The pandemic has brought with it a lot of positives in terms of an increase in entrepreneurship, new ideas, and more of the world’s population being online.

Along with all the good stuff, there are also the increased risks in being online. Interpol reported an increase in cyber-attacks at the onset of the Covid 19 pandemic. Though geared mainly towards government institutions, it still doesn’t bode well for your business or personal data.

Due to these attacks and increasing cases of online fraud, cyberbullying and scams, governments in trying to protect their citizens, decided they needed to strengthen basic customer due to diligence and created customer id verification solutions. Now, customer identity verification programs like Know Your Customer (KYC) are a requirement for your business when onboarding new customers and when you do business at financial institutions.



The new anti-money laundering (AML) laws help prevent the funding of human trafficking and drug smuggling which, according to the United Nations Global Report on Human Trafficking, affects 155 countries with the majority of the victims being young people and 20% children. For the protection of all online and off, this makes having KYC and AML compliance and enforcing consumer identity verification a must in the fight against crime and defunding the criminal elements in our society.