iDenfy has introduced a Criminal Background Check feature within its identity verification and fraud prevention suite, enhancing businesses' capacity to automatically search government databases for criminal links.
This tool aims to refine risk assessment procedures, particularly benefiting U.S. entities and their clients through improved access to official databases during client onboarding and ongoing business interactions.
iDenfy's initiative in 2024
In 2024, the financial sector saw consumer reports indicating losses exceeding $12.5 billion due to financial crimes, a marked 25% rise from the prior year.
iDenfy's latest feature is particularly pivotal for onboarding corporate clients, scrutinising company directors, shareholders, and essential personnel against global criminal records and sanction lists to assess compliance risks in forthcoming transactions.
Enhanced screening with AI-powered technology
iDenfy facilitates a close PDF report that details the person or entity being assessed, offering an in-depth breakdown
The Criminal Background Check tool transcends typical screenings by leveraging AI to examine official government databases for criminal history, providing detailed insights such as offence type, severity, case information, sentencing, and release dates. This comprehensive overview supports compliance teams in rendering informed decisions rapidly.
Furthermore, its advanced AI algorithms ensure even incomplete records are accurately identified, minimising the chances of overlooking essential information. iDenfy facilitates a consolidated PDF report that details the individual or entity being assessed, offering an in-depth breakdown that includes verified identity data.
Comprehensive data integration
The report generated includes verified personal and corporate identity data, classifications of offences, case statuses, and other critical legal information like arrest records and warrants.
iDenfy CEO Domantas Ciulde stated, "By connecting all systems and searches into our RegTech platform, we eliminate the need for manual queries across multiple sources and provide analysts with comprehensive records in real-time."
Supporting regulated industries
Criminal Background Check tool caters to highly regulated sectors such as banking and fintech
The Criminal Background Check tool caters to highly regulated sectors such as banking and fintech, aiding large enterprises in managing customer volumes, preemptively detecting potential risks, and mitigating fraud exposure.
It enables organisations to swiftly identify red flags and maintain audit-ready documents, confirming clients' compliance across multiple jurisdictions.
Access to real-time data
iDenfy's feature grants real-time access to major global law enforcement watchlists and international sanction databases, such as Europol, FBI, and Interpol. This capability aids in uncovering individuals or entities with possible links to illicit activities, offering an additional defense against financial, reputational, and regulatory challenges.
Domantas Ciulde highlighted the regulatory climate: "With regulators worldwide tightening AML requirements, businesses need tools that could provide both accuracy and scalability. Our Criminal Background Check feature helps clients not only meet compliance demands but also protect their reputation and long-term customer relationships."
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iDenfy, a pioneering identity verification and fraud prevention software provider, announced the launch of its Criminal Background Check feature, allowing businesses to automatically screen different government databases, extract information about an individual, and help find out if they have links to crime.
This helps streamline access to official government databases from all U.S. states and improve risk assessment practices, especially for U.S.-based entities and their clients that need to be thoroughly reviewed before onboarding or throughout the whole business relationship.
iDenfy’s criminal background
In 2024, consumers reported losing more than $12.5 billion to financial crimes, which reflects an approximately 25 percent increase over the previous year. iDenfy’s criminal background check function is especially valuable to onboard corporate clients, vendors, and partners, as it allows for screening a company’s directors, shareholders, and key personnel against global criminal and sanction databases.
This capability helps organisations determine whether a potential client or partner poses a compliance risk before engaging in high-value transactions or business relationships.
Advanced AI-powered data matching
The latest Criminal Background Check feature goes beyond standard screening results. It automatically scans and looks through official government databases to find any criminal records. It shows details like the type of offence, how serious it was, the court case information, sentencing date, and release date.
In this way, by providing a comprehensive and audit-ready overview, iDenfy can help compliance teams to make informed decisions quickly and effectively.
The tool also incorporates advanced AI-powered data matching to ensure that even incomplete or inconsistent criminal records are accurately flagged, to minimise the risk of missing critical information. All data can be compiled in a single PDF report with a full breakdown of the individual who is being screened.
Personal and corporate identity data
The report includes verified personal and corporate identity data, offence classifications, case statuses, arrest records, warrants, court documents, inmate information, sex offender registries, and adverse media coverage.
According to Domantas Ciulde, the CEO of iDenfy, the new feature saves time and the hassle for compliance officers because it enables centralised access to all U.S. federal and state criminal databases:
“By connecting all systems and searches into our RegTech platform, we eliminate the need for manual queries across multiple sources and provide analysts with comprehensive records in real-time,” explained Domantas Ciulde.
New Criminal Background Check
The report includes verified personal and corporate identity data, offence classifications, case statuses, arrest records, warrants, court documents, inmate information, sex offender registries, and adverse media coverage.
This functionality supports all regulated industries, such as banking and fintech, helping large-scale entities in managing high customer volumes, detecting potential risks earlier, and reducing exposure to fraud.
The new Criminal Background Check helps organisations detect red flags much faster, not to mention the ability to maintain audit-ready documentation instantly, check whether the individual has had any criminal offences, including details like court cases, offence class, and release dates, and gain full confidence knowing if the users could meet stringent compliance obligations across multiple jurisdictions.
Real-time data access
For effective Anti-Money Laundering (AML) screening and for those that want to automate various compliance tasks, iDenfy also offers real-time data access from the main global law enforcement watchlists and international sanction databases, including Europol, FBI, NCA, Interpol, World Bank, SECO, and many more worldwide.
This enables organisations to identify individuals or entities potentially linked to illegal or unethical activities and provide an added layer of protection against financial, reputational, and regulatory risks.
Domantas Ciulde, CEO of iDenfy, added: “With regulators worldwide tightening AML requirements, businesses need tools that could provide both accuracy and scalability. Our Criminal Background Check feature helps clients not only meet compliance demands but also protect their reputation and long-term customer relationships.”
