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Kompli-Global Partners with Yoti to Tackle Money Laundering through Verified Identities

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Kompli-Global, a RegTech AML specialist, has formed a strategic partnership with digital identity and credential management platform, Yoti, to tackle money laundering through biometric identity and document authentication.

Kompli-Global recently launched its remote corporate onboarding platform, Kompli-QED, combining its own proprietary solutions with best-in-class third party services. Yoti, a UK-based digital ID and credential management platform, is the latest to join the platform.

“Identity theft is one of the fastest growing criminal activities, so it is vital to be able to verify that potential new clients are who they say they are,” says Jane Jee, Kompli-Global CEO. “Being able to offer Yoti’s innovative proof of identity and verification system is excellent news for our new platform.”

Yoti verifies the identity of each individual, authenticates a trusted identity document and verifies it is presented by the live human being to whom it belongs. An individual is asked to capture an image of a government-issued photo identity document such as a passport, driving licence or national identity card, and take a ‘selfie’. A comparison analysis is then conducted using both technology and human agents to confirm that the ‘selfie’ is the same person as the photo on the ID document. It also verifies that it is an image of a real person in front of a camera, not a spoof through an automated bot, mask or photo.

The system then checks the integrity of the security features on the document to ensure it is an authentic and unexpired document. Kompli-Global then retains the image of both the ID document and the ‘selfie’ for audit and future remediation purposes.

Yoti has hitherto been more active in the health sector than in financial services – it has been active in supporting COVID-19 test credentials in the UK using biometric technology, and has also been creating digital staff IDs for NHS workers.

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