ACUANT BLOG

Everything You Need to Know About [Money] Mules & How to Detect Them- Hint: It’s Not a Sniff Test

It's no surprise that targeted fraud is an ongoing problem for many businesses. According to a JP Morgan report, 81% of businesses were targets of some form of payment fraud in 2019. One of the many — and damaging —...

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It’s Time to Automate your KYC Compliance

There is a strong case to automate KYC (Know Your Customer) compliance today. An increasing volume of online transactions and an increase in the rate at which these transactions occur, on top of the current Covid-19 pandemic, makes manual processes almost impossible. No ordinary compliance team...

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Risk and Compliance Solutions for Payment Service Providers

Companies that scale and succeed are those that dedicate time and effort to implement and tune their risk models and processes for fraud prevention and money laundering. For any type of business, but specifically for Payment Service Providers (PSPs), adopting...

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Velocity Rules to Identify Online Card Fraud: A More Flexible Way to Leverage Historical User Behavior as a Risk Indicator

Dating back a couple of decades when ecommerce started, one of the first tools to identify online card fraud were velocity rules. Velocity rules measured the number of transactions that were performed by a particular credit card in a (short)...

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Payments + Fraud Prevention & Compliance = IdentityMind (now Acuant Compliance) Added to Dwolla Partner Ecosystem

Payments are a key ingredient of online business. Dwolla works with a wide variety of companies to quickly enable them to collect and disperse payments online. However, doing business online requires being able to identify and verify your customers, and...

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Mobile Money: Financial Service Institutions and the Rise of Digital Identity

In the span of three months there has been a massive culture shift to embrace all things digital. Telemedicine is on the rise, workplaces have turned to Zoom and other cloud based collaboration tools, and small retailers are using ecommerce...

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Why Compliance is The “Secret Sauce” for Fraud Prevention in Digital Marketplaces

When creating a fraud strategy, the top concern for many organizations accepting online payments is preventing payment fraud. This makes sense, but failing to consider other types of illicit activity can be costly.  In fact, most marketplace fraud spending is...

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How Financial Institutions Address Remote Onboarding and Regulations Globally

Financial Institutions (FIs) around the world are heavily regulated with the goal of reducing money laundering and funding of terrorism. Complying with global regulations such as FATF and the 5th EU Anti-Money Laundering Directive, keeping track of sanctions and politically...

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KYB Process Automation – Real-life scenarios for Business Payroll and Benefits (BP&B) and B2B Cross Border Payments

This is part 1 of a 3 part series blog post where we explore real use cases on Know Your Business (KYB). The first blog post is an introduction of those cases and how their KYB requirements are addressed within...

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Tips and Tricks de la Ley FinTech: Qué aprendimos de Nuestro Panel

Tips and Tricks de la Ley FinTech: Qué aprendimos de Nuestro Panel El pasado 26 de Febrero condujimos un panel experto en la nueva Ley FinTech de México, enfocados en los requerimientos asociados a la prevención de lavado de dinero...

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The Keys to Fighting Synthetic Identity Fraud

Synthetic ID fraud is the fastest growing financial crime, often going undetected until it's too late.    

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AML Machine Learning

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...

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