The Identity and Beyond Blog

Our take on identity and compliance in a digital-first world.

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Navigating Asia Pacific’s Identity Fraud Landscape

October 11, 2022

Have you ever watched the chilling cult classic “Invasion of the Body Snatchers”? The 1950s alien takeover movie is best remembered for evoking paranoia about the faceless evil lurking within society. Now, 70 years later, this invasion may be more real than reel. People who are not who they claim to be are silently and…

Mitigating AML Risk in Correspondent Banking

September 30, 2022

Financial criminals depend on advanced technology to complete many of their illegal activities, so financial institutions must use sophisticated methods to identify and stop suspicious activity. Government agencies require these anti-money laundering (AML) efforts, which include identity verification, deep background checks, and transaction monitoring. AML regulations hold financial institutions responsible for practicing due diligence. You…

Sharing Economy: trust and security in a virtual exchange space

September 29, 2022

Versión en español The sharing economy aims to reach an estimated market size of $355 billion by 2025, according to PWC. These figures do not come as a surprise considering the accelerated digitalization driven by COVID-19. According to the ITU, a specialized telecommunications agency within the United Nations, during the first year of the pandemic…

Uncovering the DNA of a Fraudster: How Businesses Can Stay One Step Ahead

September 28, 2022

To beat your enemy, you have to know the enemy. Sage counsel, indeed, written some 2,500 years ago in an influential military strategy book, “The Art of War.” Yet, what do we know of today’s digital fraudster — one who stays hidden behind the cloak of anonymity? How do organizations challenge this unknown adversary hiding…

Accelerating Trust for Financial Services

September 28, 2022

Versión en español As more and more customers transact online, smart banks are making sure they can stay in the fast lane and onboard as many customers as possible. But is it possible to establish trust with a customer you’ve never met? Green light for digital onboarding Challenger banks and fintechs have figured out that…

Financial Inclusion: How Online Services Play a Key Role in Providing an Equal, Unbiased Ecosystem

September 16, 2022

The COVID-19 pandemic forced many brick-and-mortar companies to move online, including banks and financial services. Challenger banks and fintechs led the charge, offering everything from savings accounts to mortgages, all online. One positive outcome of this shift to digital banking is that underserved communities could have better access to financial services than ever before. Instead…

KYC: What “Know Your Customer” Means and Why It’s Important

September 15, 2022

Know Your Customer (KYC) refers to the process institutions use to verify the identities of their customers and ascertain what fraud risks they may pose. The premise is that knowing your customers — performing identity verification, reviewing their financial activities, and assessing their risk factors — can keep money laundering, terrorism financing and other types…

Photo of laptop with Jumio Sanctions Screening software displayed, coffee cup next to laptop, and title "Sanctions Screening Guide" overlaid on photo

Sanctions Screening: A Guide to Sanctions Compliance for Financial Institutions

August 25, 2022

Anti-money laundering (AML) compliance is not a simple matter. Your company has to practice Know Your Customer (KYC) and customer due diligence (CDD) to meet governmental regulatory measures. In addition, you are responsible for screening international sanctions lists to avoid doing business with known or suspected financial criminals such as drug dealers, human traffickers, terrorists…

person taking selfie with title KYC Best Practices for AML Compliance

KYC Process & Procedures Guide

August 22, 2022

Anti-money laundering is a guiding force for financial services companies. Know Your Customer (KYC) is an integral part of AML regulations and helps financial institutions weed out customers who commit financial crimes, including terrorist financing, human trafficking and the drug trade. While these efforts are necessary, they apply constant stress to your company. Several government…

A Terrible New Chapter in Crypto Fraud

August 18, 2022

Alarming reports have emerged about a crypto investment scam that’s so heinous it sounds fictional. Dubbed “pig butchering” because of the amount of time and care that goes into “fattening up” the victims, this scheme involves targeting people on social media, dating sites and WhatsApp, developing trust with them over days or weeks and manipulating…

Vacmobile Case Study: Safeguarding Digital Vaccination Records with Jumio

August 12, 2022

More than 114 million people in the U.S. are required annually to provide proof of vaccinations for their work or education. Unfortunately, there is no national organization for authenticating and maintaining vaccine records, putting the onus on the individual to keep track of their own records. COVID-19 only amplified the need for an innovative solution…

The Future of Digital Identity by Jumio

Smart, Reusable and Secure: The Future of Digital Identity

August 08, 2022

A massive shift is happening in the way people prove their identities. From banking to healthcare to gaming, as more business moves from the physical world to the digital world it’s become essential for organizations to determine that the person on the other end of the screen is who they say they are and to…