Faroe Islands Sees Breakthrough in Fraud Detection Methods: Shufti Pro Leads the Charge
The Faroe Islands, a self-governing region within the Kingdom of Denmark, has taken a significant step forward in combating fraud and financial crimes with the introduction of advanced identity verification solutions by Shufti Pro.
Advanced Identity Verification Solutions for the Faroe Islands
Shufti Pro’s cutting-edge technology enables real-time KYC (Know Your Customer) checks for businesses operating in the islands, providing an added layer of security against fraudulent activities. The company’s state-of-the-art system verifies various types of documents, including passports, driving licenses, and credit/debit cards.
Meeting Regulatory Requirements
Shufti Pro’s KYC services for the Faroe Islands are designed to meet the stringent guidelines set forth by FATF (Financial Action Task Force) and OFAC (Office of Foreign Assets Control). This ensures that businesses operating in the islands remain compliant with regulatory requirements.
Fraud Detection Methods
Shufti Pro’s fraud detection methods employ advanced algorithms and machine learning techniques to identify potential threats. The company’s system can detect tampered or forged documents, as well as photoshopped images, with remarkable accuracy.
Services Offered
The company’s services are designed to cater to various industries, including:
- E-commerce
- E-payments
- Ride-sharing
- Online service providers
Shufti Pro’s AML (Anti-Money Laundering) solutions for Faroese businesses aim to identify high-risk clients and improve client onboarding by screening customers against global watch lists.
Additional Features
In addition to its document verification services, Shufti Pro offers:
- Facial recognition technology
- Address verification
- 2FA authentication
- Consent verification
- Real-time sanction list monitoring
- OCR (Optical Character Recognition) technology for extracting characters from Danish and Faroese languages with an accuracy rate of 98.67%
User-Friendly Solutions
Shufti Pro’s solutions are designed to be user-friendly and easy to integrate into existing systems. The company offers a free trial period, allowing businesses to test its services before committing to a subscription.
Goal: A Secure Environment for Businesses
“With Shufti Pro’s advanced identity verification solutions, we aim to create a secure and trustworthy environment for businesses operating in the Faroe Islands,” said another spokesperson. “Our goal is to help prevent financial crimes and ensure compliance with regulatory requirements.”
For more information about Shufti Pro’s services and how they can benefit your business, please visit their website or contact their customer support team.