Following up on our post about our next-generation KYX Platform, we are thrilled to announce today that we have signed an agreement to accelerate our business and technology vision by acquiring current strategic partner 4Stop, the leading data marketplace and orchestration hub for KYB, KYC, compliance and fraud prevention. The addition of 4Stop’s data sources…
Anti-money laundering (AML) practices help fight financial crimes by making it difficult to “wash” illegally acquired funds so that they look legitimate. Businesses, especially financial institutions and high-cash concerns, must be vigilant to prevent this criminal activity. While AML compliance is a high priority, members of the industry are not in complete agreement about what…
In 2020, we announced the launch of the Jumio KYX Platform, an end-to-end compliance platform that allows our customers to ensure they’re fighting financial crime and meeting their regulatory obligations throughout the entire customer journey, from onboarding through ongoing monitoring. As part of this vision, Jumio is evolving what it means to know and trust…
Anti-money laundering (AML) programs provide a set of measures within financial institutions to prevent fraud, money laundering, terrorism financing and other financial crime. AML programs are mandated by the government in various jurisdictions and are aimed at financial service providers, including banks, fintechs, insurance firms, credit unions, casinos, mortgage lenders and more. Failure to comply…
For many, money laundering sounds like a crime that just happens in shady businesses or on television shows. Sadly, this financial crime is all too common and can plague ordinary businesses, especially financial services and fintechs that allow users to exchange funds. These businesses and institutions could be used to finance criminal enterprises and provide…
The Department of Homeland Security recently announced an extension of the REAL ID full enforcement deadline. This means that after several postponements due to COVID-19, a U.S. driver’s license can be used to board a plane for domestic flights starting May 3, 2023, but only if it complies with the new REAL ID federal standards….
Running a business requires staying compliant with many local, state and federal regulations. One vital responsibility for management is creating and running an anti-money laundering (AML) compliance program. AML rules are meant to stop criminals from disguising illegal money as legitimate profits. AML has become a focus for many financial institutions and other related industries…
Online users want more security. Over the last year alone, major data breaches have affected millions of people. One headliner, the Microsoft Exchange cyberattack, was enough to terrify even casual users of online services. These breaches have shown how effortless it has become for tech-savvy criminals to steal personal data to use or sell. Business…
Innovation. Partnership. Outreach & Education. When you think of a regulatory agency, these may not be the words that spring to mind, but they were key themes at the North America track of the ACAMS Anti-Financial Crime FinTech Summit. Across all of the sessions, the message was consistent and clear: regulators are focusing on enabling…
COVID-19 has greatly changed how we care for ourselves and has resulted in a massive shift in how we connect with our doctors. But telehealth has tremendous potential beyond the pandemic as well. Virtual care expands healthcare access for everyone while also reducing disease exposure for patients and staff, preserving scarce medical supplies and reducing…