iDenfy, a compliance service provider, has announced a partnership with GlolinkOTC to integrate KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions into GlolinkOTC’s fiat-to-crypto exchange service. This collaboration aims to improve the onboarding process for users, enhance security, and ensure regulatory compliance.
iDenfy’s solutions will automate GlolinkOTC’s verification processes, including features like adverse media screening, checks for Politically Exposed Persons (PEPs), and sanctions assessments. As cryptocurrency regulations tighten due to increasing fraud and security breaches (USD 739.7 million stolen in Q1 2024), the partnership underscores the importance of robust identity verification and compliance measures.
GlolinkOTC aims to stay ahead of regulatory demands while offering a smooth user experience. iDenfy’s automated verification of government-issued IDs and real-time AML screening ensure a secure and rapid onboarding process for users, improving both compliance and satisfaction.