Financial Crime World

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COMOROS EYES ON CUSTOMER IDENTITY VERIFICATION: KNOW YOUR CUSTOMER (KYC) RULES IN COMOROS

Introduction

As Comoros strengthens its stance against money laundering and terrorism financing, the island nation has put in place robust Know Your Customer (KYC) regulations to ensure businesses comply with international standards. Affiliated with the Financial Action Task Force (FATF), Comoros is a member of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA).

Key Regulators

  • Banque Centrale des Comores (BCC): The central bank of Comoros, responsible for implementing and enforcing KYC/AML regulations.
  • Comoros Cellule de renseignement financier (CRF): A financial intelligence unit that works with the BCC to combat money laundering and terrorism financing.

Primary Legislation

The primary legislation governing KYC/AML in Comoros is the Money Laundering (Prohibition) Ordinance No. 3-002/PR 2003.

Data Protection Regulations

La Commission Nationale de Protection des Données Personnelles Comores (CNPD) enforces Comoros’ data protection laws. Institutions are required to obtain users’ consent before processing and transferring personal data. Users are entitled to the erasure of their personal data upon request.

Compliance Requirements

To comply with these regulations, businesses must accurately authenticate and onboard users in Comoros. This can be achieved through a comprehensive identity verification solution that verifies up to 4 ID types, including:

  • National IDs
  • Resident IDs
  • Passports
  • Travel Documents
  • More

Choose Smile ID as Your Compliance Partner

Smile ID is your compliance partner for AML/KYC regulations in Comoros. Our solution empowers fast-growing businesses to stay compliant, prevent fraud, and streamline their user verification process effortlessly.

Features

  • De-biased models: Verify users with confidence, regardless of skin tone or age.
  • Image capture SDKs: Optimised for low bandwidth and compatible with all software versions from Android 5.0 upwards.
  • Global AML check: Conduct a global AML check against over 1100 global sanctions, PEPs, and adverse media watchlists.

Verify Comorian Users with Ease

Verify Comorian users and prevent fraud with confidence using our ID document verification solution. We empower businesses with the flexibility to verify user identity using any of the following ID documents:

  • Comorian National Identity Cards
  • Comorian Passport
  • Comorian Resident ID
  • Comorian Travel Documents

Conclusion

Choose Smile ID as your compliance partner for AML/KYC regulations in Comoros. Our solution is designed to help businesses comply with KYC/AML regulations and prevent fraud.

Options

  • Document Verification: With Smile ID, you can verify over 8500 documents across 220 countries globally (including Comoros) with 96% OCR accuracy.
  • Integration options:
    • Smile Links: Flexible, no-code option for creating customised user verification flows
    • SDKs: iOs, Android, Hosted Web, Flutter, REACT Native

Get Started

Ready to get started? We are equipped to help you level up your KYC/AML compliance stack. Our team is ready to understand your needs, answer questions, and set up your account.