Electronic Identity Verification Reduces Ecommerce Fraud by 90%

Ecommerce companies never seem to get ahead of sneaky fraudsters. Z1 Motorsports was no exception. Even after adopting an intensive 7-minute process to verify its customers, the company still suffered annual losses of $250,000, plus labor costs. Z1 realized something needed to be done - the automotive parts retailer called on Melissa for help with digital identity verification. After just one…

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OFAC and KYC Loom Large for Financial Institutions

 In the alphabet soup of government agencies, OFAC looms large for financial institutions. Sometimes considered one of “the most powerful yet unknown" government agencies, the Office of Foreign Assets Control—a part of the Treasury Department—enforces economic and trade sanctions in support of U.S. national security and foreign policy. Simply put, many bad actors attempt to realize their plans via financial…

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