April 7, 2020
The rush toward a digital society is accelerating at an unprecedented pace. “The value of digital channels, products and operations is immediately obvious to companies everywhere right now,” says Sandy Shen, senior director analyst, Gartner. “This is a wake-up call for...
March 26, 2020
Synthetic ID fraud is the fastest growing financial crime, often going undetected until it's too late.
March 18, 2020
We are in the midst of a global crisis. Many businesses around the world are closing their offices and instructing employees to work from home in order to slow the spread of COVID-19. Additionally, numerous retailers have begun to close...
March 10, 2020
Anomaly Detection in Anti-Money Laundering Transaction Monitoring In 2018, when we made the switch from transaction-centric detection system to user-centric detection, we were certainly right. There are clear advantages for risk analysis in using digital identities and focusing the analysis...
February 25, 2020
In a previous post, we discussed the components that the IdentityMind’s platform brings to the table to address the challenges that firms face in their Identity Proofing processes. In this article, we will elaborate on the challenges the market is...
February 25, 2020
We recently wrote about the impending Real ID legislature that will take effect October 1, 2020 to shed some light on the what, why and when of the new ID, one of the accepted forms of ID that travelers will...
February 14, 2020
Introduction Organizations that are offering some form of financial services are (most likely) required to comply with anti-money laundering (AML) regulations. There are several aspects that are key to comply with AML (e.g. AML pillars). One of them is a...
February 12, 2020
A survey from the U.S. Travel Association found that 72% of Americans do not have a REAL ID-compliant license or are unsure if they do. Furthermore, more than half (57%) are unaware of the October deadline and it is estimated...
January 31, 2020
This post was originally available on Feb 2016. Updated on Jan 31st 2020 for new techniques, and focus on overall account fraud vs just account origination fraud. Regulations, compliance and overall risk management place a significant operational burden on financial services. Online...
January 30, 2020
There are many factors influencing the need for stronger identity proofing solutions in 2020, but fraud prevention and compliance are two of the leading drivers. A significant increase in digital transactions has created an environment for fraudsters to hide their...
January 30, 2020
Machine learning and Regtech are popular topics these days. And, both play a big role in the IdentityMind platform. Large amounts of data can be valuable, and simultaneously daunting. A key promise of Regtech is to empower you to use...
January 28, 2020
About a year ago we launched our regtech store. At the time, I wrote this post to explain why we thought it was important to do so. A year later, and after hundreds of clients using our KYC plugin and benefiting from the simplicity...