Know Your Customer (KYC)
Identity Verification and AML Compliance Solutions
Electronic identity verification (eIDV) is the use of information in various types of data sources to quickly confirm whether an individual is who they claim to be based on personal information such as their name, date of birth, national id number, and address. The result of trying to confirm an individual’s identity could be a match, nonmatch, or partial match. GDC’s identity verification check references Name, Address, and either national ID or phone number to verify an individual’s identity.
AML Compliance Check
Anti Money Laundering (AML) refers to a set of laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.
The AML compliance check is an extension of standard eIDV. This check is used when customers require a verification that the same data elements are matched against two or more independent data sources.
This check references name, address, and date of birth
The most common use case is financial institutions regulated by international AML regulations and directives.
iGaming check is a form of identity verification used in online gaming and age verification for restricted or controlled services or content.
This checks name with address and date of birth providing a level of confidence in an individual’s identity and a determination on whether they are over 18 years of age.
Watch list /PEP/ Sanctions
GDC’s watch list / PEP / sanctions checks references numerous databases in order to flag any individuals associated with various lists.
Key watch lists include:
The U.S. Office of Foreign Assets Control (OFAC)
U.N. Security Council Sanctions Committees
The European Union’s Common Foreign and Security Policy (CFSP)
The U.K. HM Treasury
Politically Exposed Persons (PEPs)
PEP - Politically Exposed Persons
Politically Exposed Persons (PEPs) are those who currently serve or previously held a prominent public function or those with close ties to such a person—present a high risk for potential involvement in corrupt activity, including bribery by virtue of their position and influence.
Databases and lists that focus specifically on individuals and countries with specific sanctions.
The Intelligent Name Translation Engine (INTE) leverages artificial intelligence, big data, research, and feedback loops to solve the problem of traditional character to Latin name translation.
Customers provide Latin Chinese Names while data providers store names in Simplified Chinese. Google and normal translation engines are not effective in translating these names. The problem runs across multiple alphabets, including Chinese, Japanese, Arabic, and Cyrillic.
GDC’s INTE allows greater access to data in markets using various character alphabets. The INTE automatically runs in the background of our API for customers processing checks in China.