Identity verification and fraud prevention specialist iDenfy has introduced a new Criminal Background Check feature as part of its database screening suite.

Streamlining Compliance Risk Assessment

This innovative capability allows businesses to efficiently screen potential clients, partners, or employees against various government databases. It helps in identifying if an individual has a history linked with criminal activities. Specifically, it offers simplified access to data from all US states, aiding organizations in optimizing their risk management strategies, particularly for those based in the United States who need thorough reviews before onboarding new clients.

Enhancing Onboarding Processes

The Criminal Background Check feature is especially beneficial during the initial stages of client or partner onboarding. It enables businesses to screen not only the individuals involved but also their associated company’s directors and shareholders, ensuring that no compliance risks are overlooked.

Beyond basic screening results, iDenfy’s solution automates the process by scanning official government records for any criminal history. The report provides detailed information such as the nature of the offense, its severity, court case details, sentencing and release dates. This comprehensive overview supports compliance teams in making well-informed decisions more swiftly.

Advanced Data Matching Technology

The Criminal Background Check incorporates advanced artificial intelligence to match data accurately, even when records are incomplete or contain inconsistencies. By doing so, it minimizes the risk of overlooking crucial information. Each screened individual’s report includes verified personal and corporate identity details, offence classifications, case statuses, arrest and warrant records, court documents, inmate information, sex offender registries, and adverse media coverage.

In regulated industries like banking and fintech, this functionality is crucial for managing high customer volumes. It helps in early detection of potential risks during onboarding, thereby reducing the likelihood of fraud. iDenfy asserts that these tools are essential as regulatory bodies around the world increase Anti-Money Laundering (AML) standards. The company aims to assist its clients in meeting compliance requirements while safeguarding their reputations and long-term customer relationships.