The Identity and Beyond Blog

The estimated amount of money laundered globally in one year is 2% to 5% of global GDP — that’s $800 billion to $2 trillion in current U.S. dollars. Though the margin between those figures is huge, even the lower estimate underscores the seriousness of the problem governments have pledged to address. Consequently, any organization that…

Azure Active Directory (Azure AD) External Identities is a set of capabilities that enables organizations to secure and manage any external user, including customers and partners. For white label authentication and fully customizable user experience, Azure Active Directory B2C is capable of supporting millions of users and billions of authentications per day. Using Azure AD…

Today, Jumio is announcing the launch of our KYX platform, which begs the question — what is KYX? The “X” in KYX could be your customer, your patient, your business partner, your driver or any host of end users. We’re obviously riffing on KYC or Know Your Customer, which is the mandatory process of identifying…

Once a company has made the decision to use online identity verification, leveraging a government-issued ID and a corroborating selfie, the next big decision is what type of implementation they should use. There are typically three options: Mobile SDK: The identity verification functionality is embedded within a mobile software development kit (SDK) that is integrated…

Paysafe is on a mission to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. Delivered through an integrated payments platform, their solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Onboarding new Paysafe…

The problem with most plastic forms of government-issued IDs is that they can be forged or digitally manipulated with ease, and counterfeiters can now order high-resolution printing equipment and some basic security inks online. They often change the personalized data of an existing ID document through methods such as scratching, cutting, dissolving or using solvents…

Not all biometrics are the same. Functionally they do the same thing — measure and compare unique physical or behavioral traits — but smart biometrics, which are enhanced by artificial intelligence and machine learning, adapt and evolve with every use. Smart biometrics are the foundational aspects of a broader trend that FindBiometrics calls “Intelligent ID” — a key…

High-value art is being used by sanctioned individuals to launder money, according to a recent report by the U.S. Senate Permanent Subcommittee on Investigations. The art industry does not have the same anti-money laundering (AML) requirements as banks and other financial firms, creating a perfect loophole for criminals. Many auction houses do have voluntary AML programs in…

Money launderers are exploiting vulnerabilities in private equity firms and hedge funds, according to a recently leaked FBI report. These firms are not subject to the same anti-money laundering (AML) requirements as other financial firms. For example, whereas banks and broker-dealers are required to have an AML program in place and must perform Bank Secrecy Act filings and customer…

Update: The Beam platform is now Jumio Transaction Monitoring.  *** We have been very busy developing exciting new features in the Beam platform. Today we are happy to announce some major improvements that will make compliance even smoother in your organization. Quality Control (QC) This feature allows QC managers to verify that analysts are meeting…

The Financial Industry Regulatory Authority (FINRA) protects investors in the United States from financial crime. It achieves this goal by establishing and overseeing the rules and guidance that regulate the US broker-dealer industry and the trade of financial assets. FINRA structure FINRA formed in 2007. It originated from the consolidation of the National Association of Securities Dealers…

Securities compliance is the adherence to the rules and regulations related to trading securities. The regulatory organizations who create and enforce these laws include: U.S. Securities and Exchange Commission (SEC) Financial Industry Regulatory Authority (FINRA) National Futures Association (NFA) These organizations work to ensure the safety and fairness of the financial markets. Their regulations protect…