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Credit Card Fraud Prevention in Faroe Islands: A Must-Have for Businesses

In today’s digital age, online transactions are becoming increasingly popular in the Faroe Islands. With this growth comes a higher risk of credit card fraud, which can be devastating for businesses. To combat this issue, Shufti Pro offers real-time KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions specifically designed for the Faroe Islands.

Fastest Online Identity Verification Service

Shufti Pro’s cutting-edge technology allows for swift and secure identity verification, ensuring that businesses can onboard new customers quickly and efficiently. The company verifies passports, driving licenses, and credit/debit cards to prevent fraud and ensure compliance with regulatory requirements.

KYC and AML Solutions

Under the guidelines of FATF (Financial Action Task Force) and OFAC (Office of Foreign Assets Control), Shufti Pro provides comprehensive KYC and AML solutions for Faroese banks and businesses. The company’s technology detects fake documents, verifies holograms, and checks for accuracy of format to ensure that customer identities are genuine.

Document Verification

Shufti Pro offers document verification services for passports, driving licenses, and credit/debit cards. The company’s technology matches name, date of birth, and expiration dates with MRZ (Machine Readable Zone) data, detects crumpled or folded edges, and verifies holograms to ensure that documents are genuine.

Credit/Debit Card Verification

Shufti Pro’s credit/debit card verification service validates card numbers, expiration dates, and issue dates. The company’s technology checks for accuracy of format, detects photoshopped or tampered cards, and verifies holograms to prevent fraud.

How Shufti Pro Works

Shufti Pro’s identity system works by combining six distinct ID verification services: document verification, data extraction, face verification, verification status, facial recognition, and address verification. The company’s technology is designed to make the digitization process frictionless and risk-free for businesses in the Faroe Islands.

Automated AML for 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 to provide its AML services.

Customer Due Diligence in the Faroe Islands

The Faroe Islands is a state governed by Denmark, a member of FATF. Shufti Pro has expanded its operations to provide KYC and AML solutions for Faroese banks, financial and non-financial businesses to strengthen trustful business relationships.

Start Your 7-Day Free Trial Today!

Don’t wait until it’s too late – protect your business from credit card fraud and ensure compliance with regulatory requirements. Try Shufti Pro’s real-time KYC and AML solutions today and start your 7-day free trial now!