Money Laundering in Cryptocurrency

Money Laundering in Cryptocurrency

Since the beginning of 2019, illicit activities have been steadily increasing in cryptocurrency; last year alone, Chainalysis traced $2.8 billion in Bitcoin that moved from criminal entities to exchanges.

But how are criminals laundering money using cryptocurrencies, and what is being done about it? Here, we will explore money laundering in cryptocurrency and the likely consequences.

How enhanced KYC checks increase brand loyalty

How Enhanced KYC Checks Increase Brand Loyalty

These days, customers expect far more from brands and organisations than just their primary service. Consumers are made more aware of company practice and will often favour a brand that aligns to their views over cheaper or quicker alternatives.

But how can you foster loyalty in your brand? This post will explore how implementing robust and compliant KYC checks can help cultivate emotional, lasting relationships with your customers.

Remote Onboarding and Regulations Globally

How remote onboarding & regulations are being addressed globally

Around the global financial service providers are regulated for the purposes of minimising fraud, reducing money laundering and limiting the funding of crime & terrorism.

Today, many of the financial markets have to comply with global regulations, such as the 5th EU Anti-Money Laundering Directive (read our guide on how to comply with 5AMLD) and Financial Action Task Force (FATF).

Providing Identity Verification solutions for Visa

How Online Payments are Processed

With the decline of your typical high-street stores having a physical presence comes the increase of businesses with an online presence, ultimately resulting in more and more payments being processed online.

These digital payments are not just for e-commerce businesses, but also businesses in other industries such as Money Transfers or Foreign Exchanges and Gambling.

Alongside the rise of card and online payments inevitably comes the greater risk of payment fraud – whether this be through stolen credit cards or impersonation fraud.

Providing Identity Verification solutions for Visa

The Payments Industry’s Digital Evolution

The payments industry is the foundation of financial services and critical for functional business. It is an industry that has evolved significantly since its outset. The rise of the digital revolution is no different. In most recent years fintech advancements have revolutionised the payments industry and physical money could be a thing of the past as payments made with a smartphone become commonplace within society. 

Risk Mitigation & Fraud Prevention

Reducing fraud in the payments space requires more than just a passport scan…

Most businesses look to avoid friction at all costs in the user experience – and for good reason. But friction isn’t always bad. It exists for a reason and is only ever introduced when necessary.  

Card-Not-Present (CNP) fraud – occurring for the most part during online transactions – is on the rise, increasing by 40% from 2016 to 2017, and accounted for approximately two thirds of all card fraud in 2016. The same research found that Airlines were the most affected by this type of fraud, with money transfer companies following as the second most affected.

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