Financial Crime World

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Mozambique Takes a Step Forward in Identity Theft Protection

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In a bid to combat identity theft and fraudulent activities, Mozambique has taken a significant step forward by introducing real-time KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions. This move is aimed at strengthening trustful business relationships between banks, financial institutions, and non-financial businesses in the country.

Shufti Pro Leads the Way in Identity Verification

Shufti Pro, a leading identity verification service provider, has launched its KYC services in Mozambique, making it possible for businesses to verify customer identities in real-time. The company’s advanced technology uses machine learning and artificial intelligence to scan and verify various documents such as ID cards, passports, driving licenses, and credit/debit cards.

Document Verification: The First Line of Defense

Shufti Pro’s document verification service checks for accuracy of format, detects crumpled or folded edges, photoshopped or tampered images, and verifies holograms and rainbow prints. This ensures that customers are who they claim to be, thereby reducing the risk of identity theft.

Multi-Faceted Identity Verification Solutions

Shufti Pro’s identity verification solutions include:

  • Facial recognition
  • Document authentication
  • Address verification
  • 2FA (two-factor authentication)
  • Consent verification
  • AML screening

These services enable businesses to onboard customers quickly and securely, while also preventing fraud and chargebacks.

AML Screening: The Key to Combating Money Laundering

Shufti Pro’s AML screening service uses global watch-lists and updates its data every 15 minutes to ensure that customers are not linked to any fraudulent activities. This helps businesses in Mozambique to identify high-risk clients, improve client onboarding, and reduce the risk of money laundering.

Mozambique Joins the Global Fight Against Money Laundering

As a member of ESAAMLG (Eastern and Southern Africa Anti-Money Laundering Group) and FATF (Financial Action Task Force), Mozambique is committed to combating money laundering, terrorist funding, and other threats to the integrity of its financial system. Shufti Pro’s AML services are designed to meet these global standards, ensuring that businesses in Mozambique are compliant with international regulations.

Start Your 7-Day Free Trial Now

To learn more about Shufti Pro’s identity verification solutions and how they can help your business, start a 7-day free trial today.