Enhanced Due Diligence (EDD) is an important part of financial compliance frameworks that essentially demands institutions to carry out a more thorough investigation into higher-risk customers or transactions. Known as…
What is AML Fraud Detection? Definition and Purpose Anti-Money Laundering (AML) fraud detection refers to the processes and systems put in place to prevent, identify, and report money laundering activities.…
Anti-Money Laundering (AML) is a set of rules. They aim to stop criminals from hiding illegal money as legitimate income. In today's globalized economy, AML is key to financial regulations.…
Traditional KYC processes are essential for regulatory compliance and risk management, yet they have notable drawbacks. Manual document verification is a slow and labor-intensive process, which delays customer onboarding. These…
The way banks verify your identity is undergoing a revolution. Enter VCIP, the Video-Based Customer Identification Process. Imagine a secure video call where a bank representative guides you through the…