Financial services firms are being given the chance to put their fraud prevention and detection systems to the test.
Fraud prevention software provider Kompli-Global is challenging firms to see how well they can assess and spot issues with a sample range of businesses.
The Great Kompli-Global KYB Bake-Off challenge assesses how well a financial services companies anti-money laundering and know-your-customer (KYC) procedures work.
It comes as the software provider launched a new facility called Kompli Investigate that provides all Companies House data since 1986 as well as information on director convictions, allegations of criminality and associations to adverse events and activity.
“Today’s fraudsters know exactly how to work the system but what we have designed significantly enhances payment providers’ fraud prevention efforts by supplying them with the information they need to really question the business they are taking on,” Martin Pashley, chief commercial officer at Kompli-Global, said.
“Therefore, we feel this is an important challenge to set those businesses either sending, receiving, processing or facilitating payments so they can see how complete their KYC jigsaw is.
“By taking part in our simple challenge, we can quickly show companies the information they might be missing and the potential of already available technology on the market.
“We’re so confident that Kompli-Investigate provides the most complete and accurate KYB insight, we challenge all companies to a ‘Bake-Off’.”
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