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FaceApp: Photoshopping on Steroids
Check out the before and after pictures The Jonas Brothers created with FaceApp. While the app has been around since 2017, it’s gone viral in the last week as people use it to see how they would look when they’re older. Pretty cool. Pretty innocuous. Well, maybe, not so much. Let’s start with FaceApp’s own…
5 Killer Mistakes When Onboarding New Players in Online Gaming
When it comes to online gaming, there are a number of converging regulatory trends that are challenging operators’ ability to quickly verify and onboard new players. If you’re a UK-based operator, you now have to contend with new UKGC rules to prevent underage gambling. These new rules prevent players from gambling until their name, address…
Facial Identification Explained: Face Recognition vs. Facial Authentication
There’s a healthy degree of confusion between facial recognition and facial authentication, but the underlying technologies are often very different and designed to address different use cases. With the launch of Apple iPhone X and its successors, facial recognition has gone mainstream and helped consumers recognize that their faces could serve as their password. In…
6 Glaring Limitations of OCR for Identity Verification
We’re starting to observe a new market phenomenon: the rise of DIY online identity verification and efforts by companies to cobble together OCR technology, facial recognition software and low-cost manual review teams. Want to learn more now? Download Jumio’s eKYC in APAC Guide. At its face, this approach makes some sense, but it’s important to understand…
How APAC Fintechs and Banks Can Get eKYC Right
Banks are striving to grow their customer base through faster, easier and lower-cost digital channels. Yet, the current regulatory and cybersecurity landscape creates a layer of complexity. Consumers want the convenience of signing up through digital channels, but financial institutions must comply with stringent anti-money laundering (AML) and know your customer (KYC) regulations that typically…
The Sudden Emergence of KYP: Know Your Patient
Over the last decade, there have been over 2,550 health care data breaches impacting more than 175 million medical records. That’s the equivalent of affecting more than 50 percent of the U.S. population. What’s not commonly understood is that medical records command a high value on the dark web. These medical records can be listed…
CCPA: Making Sense of California’s Strict New Data Privacy Law
Is your business ready for January 1, 2020? This is the date when the California Consumer Privacy Act, or CCPA, is slated to take effect. It’s expected to be the strictest data privacy law in the U.S., and will require data privacy protections and requirements similar to or broader than those imposed by GDPR. The…
5AMLD is Upon Us: Is Your Online Customer Identity Verification Program Up to Snuff?
With the deadline to comply with the 5th EU Anti-Money Laundering Directive (5AMLD) looming on 10 January 2020, businesses in the EU are getting serious (or should be) about what the updated rules mean to them. One thing is for sure —the impact of the directive will be far-reaching, extending into a wide range of…
A More Sensible Approach to Account Recovery
Let’s face it — passwords suck. Why? Let me count the ways: They’re routinely forgotten They’re highly insecure thanks to near-weekly data breaches They’re usually pretty crackable They’re often shared with friends and family They’re reused and recycled across websites That’s why they’re usually considered the weakest link in the security chain. And that’s one…
Does San Francisco’s Ban on Facial Recognition Mean You Should Run From Face-Based Identity Verification?
Earlier this week, San Francisco’s Board of Supervisors voted to ban the use of facial recognition, the first U.S. city to do so. Local agencies, such as the city’s transport authority and law enforcement, won’t be able to use this emerging technology, and any plans to buy any kind of new surveillance technology must now…
Widespread Russian Money Laundering Discovered in EU Banking System
Multiple major European banks are facing allegations of failing to prevent money laundering from taking place through their banking services. This growing scandal was first uncovered through US investigations into Latvia’s ABLV bank and Malta’s Pilatus Bank. As the investigation has continued, many other major banks have been pulled into the scandal. The banks under…
Sanctions Screening Starts with Onboarding … But it Shouldn’t End There
A staggering $26 billion in fines has been imposed for non-compliance with Anti-Money Laundering (AML), Know Your Customer (KYC) and sanctions regulations in the last decade, according to recent Fenergo analysis. All 10 of Europe’s biggest banks, including BNP Paribas, Société Générale, Santander and other popular banks have fallen foul of anti-money laundering authorities. Recent…