With the deadline to comply with the 5th EU Anti-Money Laundering Directive (5AMLD) looming on 10 January 2020, businesses in the EU are getting serious (or should be) about what the updated rules mean to them. One thing is for sure —the impact of the directive will be far-reaching, extending into a wide range of…
Let’s face it — passwords suck. Why? Let me count the ways: They’re routinely forgotten They’re highly insecure thanks to near-weekly data breaches They’re usually pretty crackable They’re often shared with friends and family They’re reused and recycled across websites That’s why they’re usually considered the weakest link in the security chain. And that’s one…
Earlier this week, San Francisco’s Board of Supervisors voted to ban the use of facial recognition, the first U.S. city to do so. Local agencies, such as the city’s transport authority and law enforcement, won’t be able to use this emerging technology, and any plans to buy any kind of new surveillance technology must now…
Multiple major European banks are facing allegations of failing to prevent money laundering from taking place through their banking services. This growing scandal was first uncovered through US investigations into Latvia’s ABLV bank and Malta’s Pilatus Bank. As the investigation has continued, many other major banks have been pulled into the scandal. The banks under…
A staggering $26 billion in fines has been imposed for non-compliance with Anti-Money Laundering (AML), Know Your Customer (KYC) and sanctions regulations in the last decade, according to recent Fenergo analysis. All 10 of Europe’s biggest banks, including BNP Paribas, Société Générale, Santander and other popular banks have fallen foul of anti-money laundering authorities. Recent…
Today, on International Women’s Day, Jumio launches the Jumio Women’s International Network (JWIN), the company’s first official internal organization dedicated to positively influence women’s development and workplace culture. JWIN’s mission is to implement the core ideas of integrity, diversity, empowerment, inclusiveness, accountability and leading innovation across Jumio’s international network of female professionals. The organization will…
Consumers are increasingly using their mobile devices to create new online accounts and to access those accounts and online services on the go. That’s why it’s not surprising that face-based biometrics are now taking the place of fingerprints, PINs and even passwords. Counterpoint Research suggests that more than one billion smartphones will have some form…
In her December 3rd, 2018 remarks to the ABA/ABA Financial Crimes Enforcement Conference, U.S. Treasury Department undersecretary Sigal Mandelker emphasized the importance of adopting new technological advances for the detection of illicit financial activity. “Private sector innovation, including new ways of using existing tools or by adopting new technologies, can be an important element in…
The UK Gambling Commission (UKGC) recently released its new customer identity verification rules , which take effect on May 7, 2019. The new requirements are part of the regulator’s three-year plan to ensure a “fairer and safer” gambling environment for UK consumers. The table below highlights some of the key changes when it comes to…
In the world of digital identity, there are two distinct realms — the realm of identity proofing and the realm of authentication. These realms have been separate and distinct for decades. Companies have used a variety of identity proofing techniques to remotely establish the identities of users by requiring them to visit a local branch…