Cybercrime is an illegal activity that involves a computer and the internet. Nowadays where both computers and the internet are prevalent, that means not only an increase in convenience but also a high chance of cybercrime.
Cybercrime refers to any illegal activities used by technology. You may be familiar with some of the following terms: phishing scams, website spoofing, ransomware, malware, and IoT hacking to give you some examples of cybercrime. The results of these cyber crimes are fraud, forgery, identity theft, illegal access to computers and networks, and theft of card payment or personal data.
Due to the unique traits of the internet, it is hard to find out the person who has done the action of particular cybercrime. Gathering sufficient evidence is also a challenge in investigating cybercriminals.
The unique trait of the internet - anonymity - can be acted as a fundamental step to money laundering. As disguising process is needed for laundering money, to make it look legitimate when it is not, the anonymous feature of the internet is benefitting the cybercriminals and those trying to launder the money.
This is why governments are putting obligations to banks and financial institutions to assess their customers regarding AML/CFT threats. AML,, includes the examination of the customers. This action allows firms to go through verifying customer identities, screening and comparing them from the , and in the end to build a healthy and trusted relationship in the business.
Argos KYC is an online solution that provides identifying customers not only to check who they say are but also to screen any potential risks related to cybercrimes and money laundering activities. With Argos KYC solution, businesses can start building a trustworthy relationship with potential customers who areand who are clearly checked from the watchlist database. Find out how Argos KYC can support your business to stay compliant with the policies and also stay safe with reliable users.
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