The Identity and Beyond Blog

Our take on identity and compliance in a digital-first world.

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The Harsh Reality of Account Takeover Fraud and the Future of Prevention [Infographic]

July 19, 2023

Account takeover (ATO) fraud is when a bad actor seizes control of an online account, changes information such as the username, password or other personal information, and then makes unauthorized transactions with that account. ATO is on the rise, and businesses and banks are in the crosshairs. 2022 had the second-highest number of data compromises…

image of green background with computer keyboard. Text image reads: From Phishing to Deepfakes. 5 Evolving and Emerging Fraud Types.

From Phishing to Deepfakes: Understanding the Evolving Landscape of Online Fraud

July 10, 2023

“Are you who you say you are?” This seemingly simple question, once reserved for the philosophical musings of great thinkers, has now found its way into the uncharted territories of the digital landscape. It’s no longer the scholars debating identity — it’s the online businesses desperate to discern the truth amidst the ever-looming threat of…

KYC: What “Know Your Customer” Means and Why It’s Important

June 26, 2023

Know Your Customer (KYC) refers to the process institutions use to verify the identities of their customers and ascertain what fraud risks they may pose. The premise is that knowing your customers — performing identity verification, reviewing their financial activities, and assessing their risk factors — can keep money laundering, terrorism financing and other types…

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Fighting AI with AI: What Businesses Need to Know about Generative AI and Fraud

June 12, 2023

Generative artificial intelligence (AI) has caused a massive leap forward in technology. Tasks such as researching and writing reports as well as creating images can now be done in seconds instead of days or months. But while these automation tools can lead to vastly improved efficiencies for businesses, it is also ushering in a new…

What is Enhanced Due Diligence (EDD)?

May 31, 2023

In today’s business and regulatory climate, a business should not only be concerned with making profits — it should also attempt to know who it has business dealings with. This means identifying and verifying customers’ identities and meeting Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines. When a financial institution creates a new business…

text image: Infographic. 2023 Online Identity Consumer Study. 3 Key Findings.

3 Key Findings from Jumio’s 2023 Online Identity Consumer Study [Infographic]

May 31, 2023

Generative AI has captured the imagination of millions worldwide, largely driven by the recent success of ChatGPT, the text-generation chatbot. While there are many potential benefits when it comes to this technology, in the wrong hands it also serves as a powerful weapon for taking cybercrime to a whole new level through the creation of…

image of computer in the background. Text of image: Identity Theft & Fraud: 7 Common Types

7 Most Common Types of Identity Theft and Fraud

May 30, 2023

The ability to conduct financial transactions online and share personal data provides huge benefits in terms of speed and availability of services that might not be possible otherwise. But this convenience can also come at a cost. Various types of identity theft and fraud are growing every year, thanks to data breaches and the ever-evolving…

image of California ID on smartphone screen with computer in the background. Image text: AML Compliance for iGaming. Trends, Technology and Threats

AML Regulatory Compliance — Trends, Technology and Threats for Online Gaming Operators

May 16, 2023

The online gaming industry has witnessed massive growth in recent years and shows no sign of abating – the sector is projected to grow to USD 153.6 billion globally by 2030. Unfortunately, the increase in activity has been accompanied by increased risk of exploitation by financial criminals and increased scrutiny from regulators. More than ever…

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How to Increase Customer Satisfaction and Reduce Fraud in the Travel and Hospitality Industry

May 15, 2023

With the dramatic rise of criminals using generative AI to defraud companies, it’s not just banks and financial services organizations who are at risk. Companies in the travel and hospitality industry — and their customers — are increasingly suffering from fraud attacks. Meanwhile, 75% of travelers say they’d rather use biometrics in place of passports…

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Navigating Regulatory Trends, Rising Fraud Threats and Compliance: Insights from Industry Leaders

May 08, 2023

As more and more people shift toward a digital lifestyle, it has become increasingly apparent that digital payments are the future of financial transactions. More than 6 billion people across the globe use digital payment options on a regular basis. The convenience, speed, and security that digital payments offer are unparalleled, making it the most…

image of man looking at a screen with glasses on. text on image: Customer Risk Assessments improving customer due diligence

How Financial Institutions Can Use Customer Risk Assessments to Improve Customer Due Diligence

May 04, 2023

Financial institutions play a critical role in safeguarding the financial system from criminal activity, such as money laundering and terrorism financing. To do so, they must implement effective risk management strategies, which include customer due diligence (CDD) processes. One key component of CDD is conducting customer risk assessments, which allow financial institutions to assign a…

image of shield with a check mark in the middle. Text for image: Simplifying Sanctions Compliance.

Turning Toasters into Tanks: Why Sanctions Compliance is Challenging But Essential

April 27, 2023

When you think of sanctions, household items might be the last thing that comes to mind. But even a simple toaster can have military uses, causing regulators to rethink requirements for sanctions compliance. Sanctions compliance refers to the steps businesses must take to ensure they do not trade or have financial relations with those who…