IDV

GesturalAbstraction

Backside of the ID contains additional security artifacts not present on front side only — presence of signature, pdf417 barcode (MRZ which the IDV provider can verify contains the same PII that should be on the HRZ as an additional fraud detection check) And then having you provide your face and making some gestures: - corroborates your ownership of the ID through biometric comparison between your face and the selfie - verifies liveness, high risk users often try to spoof this part of the process with paper cut outs, digital manipulation, masks, deep fakes - effectively this is what is preventing little brother from “borrowing” older brother’s ID and PII and commuting family fraud to at best get illegal access to age restricted content or at worst defraud a family member Many verticals including crypto are facing increasing regulatory pressure to use KYC to minimize fraud and protect their otherwise super vulnerable community of users in a new space where FDIC insurance isn’t a thing yet

coinfeeds-bot

tldr; Coinmetro has integrated a biometric smart card from CardLab to make its crypto remittance platform more user-friendly and avoid the risk of a forgotten password making crypto assets unrecoverable. Nymo’s remittance strategy involves providing security for both the sender and receiver through biometric verification. The switch to fully automated IDV took less than 48 hours to implement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Coinmetro has integrated a biometric smart card from CardLab to make its crypto remittance platform more user-friendly and avoid the risk of a forgotten password making crypto assets unrecoverable. Nymo’s remittance strategy involves providing security for both the sender and receiver through biometric verification. The switch to fully automated IDV took less than 48 hours to implement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Trulioo VP of Identity Solutions, Garient Evans, explains what the most important KYC requirements for crypto exchanges are and offers advice on how to meet them. Exchanges must ensure their KYC and crypto compliance procedures are secure, robust, and defendable while guarding the privacy of their clients. Streamlined and low-friction digital identity verification (IDV) can be the cornerstone of KYC. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

burgenic

I guess this is good in that it’s legalized but … having to declare any transaction over 600K Rubles ($8k)? Having to only work with exchanges that require IDV? As I read it this is definitely not good for privacy and decentralization - and is just another attempt by an authoritarian regime to surveil, centralize, and control an asset that should and very well is censorship-resistant, privacy enhancing, and can be exchanged in a decentralized manner. However Russia is effectively making it illegal to do those things as I understand it - I don’t see this as a good thing. This is definitely regulatory overreach couched in a nice headline.