Financial Crime World

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Niger Adopts Stringent AML Regulations to Combat Money Laundering

Niger has strengthened its anti-money laundering (AML) regulations in line with international standards, aimed at curbing money laundering and terrorism financing.

Regulatory Environment

The country’s membership in the Financial Action Task Force (FATF) and Intergovernmental Action Group against Money Laundering in West Africa (GIABA) has necessitated the implementation of Know Your Customer (KYC) and AML regulations. The primary legislation governing KYC/AML in Niger is the Anti-Money Laundering and Combating Financing of Terrorism Law No. 2016-33, enforced by various regulators including:

  • Banque centrale des États de l’Afrique de l’Ouest
  • Cellule de renseignement financier du Niger (CRF)
  • Haute Autorité de Lutte contre la Corruption et les Infractions Assimilées (HALCIA)

Data Protection Laws

Niger’s data protection laws are enforced by the National Information Technology Development Agency (NITDA) through Law No. 2017-28 of May 3, 2017. The law requires institutions to obtain users’ consent before processing and transferring personal data, with users entitled to erasure of their personal data upon request.

Compliance Solutions

To ensure compliance with these regulations, Nigeriens can use Smile ID’s user verification solution, which offers the most extensive ID coverage on the continent, with a recognition accuracy rate of 99.8% for faces of all skin tones. The solution is compatible with any device and verifies users using a range of accepted ID documents, including:

  • Passports
  • Driver’s licenses

The country’s institutions can rely on Smile ID to accurately verify user identities, preventing fraud and streamlining their verification process. With real-time results and a seamless user experience, Nigeriens can be confident in the security and integrity of their identity verification processes.

Get Started with AML Regulations in Niger

Ready to get started with AML regulations in Niger? Our team is equipped to help you level up your KYC/AML compliance stack, providing expert guidance and support every step of the way.