Verime protects users and partners from security breach

We constantly stress about security breach and ways to protect our users and partners. The following news shows how this has been breached. Over 106million user’s data was hacked. This is the call for more stringent measures to protect customer data and funds. https://www.google.com.sg/amp/s/www.bbc.com/news/amp/world-us-canada-49159859

VeriME is a blockchain based decentralized VaaS (Verification-as-a-Service) ecosystem, and not just a KYC (Know Your Customer) service provider. Therefore, it makes it difficult for criminals to hack thereby reducing identity theft issues.

Furthermore, our users and partners do not store their data with VeriME. It remains only on their devices, hence data security becomes a non-issue when users use VeriME for fulfilling KYC and Payment Authentication requirements. Also, by not storing sensitive information such as PCI DSS [Payment Card Industry Data Security Standards] and PII [Personally Identifiable Information] data during KYC and Payment Authentication processes, VeriME automatically confirms compliance with local data sovereignty and PDPA laws which require that data regarding citizens are not carried to offshore locations.

VeriME protects its users and partners by evaluating many factors. It includes risk profiling, screening and due diligence, and transaction monitoring. KYC also has a very close connection and makes a part of the larger picture of Anti money laundering (AML) process. By setting up strong KYC system organizations can concentrate on growing their business instead of worrying about other issues related to government regulation and other criminal threats as mentioned in this news. Do read this news for more info…