FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
FXCC information and reviews
FXCC
90%
Markets.com information and reviews
Markets.com
89%
FxPro information and reviews
FxPro
88%
EUR/USD
1.1726
BTC/USD
43 505.82
GBP/USD
1.3657
USD/JPY
109.3880
USD/CHF
0.9278
USD/CAD
1.2820
EUR/JPY
128.2692

LegacyFX Partners with Sum and Substance Ltd.


15 January 2021

LegacyFX is pleased to announce their collaboration with Sum and Substance Ltd., a UK based KYC and AML compliance firm, across all our platforms. Founded in 2015, SumSub works with thousands of document types from hundreds of countries, in a multitude of languages, to ensure proper checks and verification.

The company understands the importance of mitigating and managing risk, both for itself as a financial provider as well as to better understand our clientele. Doing so allows us to properly identify our customers, minimize potential fraud, eliminate criminal or money laundering activities, and overall understand our customer’s personal and financial dealings. As such, we have chosen to significantly improve customer data protection and security as well as streamline our process of KYC collection, through SumSub’s automated services.

SumSub provides a comprehensive platform specifically built on a risk-based approach and compliant with various regulatory bodies such as, FATF, FINMA, FCA, CySEC, and MAS. Notable clientele of theirs include MasterCard, Flippa, Exness, Danapay, YouDo, the National Bank of the Republic of Belarus, Dabrabyt Bank, National Bank of Ukraine, and Pravex Bank. Overall, their toolkit enables customer onboarding, KYC verification, AML procedures, and proper data handling measures, all in a user friendly design. They do this by determining the authenticity of an identifying document, comparing the photo in the document to the user’s selfie, checking the user’s age and nation of origin, automatically flag forged documentation, correctly identifies liveliness of real human faces versus holograms, and checks photos and documentation against their internal database of fraudulent materials.

“Our goal was to make our KYC process easier and faster not only for our customers, but also for our Compliance Department as well. With SumSub, we will now have fast and transparent checks that allow us to identify fraud, fake documents, and money laundering activities, all in a people-friendly interface that is customized to our specific needs to not only improve our workflow but also upholds our security standards.” - Violeta Koleva, Risk & Fraud Officer

The company aims to use SumSub’s identifying documents verification, AML screening (PEP, Sanctions, Adverse media checks), payment fraud prevention, and liveness/face matching services. Their payment method fraud prevention and verification tool assures that a credit card belongs to the user by identifying potentially stolen bank cards before a transaction is even made. This is achieved by a user uploading a photo or screenshot of their payment method right before the transaction, with SumSub verifying it instantly, while complying with PCI and DSS regulations of blurring the cards information automatically.

#source

Related

Trade Forex CFDs with your Multi-Asset Broker IronFX
Trade Forex CFDs with your Multi-Asset Broker IronFX

With over 1.200.000 million retail clients, the best trading conditions and a 24/5 multilingual support, IronFX is the preferred choice for those who want to trade Forex CFDs...

20 Sep 2021

El Salvador Just Became Latin America's First Bitcoin Nation
El Salvador Just Became Latin America's First Bitcoin Nation

Why crypto is more than a currency and how El Salvador just became Latin America's first bitcoin nation. Last week, El Salvador became the first country in the world...

20 Sep 2021

The Full Crypto Trading in FBS Trader
The Full Crypto Trading in FBS Trader

FBS Trader, an all-in-one trading platform, released a Crypto account to expand crypto trading opportunities. Keeping up with trends, the FBS broker aspires to create...

17 Sep 2021

Olymp Trade's 7 Years of Super Trading
Olymp Trade's 7 Years of Super Trading

Olymp Trade's 7th anniversary will be marked by a unique trading tournament, the Super 7 Quest. Traders can manifest their superpowers and earn rewards!

17 Sep 2021

New Economic Calendar Feature Added to FBS Personal Area and Apps
New Economic Calendar Feature Added to FBS Personal Area and Apps

FBS, an internationally recognized online trading broker, has added a new Economic Calendar feature to its browser Personal Area and the apps: FBS - Trading Broker and FBS Trader...

17 Sep 2021

HotForex offers CFD Trading on 900+ DMA Stocks
HotForex offers CFD Trading on 900+ DMA Stocks

Traders with the internationally acclaimed multi-asset broker HotForex can expand their portfolio by trading CFDs on more than 900 DMA stocks - meaning they can place their...

16 Sep 2021


Editors' Picks

OctaFX information and reviews
OctaFX
86%
HotForex information and reviews
HotForex
85%
XM information and reviews
XM
80%
FXCM information and reviews
FXCM
79%
Vantage FX information and reviews
Vantage FX
78%
Moneta Markets information and reviews
Moneta Markets
77%

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.