When verifying identity risks losing it – the overgrowth of KYC

With fraud on the rise, a need to secure tax revenues, and a global commitment to reducing money laundering, it’s no wonder that regulation requires ever more stringent verification of customers’ identities. The trouble is that something which used to be the province of banks has become the province of, well, everyone. Including any number … Continue reading When verifying identity risks losing it – the overgrowth of KYC

Why “improved” on-line security could compromise your bank account

In recent months I’ve noticed a disturbing trend. More and more organisations are adding additional layers of “security”, in the form of supplementary security questions, to their websites and call-centre interaction. In addition to a username and password, they now want you to provide your date of birth and answers to a number of pre-selected … Continue reading Why “improved” on-line security could compromise your bank account