As the world becomes more digitised, scammers revise their methodologies to carry out malicious intents. These cybercriminal groups manipulate the systems of reputable organisations, including banking institutions, healthcare providers, and fintech firms, to get access to free services and financial rewards. Fraud prevention measures comprise about 10% of the average…

The risk of money laundering and terrorist financing is rising in today’s digital age. According to the survey, the annual amount of money laundered is between $800 billion and $2 trillion, or 2% to 5% of the world GDP. However, business professionals must use cutting-edge digital tools to combat fraud…

OCR reader extracts information from handwritten, typed or printed documents and transforms them into a computer-readable format. It is an ideal solution for data extraction processes in different businesses. Optical character recognition automates repetitive tasks and enhances the ability to meet all corporation's requirements. …

In today’s fast-paced business environment, the threat of financial crimes such as money laundering, terrorist financing, and fraud is ever-present. A recent study shows $28 billion in losses due to identity fraud scams, victimising 27 million U.S. consumers. …

In the modern technology-driven world, document authentication solutions are becoming highly important to take businesses to new heights of success. Cyberattacks, document frauds, and identity theft are on the rise, mainly in the wake of the COVID-19 outbreak. Document verification services can help business experts fight fraud and safeguard sensitive…

As companies progress towards digitisation, cybercriminals become increasingly adept at exploiting businesses to achieve their nefarious goals. In 2022, money laundering fines increased by 50%, highlighting the urgency of robust financial crime prevention measures. The prevalence of alarming statistics has made transaction monitoring a necessary standard in the financial sector…

The finance sector is transforming its operations from physical to digital banking. Considering this, institutions are heavily investing in the latest FinTech application to facilitate remote operations. …

The world experienced a challenging situation during the period of the pandemic. However, governments imposed lockdowns and restricted physical contact worldwide. Therefore, the video KYC strategy was introduced. According to a survey, the Video KYC market is projected to grow from $186.45 million in 2021 to $437.95 …

Identity theft, the most prevalent crime in the universe, has terrible effects on its victims. It is, therefore, important for businesses to protect themselves from this common threat because it facilitates many financial scams, including account takeovers and false insurance claims. The facial recognition market is growing as forward-thinkers look…