Financial Crime World

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Portugal KYC Procedures: Ensuring Bank Security with Shufti Pro

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As financial institutions in Portugal continue to adopt digital onboarding processes, ensuring customer identity and combating money laundering threats has become a top priority.

Compliance with FATF and Portuguese Regulations

Shufti Pro’s KYC solution for Portugal is designed to comply with the guidelines of the Financial Action Task Force (FATF), as well as those of the Portuguese Securities Market Commission (CMVM) and the Portuguese Insurance Regulator (ASF). The solution verifies customer identity documents, including:

  • Citizen cards
  • Passports
  • Driving licenses
  • Credit/debit cards

Document Verification

Shufti Pro’s document verification service is designed to detect and prevent fraud by verifying the authenticity of customer documents. The service checks for:

  • Accuracy of format
  • Crumpled or folded edges
  • Photoshopped, tampered, or forged documents

Real-time KYC for Portugal

Shufti Pro offers real-time KYC solutions that enable financial institutions to onboard customers quickly and securely. The solution uses a combination of machine learning algorithms and human verification to verify customer identity and detect potential fraud.

Video KYC Services in Portugal

To further enhance security, Shufti Pro has launched its video-based KYC services in Portugal. This service allows financial institutions to conduct remote onboarding operations securely and efficiently, reducing the risk of fraudulent activities.

AML Screening for Portuguese Businesses

Shufti Pro’s AML screening service for Portuguese businesses helps identify high-risk clients and improves client onboarding with faster PEP (Politically Exposed Persons) screening and real-time sanction list monitoring. The service uses global watch-lists, including:

  • FATF
  • EU
  • OFAC
  • HMT
  • Interpol
  • Other relevant lists

Customer Due Diligence in Portugal

As a member of the Financial Action Task Force (FATF), Portugal has implemented stringent measures to combat money laundering and terrorist financing. Shufti Pro’s customer due diligence solution for Portuguese businesses helps strengthen trustful business relationships by verifying customer identity and detecting potential fraud.

Start Your Free Trial Today!

To learn more about Shufti Pro’s KYC and AML solutions for Portugal, contact us today or start your 7-day free trial to experience the benefits of our services firsthand.