Independence: a Critical Factor for Success in Compliance
Each year countries around the world lose vast sums in tax revenue from money that bypasses the formal economy. This is money that falls through the cracks of formal tax systems, denying countries valuable tax revenue that could be spent on infrastructure, economic development, or improving social programs. Many companies have invested heavily to grow […]
December 23, 2021
Mitigating risk in a new Compliance Landscape
Recently, we talked about the importance of valid identification documents in the age of digitization. To access online financial services, a customer’s identity needs to be validated through eKYC measures. The money transfer industry, responsible for processing billions of dollars in remittances sent worldwide, is no exception. By following the latest regulations and best practices, […]
December 13, 2019
The Future of eKYC in Compliance
In today’s digital market, Electronic Know Your Customer (eKYC) measures have replaced the interpersonal relationship between customers and sellers. And that’s actually a good thing. There is no denying online services are convenient and effective for all parties involved. On the other hand, preemptive measures must be implemented to mitigate the risk of fraud or misuse. […]
February 14, 2019
The Meaning of KYC: Know-Your-Customer Compliance
We often think the digital age is depersonalizing the client experience. However, thanks to Know Your Customer (KYC) policies, opening any kind of account requires the service provider to know enough about their client to be able to identify them. And while the onboarding process may appear cumbersome, KYC policies are what keep us safe […]
December 26, 2018
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