Two people using phones over coffee
  • Fraud Prevention, Identity Verification

A Simple Method of Verifying Identity through Phones

One-time authentication codes through SMS (text messages) have been used for a while as a method of ongoing authentication, but have traditionally been of little use for verifying the identity of a new consumer...

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Homerun
  • Identity Verification, Compliance

Hitting a Home Run

In part 1 I discussed how those in the Fantasy Sports industry (same theory can be applied to any industry) who aren’t playing by the rules are only going to aid the regulatory bodies (states and federal) in their overall scrutiny of the industry; and those regulatory bodies will have real-life scenarios to back their reasoning for the imposing of steeper fines, passing of stricter laws and worst of all, outlawing games of skill.

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Baseball Player Ready to Swing
  • Compliance, Identity Verification

1-2-3 Strikes...You’re Out!

The Fantasy Sports industry has seen its fair share of scandals in recent years such as the alleged “Insider Trading” between key players in the industry. Such disregard for the rules (and general un-sporting conduct) has made it more difficult for all businesses in the Fantasy Sports Industry, such as the temporary bans in some states and stricter compliance regulations all around.

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TaxPro
  • Identity Verification

Preparation Time for Tax Preparers and EROs

With the fall quickly approaching, it is again the time of year for Tax Preparers and Electric Return Originators (EROs) to prepare for the 2017 tax season. Tax professionals increasingly work with their clients on a remote basis (vs. In-Person Transactions), and this shift brings additional requirements for these tax professionals to remain compliant with IRS requirements.

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Family Savings
  • Identity Verification, Legislation

New Guidance on CIP Rule Application for Prepaid Cards

Last week FinCEN (the Financial Crimes Enforcement Network) and federal banking agencies released new guidance for how the CIP (customer identification program) requirements of the Patriot Act are to be applied to prepaid cards.

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