Elevate AML Compliance in ALGERIA

ALGERIA SET TO EMBRACE REGULATORY TECHNOLOGY FOR COMPLIANCE

==============================

Algeria has been an active member of the Middle East and North Africa Financial Action Task Force (MENAFATF), a key player in the fight against money laundering and terrorism financing. With its robust identity verification solution, Smile ID is poised to help businesses in Algeria effortlessly achieve AML and KYC compliance.

Regulatory Landscape

Algeria’s financial intelligence unit, the Financial Intelligence Processing Unit (CTRF), works closely with the Bank of Algeria (Banque d’Algérie) to enforce the country’s primary KYC/AML regulation: the Law on the Prevention and Fight against Money Laundering and Financing of Terrorism.

Data Protection

While Algeria does not have an active data protection authority, businesses are advised to adhere to global data processing standards to avoid regulatory challenges. The country’s data rights are protected by Law No. 18-07 of 25 Ramadhan 1439 Relating to the Protection of Individuals in the Processing of Personal Data.

Verification in Algeria

Smile ID offers a comprehensive identity verification solution for Algerian users, allowing businesses to onboard customers seamlessly and maintain compliance. The platform can verify up to six types of Algerian IDs, including:

National IDs
Driver’s licenses
Passports

with an accuracy rate of 99.8% for all African skin tones.

Enterprise-Level Security

Smile ID’s enterprise-level security standards, including ISO 27001 and SOC 2 Type 1 & 2 certifications, ensure the highest level of data protection and compliance. The platform also offers a global AML check against over 1,100 sanctions, PEPs, and adverse media watchlists.

Get Started with Smile ID

Ready to elevate your KYC/AML compliance stack? Smile ID’s team is ready to help you understand your needs, answer questions, and set up your account. With our flexible integration options and comprehensive identity verification solution, you can onboard customers efficiently and maintain regulatory compliance in Algeria.