Why ID4-S is Different

Identity Verification (IDV)

One of the fastest growing markets in recent years is Identity Verification, or IDV - a market that was worth $8.92 billion in 2021 and is expected to reach $18.49 billion by 2027 (Mordor Intelligence).


Identity Verification does exactly as described, verifies the identity of an individual, and it does this by getting the individual to take a 'selfie' and capture a picture of either their Passport or Driver's Licence then biometrically compares the two to prove that the holder of the ID is the person in the 'selfie'.





Depending on the service you use, there are a number of additional capabilities that may also be included; video capture for 'liveness' checks, detailed format checks to spot tampering of ID, Optical Character Recognition to read Machine Readable Zones (MRZs), etc. The main point is that IDV provides a degree of confidence that the person undertaking the IDV check is who they say they are. IDV within risk business functions has become synonymous with "Know Your Client" processes.


ID4-S provides this capability, but this is not what makes ID4-S different.


Customer Due Diligence

The Money Laundering, Terror Financing and Transfer of Funds Regulations 2017 states that any relevant person must apply customer due diligence measures if the person undertakes any of the following (high-level summary):


  1. Establishes a Business relationship

  2. Carries out occasional transactions or transfers funds exceeding €1,000

  3. Suspects money laundering or terrorist financing, or

  4. Doubts the veracity or adequacy of any identity documents



The accepted approach to customer due diligence has typically meant verifying the address details of a person against more than one credible data source - typically Credit Header files (Bank Account, Credit Card, Mortgage, Store Card, etc.). Customer due diligence within risk business functions is also referred to as Basic AML (Basic Anti-Money Laundering).


ID4-S provides this capability, but this is not what makes ID4-S different.


Enhanced Due Diligence

The Money Laundering, Terror Financing and Transfer of Funds Regulations 2017 also states that enhanced due diligence and enhanced monitoring must be undertaken to manage and mitigate risk arising in the following scenarios (high-level summary):


  1. A high risk of money laundering or terrorist financing

  2. Any business relationship or transaction with a person established in a high-risk third country

  3. Correspondent relationships with a credit or financial institution

  4. The customer, or potential customer, is a PEP (Politically Exposed Person) or family member or close associate of a PEP

  5. The customer has provided false or stolen identification documentation

  6. The transaction is complex, unusually large, or does not have any apparent economic or legal purpose

  7. By its nature can present a higher risk of money laundering


To meet enhanced due diligence requirements, the relevant person would undertake all customer due diligence and further check for:


  1. Political Exposure

  2. Sanctions

  3. Adverse Media


For Sanctions checks, the relevant person would check the OFSI (UK) and OFAC (USA) sanctions list. Similar checks would need to be made for PEPs and Adverse Media.


Lastly, a business that has to meet enhanced due diligence would need to routinely monitor their customer for the duration of the relationship and be able to act if anything changes - this is known as Ongoing Monitoring & Screening.


Enhanced due diligence within risk business functions is also referred to as Enhanced AML (Enhanced Anti-Money Laundering).


ID4-S provides this capability, but this is not what makes ID4-S different.


So What Makes ID4-S Different?

ID4-S provides all the digital components needed for any business to meet all requirements of the Money Laundering, Terror Financing and Transfer of Funds Regulations 2017.


Intuitive Products to Meet Business Need

ID4-S has built a set of digital services that means even the most inexperienced business user can immediately start issuing compliant IDV, KYC, and AML checks. ID4-S provides these services in a combination that meets your business needs:


  1. ID Verification (IDV)

  2. Basic AML (Customer Due Diligence)

  3. Enhanced AML (Enhanced Customer Due Diligence)

  4. PEPs, Sanctions & Adverse Media (PSAM)

  5. Ongoing Monitoring & Screening

  6. IDV & Basic AML

  7. IDV & Enhanced AML

  8. IDV & PEPs, Sanctions & Adverse Media

  9. IDV & Ongoing Monitoring & Screening


Pay as You Go & Subscription Packages

ID4-S recognises that every business is different and demand can change month to month, this is why ID4-S allows you to simply use its service "Pay as You Go". Alternatively, if you know that you will need a minimum number of checks, subscribe and benefit from a discount on all transactions.


ID4-S does not require a long-term contract and you can cancel at any time - no commitment required.


Transparent Pricing

ID4-S is completely transparent about its pricing, and we also think it represents the best value for money in the IDV AML sector.

















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