Regulatory compliance refers to the process of adhering to all laws and regulations that apply to an organization's industry and operations. In the financial and identity verification space, this includes multiple frameworks that cover everything from identity verification and data protection to money laundering and fraud reporting. These include [link each or spell out] AML, KYC, GDPR, CCPA, and other data protection or financial crime prevention regulations.
Use case/ examples of regulatory compliance
KYC/ AML adherence: Verifying customer identities and monitoring transaction activities to ensure compliance with anti-money laundering and Know Your Customer regulations.
Data protection: Implementing security measures and privacy controls that meet or exceed GDPR, CCPA, and other applicable data protection requirements.
Audit preparation: Maintaining documented identity verification processes and comprehensive records that demonstrate complete regulatory compliance for examiners.
