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Know Your Customer Policy in Kyrgyzstan: A Game-Changer for Businesses
The government of Kyrgyzstan has introduced a Know Your Customer (KYC) policy to combat financial crimes and ensure transparency in the country’s financial sector. This new policy has been welcomed by business leaders as it provides a robust framework for preventing money laundering and terrorist financing.
What is KYC Policy?
Under the KYC policy, businesses operating in Kyrgyzstan are required to collect and verify identification documents such as identity cards, passports, driving licenses, and credit/debit cards from their customers. The verification process involves checking the accuracy of the format, detecting crumpled or folded edges, photoshopped or tampered images, and verifying holograms and rainbow prints.
Shufti Pro’s KYC Solution for Kyrgyzstan
To facilitate this process, Shufti Pro, a leading provider of real-time KYC solutions, has launched its services in Kyrgyzstan. With its advanced identity verification system, businesses can verify their customers’ identities quickly and accurately, reducing the risk of fraud and money laundering.
Key Features of Shufti Pro’s KYC Solution:
- Easy to use and integrate with existing systems
- Range of documents used for verification, including ID cards, passports, driving licenses, and credit/debit cards
- Highly accurate identity verification system with a success rate of 98.67%
- Advanced features such as:
- Facial recognition
- Document authentication
- Address verification
- Two-factor authentication
- Consent verification
AML Screening for Kyrgyzstan
In addition to its KYC services, Shufti Pro also provides Anti-Money Laundering (AML) screening for businesses operating in Kyrgyzstan. The company’s AML solution uses a range of global watch lists and is updated every 15 minutes to ensure that businesses remain compliant with the latest regulations.
Impact on Financial Sector
The introduction of the KYC policy in Kyrgyzstan is expected to have a significant impact on the country’s financial sector, providing a robust framework for preventing financial crimes and ensuring transparency. Businesses operating in the country are encouraged to take advantage of Shufti Pro’s real-time KYC solutions to ensure compliance with the new policy and protect their customers from identity theft.
Learn More About Shufti Pro’s KYC Services
To learn more about Shufti Pro’s KYC services in Kyrgyzstan, please visit our website or contact us today.