The advent of the internet has helped to create the world’s first truly global market place, where businesses and clients, literally from opposite ends of the earth, are able to connect and do business together, in the blink of an eye.

COVID-19 was a curve ball that was not anticipated by most businesses. Overall there was a global shift to more Internet activity, ranging from a sharp increase in e-commerce to a strong influx of new depositing clients (signups) and gambling action on remote gaming platforms. Lockdown restrictions and imposed quarantine periods had their toll on persons’ psychological wellbeing and time management at large.

KYC or ‘Know Your Customer’ is a process which almost every one of us will be subjected to at some point in our lives.

The Increasing Need for Vigilance The banking sector is very vulnerable to money laundering. Money launderers may be terrorists, drug traffickers, arms dealers, or other criminals

Know Your Customer (KYC) compliance programs are a regulatory requirement in the iGaming industry to safeguard against risk. Fake user profiles and the illicit laundering of funds are commonplace, and so it is essential for businesses to know their customer base to prevent fraudulent activity.

Know Your Customer, commonly known as KYC, is a set of checks that verify customers to guard against financial crime. KYC is a regulatory requirement in

Investing in the necessary evil. It is so difficult to start; the world is full of great businesses being put on pedestals as great tokens of success. Apple’s cool gadgets making billions and gazillions….Facebook’s ability to inform and misguide the world with “friends updates” and some rather trendy “fake news”. Google’s super algorithms than can do anything and find whatever you want, subject to being bombarded with marketing, spam and having your life read and interpreted for marketing purposes (did we say you have to accept cookies to read this?).

QGEN can be your compliance concierge partner from planning right through to execution. What does it really mean ‘to outsource your KYC/KYB and have it offered as a managed service…’? It should mean that you have undergone a rationalised thought process where your conclusion is “I NEED THE BEST HELP I CAN HAVE FOR MY BUSINESS”.

Audit your processes before it is too late; you might be over exposed. Blink!!….still there? If the answer is no, well that is how usually Fraud works. Fraud has to do with chances and weaknesses in controls to reflect the true state of something….there are a huge number and types of frauds, with unfortunately internal being the one that hits you the hardest, as it questions the trust you would have placed in your own people…