<ul><li>Banks and supply chains face challenges in merchant onboarding due to fake merchants, false storefronts, and money laundering.</li><li>Artificial intelligence (AI) is being used by fraudsters to create convincing websites and fake storefronts.</li><li>98% of B2B firms reported fraud attacks, resulting in a loss of 3.5% of annual sales revenues on average.</li><li>Beneficial ownership is crucial for improving know your business (KYB) efforts and complying with anti-money laundering (AML) regulations.</li></ul>

Beneficial Ownership Rules Spotlight Merchant Onboarding Challenges

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