Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Trulioo Expands Data Sources for Canada’s New AML Rules for Remote Identity Verification
  • USA - English


News provided by

Trulioo Information Services Inc.

Apr 25, 2017, 06:00 ET

Share this article

Share toX

Share this article

Share toX

Trulioo Adds New Reliable Sources for Identity Verification in Canada
Trulioo Adds New Reliable Sources for Identity Verification in Canada

Vancouver, British Columbia (PRWEB) April 25, 2017 -- Trulioo, the leading RegTech company that provides instant electronic identity verification for cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance, today announced that its award-winning solution, GlobalGateway, has added new Canadian data sources geared towards helping regulated money services businesses (MSBs) meet Canada’s financial intelligence unit, FINTRAC’s (The Financial Transactions Reports Analysis Centre of Canada) amended Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

It’s time the rules kept up with the pace of technology without inhibiting business growth and innovation.

Post this

The expansion is part of Trulioo’s ongoing effort to provide businesses with secure access to the most comprehensive, reliable, and real-time data marketplace. The new data sources provide both enhanced breadth and depth of coverage so businesses can have unprecedented access to over 200 trusted data sources to verify 4 billion global identities.

“Access to a rich data source market is the cornerstone towards furthering financial inclusion in Canada, enabling individuals with thin-files, lack of identity records or financial history such as immigrants, foreign workers, fresh graduates, and refugees to be verified and participate in the Canadian financial system,” said Stephen Ufford, CEO of Trulioo. “We help MSBs implement a frictionless identity verification program that adheres to FINTRAC’s Single and Dual Process methods to verify customers in a matter of seconds.”

The amended Canadian law was enforced as of June 30, 2016 and will come into full effect on June 30, 2017. The new rules detail acceptable methods to ascertain the identity of individual clients to ensure compliance with AML and KYC regulations. GlobalGateway’s quality data sources boosts identity checks with higher pass rates against a wide variety of Canadian data sources, such as credit, mobile, and utility data to quickly verify customers and onboard them in real-time.

FINTRAC’s new AML rules impact the 31,000 regulated Canadian businesses, which are required to comply or risk monetary penalties and loss of reputation. Since 2008, 79 Canadian persons or entities have been fined $3.5 million by FINTRAC for violation of the PCMLTFA act. The new changes pave the way for more clarity on due diligence requirements that businesses need to meet. Regulated businesses that are governed by this act include banks, money services businesses, and financial services providers, casinos, credit unions, dealers in precious metals and stones, life insurance, remittances business, securities dealers and real estate.

Since FINTRAC was created, there have been many changes in how criminal financial activity takes place and how regulators combat it. The development of new technologies and access to reliable, independent data sources creates more impetus to leverage flexible methods for verifying identities online.

With the emergence and rapid growth of online financial services such as robo-advisors, mobile banking, bitcoins and digital payments, non face-to-face transactions are becoming the new normal in the digital era and what consumers are expecting.

“Consumers want ease-of-use and convenience. If they are made to jump through hoops to register, they will abandon the whole process for a better user experience elsewhere,” said Ufford. “It’s time the rules kept up with the pace of technology without inhibiting business growth and innovation.”

An identity verification program is only as good as the data sources that power it. Data quality is the single most important factor in regulatory compliance and risk mitigation verification. Available through a single API integration, GlobalGateway streamlines the deployment process while providing a powerful bank-grade tool to businesses without the hefty costs.

GlobalGateway verifications return comprehensive match information, providing results on each individual attribute including: first name, last name, national ID, address, date of birth and telephone number from multiple data sources simultaneously.

About Trulioo
Trulioo is a global ID verification company that provides advanced analytics from traditional and cyber data sources to instantly verify identities online. The company’s mission is to solve global problems associated with verifying identities online by powering fraud prevention and compliance systems for hundreds of clients worldwide in an effort to increase trust and safety online. Trulioo's bank-grade identity verification product, GlobalGateway, enables businesses to perform frictionless identity verification for 4 billion people in over 60 countries via more than 200 data sources - the widest coverage in the market. GlobalGateway helps businesses comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) identity verification needs, and provides a reliable and trustworthy way for businesses to evaluate new and existing users through one, single portal or API. For more information, visit http://www.trulioo.com.

Kim Hong, Trulioo Information Services Inc., http://www.trulioo.com, +1 (604) 398-4344, [email protected]

Modal title

Access to a rich data source market is the cornerstone towards furthering financial inclusion in Canada
Access to a rich data source market is the cornerstone towards furthering financial inclusion in Canada
Trulioo is the leading RegTech company providing instant electronic identity verification for cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance.
Trulioo is the leading RegTech company providing instant electronic identity verification for cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance.
Available through a single API, GlobalGateway provides results on each individual identity attribute including: first name, last name, national ID, address, date of birth and telephone number.
Available through a single API, GlobalGateway provides results on each individual identity attribute including: first name, last name, national ID, address, date of birth and telephone number.
Access to a rich data source market is the cornerstone towards furthering financial inclusion in Canada Trulioo is the leading RegTech company providing instant electronic identity verification for cross-border Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. Available through a single API, GlobalGateway provides results on each individual identity attribute including: first name, last name, national ID, address, date of birth and telephone number.

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.