Resources

Articles

Synthetic identity fraud is an invisible threat infiltrating businesses at alarming rates. Fraudsters create fake personas by stitching together real and fictitious information – a “Frankenstein” identity – to open accounts and commit crimes undetected. The result? The fastest-growing form of identity theft, costing businesses billions globally​. In the U.S. alone, the average loss per synthetic fraud case is around $15,000, and shockingly over 80% of new account fraud today is attributed to synthetic identities​. This isn’t a niche issue; it’s a growing epidemic. Nearly half of organizations worldwide experienced synthetic identity fraud in the past year, and 91% of U.S. companies see these fake identities as a growing threat​. Looking at recent trends, suspected synthetic fraud incidents rose 21% in just one year (184% since 2019)​. In short, synthetic identities have become a favorite weapon of cybercriminals – and no industry is immune.

Articles

Age verification has become a critical compliance checkpoint for online businesses – from iGaming platforms and online casinos to social media networks and content sites. Lawmakers in the United States and Europe are increasingly focused on keeping minors away from age-restricted content and services. This means companies must verify users’ ages and meet strict legal standards, all while respecting user privacy. In this article, we’ll explore the key age verification laws in the U.S. and Europe (including regulations like GDPR, COPPA, KYC requirements, and the EU Digital Services Act) and what they mean for industries like online gambling and social media. We’ll also discuss whether businesses are required to use specialized age verification tools (such as biometric age-check SDKs like Bynn.com), and how privacy-preserving methods – like facial age estimation and zero-knowledge proofs – can confirm a user's age without storing sensitive data. Finally, we’ll clarify the difference between age verification and full identity verification, and why each serves a different purpose.

Articles

Ever had a legitimate customer blocked by your KYC system even though they were who they claimed? That’s an example of a false rejection. Or worse, imagine a fraudster slipping through as a verified user – a false acceptance. In identity verification, these two error metrics are critical. The False Rejection Rate (FRR) measures how often a good user is mistakenly rejected, while the False Acceptance Rate (FAR) measures how often a bad actor is wrongly accepted.

Articles

Financial institutions worldwide face a critical balancing act in digital identity verification (IDV). Traditional banks and fintech startups both must verify customer identities to meet Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, but they often approach the task differently. This thought leadership overview compares how legacy banks and agile fintechs tackle IDV – from compliance hurdles and onboarding workflows to the latest innovations in AI-driven verification. We also explore global regulatory landscapes and fraud prevention strategies, highlighting key differences in approach.

Guides

Know Your Customer (KYC) is the process of verifying customer identities and background to meet Anti-Money Laundering (AML) requirements. In the crypto industry, KYC has become essential for exchanges and wallet providers to operate legally and safely. KYC for crypto typically involves a set of steps during user onboarding to confirm who the customer is and assess their risk – steps which are legally required under financial regulations​. By implementing robust KYC procedures, crypto platforms can deter illicit activity; vigorous identity checks make it much harder for criminals to launder money or commit fraud through an exchange, effectively dissuading bad actors from using that service​. This not only protects the business and its users from fraud and theft, but also builds trust, allowing crypto exchanges and wallets to integrate with the broader financial system. In short, strong KYC compliance helps legitimize the crypto industry, making it safer and more credible for everyday users and regulators alike.

Whitepaper

Online gaming and gambling operators face stringent legal obligations to prevent underage participation. Around the world, regulators have enacted laws to ensure that only individuals above a minimum legal age (usually 18 or 21) can gamble online. Compliance with these age verification laws is not only a legal mandate but a core component of responsible gaming practices. Failure to keep minors out can lead to hefty fines, license revocations, and reputational damage for operators. For example, in the UK, even a single instance of a 16-year-old placing a small bet led regulators to impose penalties amounting to 2.5% of annual revenues on the bookmakers involved​, illustrating how serious the enforcement can be.