Sumsub upgrades fraud prevention solution
Source: Sumsub
Sumsub, a leading global full-cycle verification platform, commits to tackling the alarming surge of fraud networks in Asia-Pacific (APAC) by launching its upgraded Fraud Prevention Solution. In addition to fraud networks, the upgraded solution will also help businesses address other pertinent fraud issues such as account takeovers, chargeback fraud, bot attacks and more.
IDenfy unites with BlueMonks doe enhanced identity verification
Source: iDenfy
iDenfy, a Lithuania-based RegTech company best known for its identity verification solutions, has announced a new partnership with BlueMonks, a Dutch anti-financial crime boutique specializing in end-to-end compliance solutions.
FinCEN Report: Identity Exploitation in US Transactions Tops $212 Billion in 2021
In 2021, the United States witnessed approximately 1.6 million Bank Secrecy Act (BSA) reports, amounting to $212 billion in suspicious activity, all linked to the exploitation of identity processes during various financial transactions.
CFTC Calls for Action on Identity Challenges in the World of Decentralized Finance
The Commodity Futures Trading Commission (CFTC) is urging policymakers to address identity-related challenges within the realm of Decentralized Finance (DeFi) operations.
Rise in Identity Fraud Fueled by Generative AI and Intelligent Malware - AU10TIX
AU10TIX reports a substantial 44% surge in organized identity fraud in North America compared to previous quarters. This increase is thought to be propelled by the ongoing economic recovery and inflationary pressures, notably in the US market, emboldening professional identity fraud syndicates.
Fluid Finance turns to Sumsub for ID verification
Source: Fluid Finance
Fluid Finance, a fintech company headquartered in Geneva, has partnered with Sumsub, a global all-in-one verification platform, to enhance user onboarding and ensure bulletproof fraud protection.
TrustBuilder updates identity management product
Source: TrustBuilder
TrustBuilder announces version 11 of its Identity & Access Management (IAM) solution. In the new version the identity piece, in particular, has been further strengthened.Thoroughly verifying a user's identity is important in enhancing customer experience, in achieving zero trust, and in ensuring compliance through KYC obligations.
Fed releases toolkit to help banks combat synthetic identity fraud
US banks racked up $20 billion in losses to synthetic identity fraudsters in 2020, according to new data from the Federal Reserve.
