ID checks

Challenges for online retailers on age specific products

Online sales continue to dominate, with £133bn spent online through UK retailers in 2016 (IMRG Capgemini ERetail Sales Index). And while this is great for online retailer’s bottom line, the increased number of customers causes additional challenges for those selling age restricted products to customers they can’t see in real life.

The importance of credit checks when onboarding clients

With unpaid invoices across the UK totalling nearly £70 billion, credit checking clients during onboarding is a crucial part of the KYC process, to mitigate the risk of bad clients impacting on your own activities.

PIN numbers for payment cards could soon be a thing of the past

The aim to tighten security within the payments industry is well under way with Visa Australia at the forefront. Several years ago they abolished signatures and now it looks like the not-so-trusty PIN number is the next to go.

Ongoing checks for responsible gambling

Problem gambling costs the UK up to £1.2bn a year, according to a recent report commissioned by charity GambleAware. Up to 1.1% of the adult population are believed to have a gambling problem, with added strain being placed on the social welfare system.

Don’t gamble with your operating licence

The Gambling Commission has recently unveiled their new strategy to enforce stronger penalties for operators who do not adequately guard against money laundering, problem gamblers or who fail to provide a fair and adequate service.

Challenges on identity checking on data poor countries

Ireland recently published their “eGovernment Strategy 2017-2020” in which it was revealed that the Public Services Card will become compulsory for those applying for a driving license or passport. Arguments have already begun over what has been coined as a National Identity Card by “stealth”.

ID and Age Verification – what you need to know

Identity and age verification is necessary to prevent minors from purchasing and accessing age-restricted goods and services, such as online gambling, weapons, pornography, tobacco and alcohol. But it is not just minors that need to be restricted, sometimes you need to prevent adults from taking advantage of special offers which are only for under 18’s, or keep adults away from sites which are designed purely for children.

KYC for Accountancy

Companies in the accountancy sector must follow certain procedures to comply with their AML responsibilities, and the rules are set to get even more stringent as new CCAB anti-money laundering guidelines have just been approved by HM Treasury.

The importance of international data in KYC

Thanks to freedom of movement and trade, the world keeps getting smaller. With companies constantly looking to extend their reach beyond borders and people moving freely from country to country to follow work or family commitments, there has never been a time when access to international data was more important.

EU Parliament endorses key changes to anti-money laundering rules

Members of the European Parliament (MEPs) voted overwhelmingly in favour for key changes to be made to the European Union’s anti-money laundering directive.

MEPs supported an agreement with the Council which will give public access to information on the real owners of firms operating in the EU, a measure aimed at quashing the corrupt use of letterbox companies created to launder money and hide wealth.

Are biometrics the future of ID and age verification for age restricted products?

Biometrics can now be found everywhere. Already common on mobiles phones, biometric verification and authorisation including fingerprints, facial recognition and iris scanners are being used on a variety of apps and services.

Know Your Candidate for the recruitment industry

The financial sector in particular is subject to stringent AML requirements; it is important to identify and adhere to any legislation that might affect the specific industry that you are recruiting for. This may include carrying out additional checks, keeping certain records, and putting procedures in place to protect the business against money laundering or incorrect employment choices.

Age verification for the online adult entertainment industry

As the implementation of the Digital Economies Act in April approaches, businesses operating in the online adult entertainment industry are under more pressure than ever to ensure compliance with the incoming age verification (AV) requirements.

The importance of identity check onboarding for the financial industry

Thorough and efficient identity checking at the onboarding stage is crucial for all organisations in the financial industry. All customers must be checked and verified to comply with KYC and AML regulations and identify potentially fraudulent activity.

Identity checking for Gambling

Gambling providers are required by law to carry out identity checks to ensure that those gambling are of legal age and not linked to crime, money laundering or terrorism. Gambling operators must also adhere to local laws and ensure that those using their services meet geographic requirements.

AML regulations - Confusion in the estate agent industry

A recent survey of estate agents has revealed the extent of the industries confusion around current Anti-Money Laundering (AML) regulations.

Only 12% of participants achieved a perfect score in the multiple-choice questionnaire, which focused on the 4th Money Laundering Directive (4MLD), while 13% of respondents believed a PEP to be a “Property Exempt Person”.

CIS is the offical sponsor for PAY360 this March

PAY360, is an flagship annual conference is a true celebration of payments innovation. This event brings together the leaders in the emerging payments community to discuss the future of our exciting industry. We expect an audience of over 300 C-level delegates at PAY360 in 2018.