Sumsub has introduced a public registry to recognise companies with strong fraud prevention and compliance frameworks, rolling out what it calls the Risk Intolerant badge.
The verification and fraud prevention firm said businesses across fintech, crypto, gaming, edtech and mobility can have their controls assessed.
Eligible companies receive a badge as public proof of their digital safety efforts.
Following its assessments, Sumsub has awarded badges across multiple tiers.
Dozens of companies received Vanguard badges, while selected firms such as Exness, Kaizen and Moove were awarded Sentinel badges.
CoinList, Mercuryo and Wirex received Titan badges, the highest level of recognition under the programme.
“With our Risk Intolerant project, we’re celebrating the resilience our clients build with us in the fight against fraud. We want to shift the narrative around risk and compliance from reactive to aspirational, and the way we see it is to spotlight the companies doing the hard, often invisible work of managing risks proactively before they turn into crisis.
To promote industry-leading practices among peers, we’re taking the lead to assess KYC, AML, fraud prevention and compliance systems of willing participants and provide recognition for those whose efforts in risk mitigation are comprehensive, up-to-date and successful.”
said Vitaly Gribanov, Senior Brand and Creative Director at Sumsub.
Sumsub said the badges reflect a company’s practices at the time of assessment and do not guarantee future performance or risk-free operations.
Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik
