Identity verification
Articles
May 20, 2025
Effective ways to improve your AML compliance
Managing financial crime presents a complex challenge for financial institutions. Due to its covert nature, the full scope of money laundering is difficult to truly know. The United Nations Office on Drugs and Crime (UNODC) estimates that between 2-5% of global GDP (up to $2 trillion in US dollars) is laundered every year. As financial crime becomes more sophisticated and regulations grow tighter, businesses must prioritise robust anti money laundering (AML) measures. Industries like banking, fintech and financial services need strong AML processes to protect themselves from fraud, penalties and legal risks. We explore how your business can strengthen
Articles
May 07, 2025
What is identity verification?
As we spend more of our lives online, protecting our personal data has never been more important. Identity verification helps businesses check their customers’ identities whilst allowing people to navigate online services with confidence. Understanding identity verification is essential. We break down what identity verification is, why it matters and how it works. We also discuss the different methods used for verifying identity and the benefits of secure identity checks. Why do we need identity verification? Identity verification helps protect both individuals and businesses from things like identity theft, fraud and other malicious activities. It’s especially important in
Articles
Mar 20, 2025
Myth-busting identity verification
Identity verification is the process of confirming that a person is who they say they are. It typically involves validating an individual’s personal information, such as a name or date of birth, against identity documents or other official records and databases. Verifying a person’s identity is crucial for safe and trusted transactions. It helps you to protect your business from fraud, prevent deepfake attacks and comply with regulations. Addressing misconceptions about identity verification There’s lots of conflicting information out there about how you can verify your customers’ identities. We’re here to dispel some commonly-held myths about identity verification.
Articles
Mar 18, 2025
An overview of changes to Companies House identity verification standard (and what it means for ACSPs)
As an Authorised Corporate Service Provider (ACSP), you’ll be aware of the upcoming changes to the Companies House identity verification standard. In 2025, anyone setting up, running, owning or controlling a company in the UK, namely directors and persons with significant control (PSCs), will be required to verify their identity to prove who they are. These changes come as part of the Economic Crime and Corporate Transparency Act 2023 and aim to prevent anyone seeking to use Companies House for fraudulent activities. Failing to comply with mandatory identity verification requirements could result in fines and restrictions on company activities.
Articles
Feb 27, 2025
The Government announces identity checks for online knife sales
The UK Government is tightening regulations on online knife sales to prevent underage access and enhance public safety. As part of this, the Home Office has published an independent report by the National Police Chiefs’ Council (NPCC). The report explores the current practices in the market and sets out some recommendations for how to strengthen online knife sales. Here’s a snapshot of some of the proposed changes: Report suspicious purchases: retailers will need to report suspicious purchases to the police. Increased penalties and jail sentences: penalties for selling knives to under-18s will increase from 6 months to up to
Articles
Aug 29, 2024
Protecting your heart and wallet: understanding romance scams
It is said that love makes the world go round. But as genuine daters are looking for love, there’s a growing risk of falling into a scammer’s trap. In this blog we explore the impact of romance fraud, common tactics used by fraudsters and how daters can protect themselves in their search for love. What is romance fraud? Romance fraud occurs when a scammer uses a fake profile and false identity to trick unsuspecting people on dating sites. They usually do this for fraudulent reasons and financial gain. The fraudster will often go to great lengths, convincing