Blogs

How Strong, Secured Digital Identity can avoid frauds in COVID-19? Early March 2020 onwards, COVID has ensured that we stay in our homes and use digital services as much as possible in our daily lives. The only way to avail digital services is to have a valid, safe and secured digital identity. What is Digital …
Transforming Customer Due Diligence using e-KYC What is due diligence?  An effective KYC program has three parts; customer identification program, customer due diligence and ongoing monitoring. Although the first and third one is quite self-explanatory, Customer due diligence (CDD) involves a background check of the customer to analyze the risk they might bring about to …
Seamless Customer Onboarding using Digital KYC With certain procedures changing as the world battles the pandemic, one very successful change is the introduction of Digital KYC. Not only does it keep up with the safety procedure, but also makes life a lot easier. As per the new amendments, industry body, NASSCOM said, “The move comes …
eSign or Electronic Signature are Redefining the Era of Digital Signature With the ongoing pandemic of Covid-19, concepts like social distancing, digital transformation have surfaced. Majority of the businesses are shifting from the conventional method to digitalization. No physical contact, paperless transactions are now becoming a reality that the people need to abide by. Amidst …
Video KYC or V-CIP: A Monumental Step towards Digitalization A commonly heard term in the banking industry is KYC (Know Your Customer). KYC is the process or step in which there is an assessment of the customers’ profile. It evaluates the risk of the customers of a bank or financial institutions to ensure that they …
What is a Compliance Management Software? An organization’s adherence to professional and government regulations and standards per their industry, the compliance management software helps with the automation, centralization, consolidation and streamlining processes, data and communication for above. This management software provides compliance solution strategies which helps with risk management, deployment of optimized workflow and empowerment …
BMI Securities Limited (BMISL), a Hong Kong based financial securities investment firm, got a penalty of $3.7 million by Securities and Futures Commission (SFC). They failed to comply with the anti-money laundering (AML) and counter-terrorist financing (CFT) regulatory requirements. (#1) BMISL’s responsible officer, SFC did suspend Ms Maggie Tang Wing Chi for five and a …
Transaction Monitoring in Anti-Money-Laundering As the volume of transactions continues to increase and money laundering techniques become ever more sophisticated. The financial institutions face fundamental challenges on anti-money laundering (AML) in  transaction monitoring, making this an increasingly expensive task. What is Transaction Monitoring? In simple words, Transaction monitoring is an Anti-Money Laundering and fraud prevention …

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