The Importance of Trusted User Identity Verification to Counter Fraud in the Financial Sector
Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations are stringent in the U.S. to counter threats against the financial industry. Because of this sector’s monetary nature, it has become a primary target among criminals. Identity proofing remains imperative among financial institutions for due diligence to regulatory compliance. Also, leveraging technology for better identity verification protects these establishments …