Financial Crime World

NAURU BANKS FIGHT AGAINST IDENTITY THEFT WITH SHUFTI PRO’S REAL-TIME KYC SOLUTION

Nauru’s Banking Sector Leverages Advanced Technology to Combat Identity Theft and Fraud

The banking sector in Nauru is taking a proactive approach to tackle identity theft and fraud with the help of Shufti Pro, a leading provider of real-time Know Your Customer (KYC) solutions. Shufti Pro’s advanced technology enables Nauruan banks to verify customer identities in seconds, ensuring a secure and trustworthy financial environment.

Meeting International Guidelines

Shufti Pro’s KYC solution for Nauru is designed to meet the guidelines set by the Financial Action Task Force (FATF), Anti-Money Laundering Group (APG), and the Office of Foreign Assets Control (OFAC). The system verifies customer identities using a range of documents, including:

  • Passports
  • Driving licenses
  • Credit/debit cards

Advanced Technology Features

Shufti Pro’s advanced technology uses Optical Character Recognition (OCR) to extract characters from Nauruan language documents with an accuracy rate of 98.67%. Additionally, the company offers:

  • Face verification
  • Address verification
  • Two-factor authentication
  • Consent verification
  • Anti-money laundering (AML) screening services

Real-Time KYC Solution Benefits

The real-time KYC solution has been a game-changer for Nauru’s banks, according to a spokesperson from one of the leading banks. With Shufti Pro, banks can:

  • Verify customer identities in seconds
  • Reduce the risk of identity theft and fraud

AML Services for Nauruan Businesses

Shufti Pro’s AML services help identify high-risk clients, improve client onboarding with faster PEP screening, and real-time sanction list monitoring. The company uses FATF, EU, OFAC, HMT, Interpol, and other relevant watch lists in the provision of its AML services.

Benefits for Businesses

Shufti Pro’s KYC solution is designed to help businesses:

  • Digitize their operations
  • Reduce manual labor
  • Prevent fraud and charge-backs
  • Increase conversions

7-Day Free Trial

For businesses looking to implement Shufti Pro’s real-time KYC solution, the company offers a 7-day free trial.

CEO’s Statement

“We are committed to helping Nauru’s banking sector fight against identity theft and fraud. Our real-time KYC solution is designed to provide a secure and trustworthy financial environment for businesses and customers alike,” said Shufti Pro’s CEO in a statement.