Financial Crime World

Comoros Businesses Get Instant AML Compliance with Smile ID’s Cutting-Edge Solution

Regulatory Landscape

As a member of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), Comoros has implemented robust Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations to combat financial crimes. In response, Smile ID has developed a comprehensive identity verification solution that empowers businesses to achieve seamless compliance with these regulations.

The primary legislation governing AML/KYC in Comoros is the Money Laundering (Prohibition) Ordinance No. 3-002/PR 2003. Regulatory bodies enforcing these regulations include:

  • Banque Centrale des Comores (BCC): The central bank of Comoros responsible for implementing and enforcing AML/KYC regulations.
  • Comoros Cellule de renseignement financier (CRF): The Financial Intelligence Unit (FIU) responsible for receiving, analyzing, and disseminating financial intelligence to combat money laundering.

Data Protection Regulations

Comoros has implemented data protection laws, which are enforced by the Commission Nationale de Protection des Données Personnelles Comores (CNPD). Businesses in Comoros must obtain users’ consent before processing and transferring personal data. Users have the right to request the erasure of their personal data.

Smile ID’s Comprehensive Solution

To help businesses comply with these regulations, Smile ID offers a cutting-edge identity verification solution that verifies up to 4 Comorian ID types:

  • National IDs
  • Resident IDs
  • Passports
  • Travel Documents

Our de-biased models ensure a 99.8% accuracy rate for all African skin tones.

Key Features

Here are the key features of Smile ID’s identity verification solution:

  • Verify Comorian users and prevent fraud with confidence
  • Utilise our image capture SDKs optimised for low bandwidth and compatible with all software versions from Android 5.0 upwards
  • Conduct a global AML check against over 1100 global sanctions, PEPs, and adverse media watchlists
  • Our enterprise-level security standard with ISO 27001, and SOC 2 Type 1 & 2 certifications ensures the highest level of data protection and compliance

Streamline User Verification

Smile ID’s solution enables businesses to verify users in Comoros quickly and efficiently. Our image capture tools guide users to take clear photos even with older devices. The “smile for a selfie” feature ensures that the real user is behind the camera.

Get Started Today

Ready to get started? Smile ID’s team is equipped to help you level up your KYC/AML compliance stack. We offer flexible integration options, including API and no-code solutions, to ensure seamless integration with your existing infrastructure. Contact us today to set up your account and start verifying users in Comoros with confidence.