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This thread is sponsored by Verisio
The short but snappy contents of this post will cover a range of different methods KYC companies use against the wide range of products they offer to their clients which may affect the prices you see on the market today, and gives you an insight of what KYC solution providers have to bypass in order to serve you your product.
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- Document Verification: This is where your identity documents are checked against their latest algorithms to make sure they match the consistency of real identity documents from that region along with detecting anomalies in regards to the font size, font color, any deformities etc.
- Biometric Verification: This is also known in the AML industry as a liveness check, where you take a picture/selfie of yourself with your identity documents and your face is scanned biometrically against your identity documents in order to detect if your face matches your identity documents. One way this is bypassed is if the identity documents are faked to where the model's face is on the passport which would mean the selfie and the identity passport would match, validating the biometric check.
- Layering: This is where KYC companies layer several methods such as document verification, biometric verification and device & network information in order to determine a risk score which is used to determine whether you should be allowed onto the platform or not.
- Source of Wealth verification: This is only on high level / high value clients' accounts only, but it's when a company takes documents like bank statements and other proof of funds statements in order to increase limits, or prove that funds aren't coming from dirty sources.
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This leak has been rated as not working 1 times this month. (1 times in total)
The short but snappy contents of this post will cover a range of different methods KYC companies use against the wide range of products they offer to their clients which may affect the prices you see on the market today, and gives you an insight of what KYC solution providers have to bypass in order to serve you your product.
[HIDE]
- Document Verification: This is where your identity documents are checked against their latest algorithms to make sure they match the consistency of real identity documents from that region along with detecting anomalies in regards to the font size, font color, any deformities etc.
- Biometric Verification: This is also known in the AML industry as a liveness check, where you take a picture/selfie of yourself with your identity documents and your face is scanned biometrically against your identity documents in order to detect if your face matches your identity documents. One way this is bypassed is if the identity documents are faked to where the model's face is on the passport which would mean the selfie and the identity passport would match, validating the biometric check.
- Layering: This is where KYC companies layer several methods such as document verification, biometric verification and device & network information in order to determine a risk score which is used to determine whether you should be allowed onto the platform or not.
- Source of Wealth verification: This is only on high level / high value clients' accounts only, but it's when a company takes documents like bank statements and other proof of funds statements in order to increase limits, or prove that funds aren't coming from dirty sources.
[/HIDE]
This leak has been rated as not working 1 times this month. (1 times in total)
