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Financial institutions are being increasingly targeted by deepfake-enabled fraud during know your customer (KYC) processes. These sophisticated attacks threaten the integrity of identity-verification ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This step comes as part of the Bank’s ongoing efforts and commitment to ...

State Bank of India launches YONO 2.0, integrating mobile and internet banking with enhanced security, simplified KYC, and ...

The “KYC update” scam keeps resurfacing under different guises. This time, instead of fraudulent websites, a simple phone call and a text message serve as their secret gateway to your bank.

Of course, no transformation happens in a vacuum. Some of the greatest barriers to AI adoption in KYC are cultural: risk aversion, legacy processes, unclear accountability, and gaps in digital skills.

Quick Answer: Banks and credit unions are legally required to share certain financial information with the U.S. government. This includes interest income (reported to the IRS), large cash transactions ...

The Reserve Bank of India (RBI) has made the Know Your Customer (KYC) process mandatory to enhance security and curb financial fraud. However, cybercriminals have twisted this regulation into a new ...