Minerva

developed-by-lfs-1

Month: June 2020

Digital ID verification – the essential tool for faster client onboarding and reducing risk

Last year CIFAS, the National Fraud Prevention service, reported that identity fraud had reached a record level in the UK. The Solicitors Regulation Authority (SRA) reported law firm losses exceeding £700,000 in the opening half of 2019, attributing them to identity theft and the use of impersonation tactics. The consistent threat of identity fraud is …

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KYC – Knowing your customer and identifying high-risk clients

On the 10th January 2020 the 5th Money Laundering directive was adopted into UK legislation and with it came the obligations that had been enacted before; that you know your client (KYC) and ensure you comply with the 3 steps of the KYC compliance framework: Customer identification Customer Due Diligence (CDD) Enhanced Due Diligence (EDD) Providing your business …

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