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Veratad’s
IDMatch and
IDMatch+PLUS
Identity Verification Solutions help business
and financial Institutions comply with the KYC, CIP and OFAC
requirements of the USA PATRIOT Act.
Know Your Customer (KYC) policies are
important in preventing identity theft, fraud, money
laundering and terrorist financing.
Customer Identification Program (CIP)
provisions require financial institutions
to verify their customer’s name, address and personal identifiers
such as date of birth and Social Security Number.
The Office of
Foreign Asset Control (OFAC) maintains a list of known
terrorists and money launders. Those subject to compliance
must check to assure that their customers do not
appear on this list.
Summary of Benefits |
