Anti-money laundering (AML) refers to the laws, regulations and processes that businesses must comply with to help stop financial crime. Criminals use money laundering to attempt to hide illicit funds such as income from drug dealing, human trafficking and terrorist financing. Businesses that move money must comply with AML regulations by having an effective AML…
“We’re not a financial institution.” “Our sponsor bank takes care of that.” “We’re fine using spreadsheets for now.” “Isn’t AML just for banks?” These are common lines of reasoning people have for scrolling past the anti-money laundering articles. But AML regulations are becoming broader in terms of markets covered and stricter in obligations all the…
The worlds of identity verification, compliance and fraud detection are increasingly intertwined. This is why so many online organizations need to rely on myriad solutions that must be stitched together to help ensure the user experience isn’t too disjointed, time-consuming or onerous. We surveyed dozens of our customers and asked them to walk us through…
This past week, Jumio formally announced the regional winners of the Partner of the Year Awards. Jumio has built robust channel programs designed to foster a network of business partners that deliver comprehensive, high-quality identity verification, onboarding and compliance services around the world. “The year’s award winners include strategic partners that have gone above and…
COVID-19 continues to have a massive impact on higher education. After an initial rush to remote learning in the early days of the pandemic and a tumultuous fall semester, schools are taking different approaches to instruction this spring, with nearly 40% of U.S. colleges and universities teaching primarily online and more than a quarter offering…
Maybe you’re a new fintech who has been told you need a transaction monitoring, anti-money laundering (AML) solution. Or you’re a traditional bank with an outdated legacy system and have been told you need to innovate your compliance program in order to save costs and reduce risk. How do you go about finding a solution?…
Providers of social and online gaming have a busy year ahead if they want to ensure geographic jurisdiction and age verification rules requirements are met in Europe’s main markets. Some important changes are coming into law in 2021 that affect how online casinos and gaming sites should manage their Know Your Customer (KYC) and age…
With the rise of new players in the banking space over the last few years, traditional banks have been inundated with the same advice: innovate or die. But when the COVID-19 pandemic hit, this message became an immediate call to action. Quite simply, banks currently have a small window of opportunity to innovate in order…
As business remains online with the pandemic continuing into the new year, it is more important than ever for enterprises to know their users are who they claim to be and not someone logging in with stolen information. And with traditional authentication methods, such as verifying user identity against a database or using passwords or…
Despite widespread reports of fraud increasing because of COVID-19, Jumio customers actually saw a 23% decrease in fraud in 2020. That was just one of the unexpected findings in the fourth edition of Jumio’s Holiday New Account Fraud Report. Every year, our holiday fraud report examines the attempts that users made to fraudulently open new…