Violating the Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) Act 2009 regulations has devastating repercussions for any financial service and related industries.

These include punitive fines of $2 million to $200 million, criminal trials, legal sanctions, tarnished brand reputations, and losses in client and investor trust and relationships.

If you think your manual identity validation workflows can rigidly follow the AML/CFT directives and evade the penalties just fine, think again.

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Countless industries are now moving their customer identity verification processes online instead of the traditional, face-to-face method.

This doesn’t come as a surprise considering the convenience, dependability, and level of security online identity verification brings.

If you’re looking to upgrade your customer authentication workflows by moving them online, then this guide is for you. This post covers the nitty-gritty of how identity verification processes work online, so you’ll have a better grasp of the concept.

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Identity verification plays a crucial role in legal, real estate, accounting, and several other industries dealing with numerous clients and data assets.

Five Eyes (FVEY) is a post-war intelligence alliance comprised of Australia, New Zealand, Canada, the United Kingdom and the United States. This group of countries is bound by an agreement to share military, signals and human intelligence.