Financial Crime World

Palau Embraces KYC Compliance with Shufti Pro’s Real-Time Identity Verification Solution

The small island nation of Palau is now joining the global movement towards more stringent Know Your Customer (KYC) regulations, thanks to the introduction of Shufti Pro’s real-time identity verification solution. As part of its efforts to combat money laundering and terrorist financing, Palau has aligned itself with the Financial Action Task Force (FATF), APG, and OFAC guidelines.

Comprehensive KYC and AML Solutions for Palau

With Shufti Pro’s cutting-edge technology, businesses in Palau can now efficiently verify customer identities and onboard new users in seconds. The platform offers a range of services, including:

Passport Verification

  • Checks the authenticity of Palauan passports issued by the Passports Office
  • Verifies nationality, name, and date of birth

Driving License Verification

  • Checks the originality of driving licenses issued by the Bureau of Public Safety
  • Covers all 16 states of Palau

Credit/Debit Card Verification

  • Validates credit/debit cards to prevent fraud, chargebacks, and reduce drop-offs

How Shufti Pro’s Identity System Works

The platform employs a robust identity system that includes:

  1. Document Verification: Checks the authenticity of documents using advanced algorithms
  2. Data Extraction: Extracts relevant information from documents, including name, date of birth, and address
  3. Face Verification: Uses next-generation facial recognition technology for secure authentication
  4. Verification Status: Provides real-time verification status updates

Advanced KYC and AML Solutions for Palau

Shufti Pro’s solution helps businesses in Palau digitize their processes, reducing friction and risk associated with online transactions. With a combination of six distinct ID Verification Services, the platform ensures that customer onboarding is seamless and secure.

Start Your 7 Days Free Trial Now!

Don’t miss this opportunity to strengthen trustful business relationships and stay ahead of regulatory requirements. Sign up for Shufti Pro’s 7-day free trial today and experience the power of real-time identity verification.

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