Sometimes we need a helping hand when we are looking into our user's identity, connections, and location. We make use of certain resources so that we can do this part of our job well. IDM is one of the most important resources that we use to verify users.Here is a brief introduction to IDM 🔗
What is IDM?
IDM (IdentityMind) is a risk management platform, that takes all the user’s information (name, date of birth, address, IP, etc) and checks it against other users in our database. In addition, IDM checks the user’s location, if he uses a proxy, and if he is listed on any PEP (Politically Exposed Person) list or sanctioned people list.
Every transaction the user makes is listed and organized by date - whether he placed an order or upload documents for verification. The transactions of orders also show the purchase amount.
IDM also shows us the Maxmind results so that we can see if a user is in the place they say they are. This is most helpful for our American users so that we can see if a user is really in a supported state. It is also helpful to show us if a user is using an APO or proxy. A proxy allows users to mask their location but often times users may not be aware they are using one.
IDM also helps us to detect users that have more than one Coinmama account and users that are connected to other accounts (either by IP or device signature). This means we can see if our users have any connections that may be questionable. From here we are better able to identify which users are connected and need to be in an entity or group.
When IDM shows us the connection is to an existing account of the same user we are able to remove duplicates from our systems. This benefits us because we don't have to deal with reviews and purchases from multiple accounts. It also benefits the user because having to remember login details for multiple accounts can be confusing and frustrating.
IDM shows us if the name or address details of our users match any of the Sanctioned lists that IDM uses. This is consequential as it allows us to identify users who have a great deal of risk associated with their business. This ultimately allows us to prevent money laundering and funding of terrorist activities.
IDM Rule Hits
When we have a failed IDM check we have to check IDM to see which rule was hit. This allows us to better understand how to handle the application. To see more about all the IDM rule hits please see our failed IDM articles: