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Digital Identity, Security & Online Fraud

Sumsub partners Exness to boost fraud protection and ensure AML compliance

Wednesday 11 September 2019 | 12:20 PM CET

AI-based AML/KYC provider company Sumsub has partnered with trading company Exness to improve fraud protection and AML compliance.

Spanning across multiple regions and handling a variety of user flows, Exness intends the partnership to help fight identity fraud and ensure compliance with the latest AML requirements such as the new AML5 directive, FATF and FinCEN crypto requirements. Using a risk-based approach, Sumsub automates the verification process, it can be used in multiple countries and ensures compliance with industry regulations and KYC/AML screening.

Exness will have access to a dashboard to choose the level of automation per verification workflow. Detailed information of applicants such as status, history, and reasons for being approved or denied can be accessed from multiple databases including PEP, sanction lists and adverse media, and then compiled in a report in accordance with AML/CFT frameworks.

More: Link
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