Articles
Articles
Aug 04, 2021
Regulatory expectations are evolving: How robust is your AML program?
Managing financial crime is very complex and presents several challenges for financial institutions to develop robust anti-money laundering (AML) programs and meet compliance requirements. AML compliance officers understand the importance of keeping one step ahead of criminals trying to find weak points in their financial systems to exploit. Continuous discussions by industry leaders at the forefront of combating financial crimes agree that more needs to be done sooner to detect and prevent money launderers from misusing systems. Thought leader Kevin Buehler from McKinsey wisely points out that “the stakes in this fight have never been higher
Articles
Aug 02, 2021
AML Watchlist Screening [product sheet]
Let automation do the heavy lifting in your AML practices with our configurable identity verification solution. You can tailor the checks to suit your risk profile, with optional document authenticity checks and manual review by our verification specialists for enhanced security. Screen extracted customer data against thousands of AML databases in real-time and receive alerts to changes in the risk status of your cusomters with ongoing monitoring. Core steps for robust AML checks: Identity Verification AML Watchlist Screening Download your product sheet
Articles
Aug 02, 2021
A closer look at the ever-changing anti-money laundering landscape
In the fight against financial crime, the anti-money laundering landscape is ever-changing. The global battle against financial crime is a challenging one fought by governments, regulatory bodies, and industries. Every financial institution and organisation that provide financial services must better equip themselves against the growing threat of money laundering. Financial institutions are the most significantly impacted by money laundering and terrorism financing year on year. The United Nations Office on Drugs and Crime estimates that the amount of money laundered globally is between 2 – 5 per cent each year, which in USD is between
Articles
Jul 27, 2021
Digital hiring vs in-person hiring: a post-pandemic conundrum
Lord Holmes, life peer in the House of Lords and dedicated advocate for the power of technology, talks about the change in right to work checks as set out by the Home Office. As a result of the coronavirus pandemic, digital hiring became more widely adopted following the temporary decision to allow digital right-to-work checks. The Home Office has since decided to revert back to in-person hiring, despite an overall sentiment from businesses that Digital ID checks are more secure and efficient. *** Building back better with digital hiring On the Home Office’s step by
Articles
Jul 26, 2021
Romance fraud: how to tell if you're being scammed with Yoti peer-to-peer checks
In 2020, there were over 270 million online dating users and 2.89 billion users of social media. People have been seeking virtual social and romantic relationships more than ever before, with dating sites seeing huge increases in platform usage following the enforcement of national lockdowns. But if you have ever made one of these accounts, you’ll know just how easy it is to make a profile using a false identity. This practice has given rise to a phenomenon called romance fraud, which UK Finance reported to have cost its victims a total of £18.5 million. There
Articles
Jul 23, 2021
How big is your digital footprint? Tech expert Gus Fraser tells us how he's fixing the personal data crisis
At Yoti, one of our seven ethical principles is to encourage the personal ownership of data, which is why we are thrilled to have spoken with Gus Fraser, CEO of Revoke, about all things data and privacy. Revoke is the company striving to fix the personal data crisis for individuals. In this Q&A, Gus tells us more about how to manage our ‘digital footprint’, and how tools like Revoke can help individuals avoid data breaches and hacks. *** Tell me about Revoke and what data and privacy means to you. Revoke helps people to regain control of their