Initial Coin Offerings (ICO’s) are fast emerging as the way for a new business to raise capital, due to the removal of intermediaries that are usually involved with investors and companies
Funding for an ICO comes in the form of cryptocurrencies (such as bitcoin) and is then redeemed for another – usually a token – which can be traded and transferred for other cryptocurrencies or currencies on exchanges worldwide.
Bringing Identity Verification To Crypto ICO Token Sales
Cryptocurrencies and Initial Coin Offerings raise many questions with regards to Anti-Money Laundering (AML), Know Your Customer (KYC), crime and terrorism financing regulation.
The funding system presents significant risks for Initial Coin Offerings – such as being used to launder proceeds of crime, by redeeming those proceeds as tokens and swapping those tokens for a cryptocurrency, to then later being sold or exchanged Sterling, Dollars, Euros or another currency.
The lack of recordkeeping in Initial Coin Offerings, the vast sums involved and the speed at which tokens and current can be obtained, traded or exchanged make them attractive proposition money laundering.
Credas checks multiple data sources to ensure your clients are not a financial crime risk and cause unnecessary risk to your business.
Core features
Features
- Verify anytime, anywhere with the user-friendly Credas portal and mobile app
- Up to 97.7% accuracy with our facial recognition software, and 100% NFC chip reading.
- All data stored in the EU – Microsoft Azure Cloud – a globally recognised, secure and trusted platform
- Simple, seamless integration with your existing CRM and onboarding processes
- Save hundreds of weekly staff hours and their associated costs
How Can Credas Help You?
- Credas helps clients perform checks in real-time using cutting-edge facial recognition – reducing the complex, time-consuming, resource intensive and often, expensive processes.
- By working with a wide range of leading commercial data suppliers, Credas offers comprehensive checks on individuals, companies, and verify over 4,000 types of identity documents.
- Credas enables firms to manage the complexity of onboarding and monitoring customers and employees while ensuring our clients meet the highest compliance obligations.
- Multiple data sources mean we offer industry leading accuracy when it comes identity checks, more than any other solution available today.