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Everything you need to know about KYC

It has been estimated that in 2021, on average, financial institutions were fined $34.4 million for AML-related compliance breaches. The staggering financial loss comes from a failure to understand who these institutions are working with. That's why Know Your Customer procedures have never been so important.

Identity verification guide: everything you need to know

Every year, millions of people worldwide suffer at the hands of identity thieves. By impersonating a victim, fraudsters get access to their credit cards, open bank accounts to make unauthorized purchases or obtain loans. The most important safety mechanism that regulators enforce to prevent fraud

Know Your Business (KYB): Everything You Should Know

Know Your Business (KYB) is a verification standard that confirms the legal status of a company and its compliance with Anti-Money Laundering and other regulations. The KYB process is performed by a regulated organization, such as a bank or insurance company, to protect their interests and determine whether it's doing business with legal or shell companies.

How Ondato Accelerates Customer Onboarding

Before the pandemic started in 2020, many financial institutions were hesitant to step into the uncharted territory of digital onboarding. Some thought they would only be ready for digital transformation in 7 years' time.

Ondato’s System Receives Approval to Provide Age Verification Services in Germany

Germany's Commission for the Protection of Minors in the Media (also known as the KJM) recently approved the Ondato identity verification system as suitable for age verification. Now, all adult media providers operating in Germany can be assured that Ondato's tool complies with KJM's legal and technical requirements.

Biometric Authentication: Methods and Benefits

Security has come a long way since passwords and knowledge-based authentication were introduced. The increasing risk of cybercrime, changing data protection regulations and company policies demand a much more reliable technology. Today, the best way to secure your data is by using biometric authentication.

Should You Use a Professional Compliance Service?

For some businesses, being allowed to operate means meeting various compliance requirements. It serves the purpose of better transparency, protecting customers, controlling risk management, preventing money laundering and terrorist funding.

January 29, 2022

What Can Companies Do to Reduce the Risk of Identity Theft?

January 29, 2022

Spoofing 101: Biometrics Fraud

While the reliance on traditional passwords is shrinking, other authentication methods are carving their way into your most-used services. Since they're newer, it would seem that this would probably mean that they're safer by default. Though, the reality of it is that as authentication tech is advancing, so are the methods to bypass it.

January 29, 2022