KYC

Know Your Customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.

Source: en.wikipedia.org

How US Bank Is Using Machine Learning To Tackle Fraud
How US Bank Is Using Machine Learning To Tackle Fraud
September 18, 2019  |  Digital Banking

For FIs, staying secure requires a fundamental shift in how they protect against account opening fraud and synthetic identity theft, says Dominic Venturo, executive vice...

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JPMC Adds Deutsche Bank To Blockchain Roster
JPMC Adds Deutsche Bank To Blockchain Roster
September 15, 2019  |  Blockchain

Deutsche Bank, Germany’s largest bank, is joining the 320 banks in the JPMorgan Chase-led blockchain initiative, the Financial Times reported Sunday (Sept. 15). The move...

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New Netherlands Regs Could Ban Foreign Crypto Firms
New Netherlands Regs Could Ban Foreign Crypto Firms
September 12, 2019  |  Cryptocurrency

There are many forms of nationalism. Ethnic nationalism. Cultural nationalism. Now comes cryptocurrency nationalism? We are being a bit tongue in cheek here, but perhaps just...

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Libra Forces Cryptocurrency Regulators To Reexamine Procedures
Libra Forces Cryptocurrency Regulators To Reexamine Procedures
September 12, 2019  |  Regulation

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. This...

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The High Cost Of KYC And AML Security Lapses
The High Cost Of KYC And AML Security Lapses
September 11, 2019  |  Today In Data

The regulatory landscape has become stricter – and more expensive – as enterprises and FIs grapple with fraudsters and seek to protect data and dollars. In...

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Top News In Payments: Stripe Grows Presence In Europe; Apple Introduces Fall Lineup
Top News In Payments: Stripe Grows Presence In Europe; Apple Introduces Fall Lineup
September 10, 2019  |  News

Today in the payments news roundup, Stripe is rolling out its offerings in eight new European countries. Also, the new iPhones and the rest of Apple’s...

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How FinTech Apps Can Ace Security
How FinTech Apps Can Ace Security
September 10, 2019  |  AML

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships...

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