iDenfy, a Lithuania-based identity verification, fraud prevention, and compliance company, announced the launch of its Criminal Background Check tool.
The solution will help enhance KYC/KYB and AML compliance by accessing up-to-date international criminal databases from all US states, pulling and extracting data on all individuals who are being screened.
The solution will help save time and automatically generate reports with all data found in a single PDF file, enabling faster red flag detection and identification of high-risk individuals.
Detecting and preventing fraud
iDenfy’s Criminal Background Check works like an advanced due diligence tool
iDenfy’s Criminal Background Check works like an advanced due diligence tool that allows companies to detect and prevent fraud by screening official government databases and other trusted data sources online.
The process covers federal, state, county, and local records, including arrest histories, prosecutions, warrants, sex offender registries, inmate data, parole lists, court documents, and even adverse media, also known as the negative news mentions, any publicly available information that links an individual or organisation to potentially illicit or unethical activities.
Criminal Background Check integration
“Unlike time-consuming manual due diligence that involves hours of looking through multiple different databases, our system pulls everything together and delivers criminal record results in seconds,” explained Domantas Ciulde, the CEO of iDenfy.
With the new, no-code Criminal Background Check integration in iDenfy’s dashboard, businesses are able to simply run these checks and meet standard Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money laundering (AML) procedures, without adding extra complexity in terms of integration.
Ultimately, doing such criminal background checks helps institutions to determine whether a customer or corporate entity could possibly pose compliance risks before entering into further business relationships or approving high-value transactions.
New features
This approach helps to verify over 3,000 types of identity documents from more than 200+ countries
The new feature combines automated AI-driven identity verification, used on every company or individual, with real-time access to official government records.
Firstly, biometric verification is needed in order to prevent fake identities from being registered on the platform and to avoid any threats in advance. This approach helps to verify over 3,000 types of identity documents from more than 200+ countries worldwide.
After successful user verification, the system checks data sources connected to one platform. The criminal background checks are able to deliver instant reports that summarise red flags, criminal records, and compliance insights.
Risk profile
Each report provides a risk profile with details such as personal data verification, offence classifications, case statuses, country and release dates. It can also be set depending on the risk profile and the user needs to determine which people can be more dangerous to onboard on the platform.
Results are formatted into downloadable PDF reports that compliance teams can use for Enhanced Due Diligence (EDD) and audit-ready documentation. This helps instantly get your hands on a detailed, on-demand report of a person’s criminal history and helps prevent high-risk individuals from onboarding.
The new check feature plays a meaningful role in workforce onboarding and high-risk regulated industries, such as banking, fintech, cryptocurrency, real estate, or iGaming, where compliance with laws like the USA Patriot Act is mandatory, requiring companies to apply a risk-based approach to onboard and continuously monitor new accounts.
Benefits of the new feature
The new feature is particularly beneficial to onboard corporate clients and vendors
iDenfy highlights that the new feature is particularly beneficial to onboard corporate clients and vendors, as it ensures that the directors, shareholders, and other key individuals are thoroughly scanned against global watch lists and criminal databases.
Generally, the Criminal Background Check will help US businesses go one step further and access other relevant data, particularly linked to a person’s criminal history.
All findings in the system are easily highlighted, helping compliance teams decide the next steps and whether it’s the right decision to onboard and accept a person with a criminal record.
Adjustable screening settings
“You can mix our solutions and enable the features you need with a few clicks, no coding required. For US companies, tools like the Secretary of State database check or Criminal Background Check make both KYC and KYB onboarding easier. Just adjust your screening settings and quickly detect high-risk clients, defining what you want to do next,” said Domantas Ciulde, the CEO of iDenfy.
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