CRC Specialty's Tools + Intel spans a diverse spectrum of industry issues to keep you and your clients informed. This is truly news you can use, coupled with the latest exclusive programs, featured tools, links to compelling news stories, and more.
September 19, 2025
Banking depends on the foundational principle of Know Your Customer (KYC): a regulatory requirement obligating financial institutions to verify the identities of all depositors and borrowers. Historically, after identities were confirmed, banks and credit unions relied on wet-ink signature cards authorizing transactions; however, inadequate verification protocols have led to significant losses, including fraudulent loans, forgeries, wire transfer fraud, money laundering, and regulatory fines.