Financial Crime World

Turkmenistan Sees Rise in Identity Theft, Financial Institutions Scramble for Solution

Growing Threat from Identity Theft

Ashgabat, Turkmenistan - The rapid growth of the digital economy has led to a significant increase in identity theft in Turkmenistan. Financial institutions are facing a mounting threat as cybercriminals exploit lax security measures to steal sensitive information and commit fraud.

Shufti Pro Steps In to Combat Identity Theft

To combat this menace, Shufti Pro, a leading provider of Know Your Customer (KYC) and Anti-Money Laundering (AML) solutions, has launched its services in Turkmenistan. The company’s advanced KYC system enables financial institutions to verify customer identities in real-time, reducing the risk of identity theft and fraud.

Shufti Pro’s Comprehensive Solution

  • Document Verification: Verify documents such as passports, ID cards, and driver’s licenses.
  • Data Extraction: Extract relevant information from documents, including names, dates of birth, and addresses.
  • Facial Recognition: Use AI-powered facial recognition to verify customer identities.
  • Address Verification: Verify customer addresses using a database of known addresses.

AML Screening Service

Shufti Pro’s AML screening service helps identify high-risk clients, improve client onboarding with faster PEP (Politically Exposed Person) screening, and monitor sanction lists in real-time. The company adheres to the global standards set by the Financial Action Task Force (FATF), ensuring that customers receive robust protection against fraud and identity theft.

Easy Integration

Financial institutions in Turkmenistan can integrate Shufti Pro’s KYC and AML solutions into their existing systems through a simple API integration. The company offers a 7-day free trial for businesses looking to test its services.

As the digital economy continues to grow, it is essential for financial institutions in Turkmenistan to prioritize identity verification and AML compliance to ensure the integrity of their operations and protect their customers’ sensitive information.