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Trulioo adds Canadian data sources to its ID verification product

Tuesday 25 April 2017 00:04 CET | News

Trulioo has announced that its GlobalGateway solution has added new Canadian data sources geared towards helping businesses to verify thin-file customers.

This expansion aims to help regulated money services businesses (MSBs) meet Canada’s financial intelligence unit, FINTRAC’s (The Financial Transactions Reports Analysis Centre of Canada) amended Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

Regulated businesses that are governed by this act include banks, money services businesses, and financial services providers, casinos, credit unions, dealers in precious metals and stones, life insurance, remittances business, securities dealers and real estate.

The amended Canadian law will come into full effect on June 30, 2017. The new rules detail acceptable methods to ascertain the identity of individual clients to ensure compliance with AML and KYC regulations. Available through a single API integration, GlobalGateway’s quality data sources boosts identity checks with rates against a wide variety of Canadian data sources, such as credit, mobile, and utility data to quickly verify customers and onboard them in real-time.

Trulioo is a Canada-based financial technology company that offers identity verification services for businesses and organisations worldwide using government and private databases.


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Keywords: identity verification, API, regtech, Trulioo, Canada, FINTRAC, AML, KYC, GlobalGateway, data
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions