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Fighting fraud and money laundering

The fight against fraud and money laundering, or LCB-FT, are processes made mandatory by European and international standards. They require the verification of customer identities and the monitoring of monetary activities in many areas of business.

LCB-FT compliant id

LCB-FT regulations

LCB-FT: What is it?

Anti-fraud regulations clarify companies' duties with regard to due diligence procedures. These European standards are also known as KYC-AML, which stands for Know Your Customer - Anti Money Laundering. 3 steps are designated as essential: customer identification, validation of digital identity and assessment of associated risks.

Multiple controls

Customer identification

The customer identification stage corresponds to the collection of identity information and supporting documents. To do this, customers provide their biometric passport or identity card.

Anti-fraud selfie

Identity validation

The purpose of this stage is to verify the customer's digital identity by means of a photo or video. This allows us to check the correspondence between the physical person and the identity document submitted in the previous step.

Penalty lists for LCBFT

Risk assessment

Finally, risk assessment includes researching information about the customer. We check that he or she is absent from government databases on Politically Exposed Persons (PEPs) and sanctions lists.

european union flag lcb-ft

What are the consequences of non-compliance with LCB-FT standards?

Companies that fail to comply with anti-money laundering (AML) and anti-terrorist financing (ATF) regulations are taking risks. Between administrative sanctions and heightened vulnerability, the consequences of non-compliance can be severe, especially when the offence is repeated.

Deposit Exposure to heavy administrative penalties
Deposit Increased vulnerability to fraudulent transactions
Deposit Reduced customer confidence
LCB FT - Fight against fraud

Different types of fraud

Detect fraud in all its forms

With the advent of online services, document fraud has grown to more than 42 billion euros. Today, fraud attempts are categorized into different methods. Each has its own characteristics in the way it produces a false identity.

Counterfeit fraud

Counterfeiting: The most widespread

Counterfeiting is the most widespread type of document fraud. It involves the complete reproduction of an official identity document.

The identification of a counterfeit can be more or less easy, depending on its quality.

Identity theft and AML/CFT

Identity theft: scare yourself

Identity theft is particularly frightening for victims. The fraudster uses an identity document belonging to the victim .

As the document is authentic, the identity validation stage provided by the LCB-FT standard is crucial for detecting identity theft.

Documentary forgery

What is forgery?

Falsification involves the fraudulent alteration of an authentic document. This can involve falsifying a document's validity date, identity details or photograph.

Falsified documents may appear genuine at first glance, making them difficult to identify.

Fighting fraud

2 lesser-known techniques

Blank stolen documents are genuine documents that have been stolen before being issued. These can be completed by the fraudster.

Fake documents are created from scratch by the forger. They do not exist; they have never been issued.

Relationship entry

Check your customers' identity right from the onboarding stage

Onboarding is a crucial stage in the customer journey. Verifying the identity of your customers shouldn't spoil their experience. Here are a few tips to help you meet your legal obligations in terms of customer knowledge, while offering a smooth and enjoyable digital experience.

Fast anti-fraud control

Live verification

Offer your customers a seamless and complete experience with live identity verification. Our tool performs all the necessary checks in a matter of seconds to return a decision on the customer's identity.

Integration of LCB FT control

Seamless integration

Our interfaces integrate seamlessly into your onboarding process. They provide security in compliance with LCB-FT standards. Take advantage of white-label screens customized to your brand.

A route that converts

Conversion boost

Deliver a pleasant customer experience without compromising on the security and compliance of your infrastructure. Bring your onboarding path up to LCB-FT compliance without damaging your conversion rate.

Face identification

KYC remediation

Ensure reliable customer knowledge over time

Streamline your AML/CFT remediation campaigns with IDify. Take advantage of our AI tool to identify customers for whom new documents are required, and facilitate their collection. Reduce the friction involved in requesting supporting documents.

selection aid

Identify missing data

Quickly identify customers to enroll in your remediation campaign. Our AI is trained to detect expired data. Increase the relevance of your AML/CFT remediation campaigns.

Automated route

Automate receipt processing

Save time with automatic voucher processing. Datakeen authenticates, extracts and checks every single receipt.

White paper

Fighting fraud: A complete guide to enhanced security

Learn more about anti-fraud and AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism) standards.

Anti-fraud white paper

Strengthen your LCB-FT systems

Would you like to set up an identity verification process in line with LCB-FT regulations? Contact our experts for a demonstration.

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Find out more about the fight against fraud and LCB-FT standards

Frequently asked questions

LCB-FT & Anti-fraud regulations

Identity verification tools help prevent fraud and identity theft. Datakeen offers online identity verification solutions to prevent fraud. Thanks to artificial intelligence, it is now possible to check the correspondence between a photo portrait and the image on identity documents. In this way, we can validate or reject identity verification.

Official documents are subject to specific controls. We authenticate them by checking the presence and conformity of multiple control points. We also check that the document has not been altered, in order to validate or reject the identity document.

The fight against fraud is based on 3 pillars:

  • Careful control of customer identity at onboarding.
  • Online identity verification on request.
  • Automated remediation procedures for continuous control.