Since 2022, Youverify has expanded its real-time business verification coverage to 145 jurisdictions across 48 countries.
Across these countries, Youverify processes 4 million monthly applications for over 3,500 businesses with 800 active clients.
Additionally, the platform’s capacity to verify IDs has expanded from 400 million to 5 billion people — as well as 600 million businesses across various industries such as gaming, travel, healthcare, and telecommunications.
“Individuals and businesses can verify their identity, registration status and ownership using their government data through Youverify.
In addition, we launched our anti-money laundering and risk classification product to address some of these industries,” the CEO noted.
Financial Intelligence Unit, an Indian government agency which scrutinizes financial transactions, said Thursday nine global crypto exchanges — including Binance, Kraken, Kucoin and Mexc — are operating “illegally” in the country without complying with the local anti-money laundering act and asked the IT Ministry to block their websites.
Global crypto exchanges are required to comply with India’s anti-money laundering rules and cannot evade the guidelines just because they don’t have physical presence in the country, the government agency said.
Cryptocurrencies were brought into the ambit of anti-money laundering / counter financing of terrorism framework in India in March this year.
India began taxing virtual currencies last year, levying a 30% tax on the gains and a 1% deduction on each crypto transaction.
“Most Indian crypto exchanges are FIU registered entities and adhere with the Prevention of Money Laundering Act.
Hawk AI sees itself as the “anti-money laundering” solution for financial institutions, by tracking suspicious and abnormal activity. With this new round of funding, the company looks to continue expanding…
