Aite-Novarica Impact Awards in Fraud and AML

The solution was selected because it helps organizations meet expanded regulatory requirements related to the use of IP address and geolocation as a control for digital sanctions evasion. Financial Crime Digital Intelligence also helps organizations better detect location-based sanctions risk, particularly when evaders are attempting to obscure their true location with technologies such as proxy or VPN.

Financial Crime Digital Intelligence is underpinned by the LexisNexis® Digital Identity Network® that provides a rich source of shared global digital identity and location intelligence collected from a broad range of industries. On every transaction across the Digital Identity Network®, up to 10 different location signals are gathered. Using this rich data combined with triangulation and proxy-piercing capabilities makes it possible for Financial Crime Digital Intelligence to unmask the likely true location of an entity, even when it is obscured.

Digital channels have become the new darling of criminals seeking to launder money or evade international sanctions. Organized crime networks capitalize on the anonymity in digital channels, easily eluding current controls by presenting themselves as an entity other than their own or spoofing location with proxy, VPN or TOR browsers. Since Russian sanctions were initiated in February 2022, demand for VPNs in Russia has increased. The LexisNexis® Digital Identity Network® recorded a 250% increase in payments made on devices using a TOR browser or VPN as well as a substantial surge in high-velocity and geo-spoofing transactions. Regulatory focus on digital threat vectors is also intensifying, reinforcing the imperative for heightened vigilance on detecting and preventing location-based sanctions evasion. LexisNexis® Financial Crime Digital Intelligence provides the innovative capabilities required to help manage emerging regulatory requirements and elevated digital sanctions evasion risk.

We can help your business accelerate investigations and meet emerging regulatory requirements using dynamic identity visualization tools. Connect with us to learn more about LexisNexis® Financial Crime Digital Intelligence.