5.4 million consumers were victims of identity theft or fraud last year globally [1]. That’s up by 16% from the year 2015. Identity fraud and its related vulnerabilities are becoming increasingly rampant due to weak ID verification processes across companies. It is indeed important to keep identities safe and on-board employees, customers, vendors and partners with genuine identities only.
Background Checks
Understanding KYC and AML: Similarities, Regulations & Importance
Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations are extremely important in protecting financial systems against illicit activities such as money laundering, terrorism financing, and fraud. As global regulatory frameworks continue to evolve, 2025