KYC Checks vs Social Media Lookup for Automatic Identity Verification by SEON

Fraud

Management/mitigation

Social media

Identity Fraud

SEON

Feb 23, 2022

Whitepapers

KYC has its roots in the early 2000s in an effort to make it much more difficult for criminals to launder money through banks, insurers, and adjacent institutions, as well as to stop terrorism funding. However this approach has been made more and more difficult to help online businesses verify fraudsters.

Combined with social media lookup and strict KYC checks, we'll be looking at how we can implement better restrictions of fraudsters and help AML efforts.

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