BASIS ID and NetEase

BASIS ID is pleased to announce its partnership with leading Chinese internet technology company, NetEase.
BASIS ID will be supporting NetEase by providing secure access to the company’s services via fast and flawless identity verification.


BASIS ID, a global digital identity verification provider, and innovative Swag Corporate announce a partnership focused on streamlining verification and compliance processes for Swaggy, the SWAG App that allows using bitcoin with a euro bank account.


2020 has been a difficult year for all of us. Humanity experienced vicious natural disasters, global pandemic, civil unrest all over the planet. Just when we thought we’ve seen it all — something even more unprecedented arrived.

What is the KYC/AML Process And Why It Is Important?


Recently, South Korea has approved new anti-money laundering measures for the digital currency sector.

The new rules came into force on April 25, 2021. They have imposed harder and stricter conditions on Virtual Asset Service Providers (VASPs) in managing risks of money laundering and other crimes related to it. These measures are the latest example of South Korea working hard to comply with new Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) directives in the virtual asset space.

What are South Korean AML regulation updates and what are they bringing to the FinTech companies? Continue reading to know more.

SOUTH KOREAN AML BACKGROUND


There are many ways to build a compliant FinTech: from creating an in-house identity verification software to partnering with a KYC and AML service provider. We have prepared a checklist for designing an effective KYC process, no matter whether you are integrating a 3rd party solution or building one on your own.


According to the United Nations Office on Drugs and Crime the amount of money laundered each year is 2% to 5% of global GDP. In order to combat money laundering and terrorist financing, the Know Your Customer (KYC) procedure was introduced, which is a part of a broader Customer Due Diligence (CDD) process. Every bank or financial institution has to implement KYC into its onboarding process. KYC, however, often includes address verification. What is Proof of Address (PoA)? Why and when should you use it?

What is address verification?


Southeast Asia consists of 11 countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor Leste, and Vietnam. Despite having so many countries, only some of the regional regulations differ. These states usually take best practices from each other and often have similar legislation especially regarding the safety of financial services.

1. Indonesia is Making Cross-Bank Transactions Cheap


5AMLD came into force on January 10, 2020 but do you know what your company needs to do about it? What are the biggest changes and how can you stay compliant?

Why Do We Need 5AMLD?

  • Increase transparency…

Fallouts of the Coronavirus (COVID-19)


As we are seeing a downturn in the economy, companies are expecting to see a rapid influx of new users. In this article, you will understand what you will need to do to prepare your company for the new bull run.

What’s The Economic Impact Of The Coronavirus?

BASIS ID

The best solution to business tasks of KYC, AML and verification procedure. www.basisid.com

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