Completing accurate due diligence is vital for any business that has to comply with anti-money laundering regulations. The fines for failing to spot money-laundering activity are substantial, so it’s never been more vital that you have the best solution in your corner.
Criminals are becoming ever more sophisticated in their attempt to clean money gained through illegal activity so you need to stay one step ahead of them. That’s why RFA have incorporated the latest techniques into our AML solution to identify those wanting to use your business to their benefit.
We have incorporated Hooyu technology into our solution to give you that extra level of protection and confidence. Hooyu uses both facial biometrics and digital footprint technology to verify the person’s identity.
Initially, users are asked to provide a selfie and a scan of their identity document and the two are compared using facial measurements to make sure they’re the same person. Secondly, it looks at digital activity, including social media accounts, and analyses a number of factors to see if they are genuine, including how long they’ve been in place, how many friends/connections they have and how often activity takes place.
All of this can give you the confidence that the person you are dealing with is who they say they are, and that you’re fully compliant with any regulations.