Episode Details

The supranational Financial Action Task Force has recognised that geolocation data is a necessary part of digital identity and KYC verification. Separately, the UK’s Financial Conduct Authority recently included geolocation data as one of the criteria to be used for the purpose of KYC/territorial compliance for AML. If a taxi driver (Uber), barista (Starbucks) and waiter (Doordash) all know their customers’ location, says Geoguard, it’s time that bank/eWallets/eBrokers do too, for the purposes of preventing fraud and other financial crimes via a stronger digital identity.