Financial Crime World

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Banks in Bahamas Get Protected from Identity Theft with Shufti Pro’s KYC Solutions

Nassau, Bahamas - January 2023

Shufti Pro, a leading identity verification solution provider, has announced its expansion to the Bahamian market with real-time Know Your Customer (KYC) and Anti-Money Laundering (AML) solutions. The move aims to protect banks in the Bahamas from identity theft and other financial crimes.

Expanding Identity Verification Solutions

Shufti Pro’s KYC services for the Bahamas cover a range of documents, including:

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

The company uses AI-powered technology to verify the authenticity of these documents, ensuring that customers are who they claim to be.

Benefits for Bahamian Banks

Shufti Pro’s KYC services for the Bahamas are designed to meet the requirements of the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF). The company’s solutions include:

Document Verification

  • Shufti Pro verifies NIB cards, passports, driving licenses, and credit/debit cards in real-time.

Data Extraction

  • The company extracts relevant information from these documents, including:
    • Name
    • Date of birth
    • Address
    • More

Face Verification

  • Shufti Pro uses facial recognition technology to verify the identity of customers.

Verification Status

  • The company provides a verification status for each customer, indicating whether their documents are genuine or not.

Anti-Money Laundering (AML) Services

Shufti Pro’s AML services for the Bahamas 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 in the provision of its AML services.

Benefits for Bahamian Banks

Banks in the Bahamas can benefit from Shufti Pro’s KYC solutions by:

  • Reducing the risk of identity theft and financial crimes
  • Improving customer onboarding process with faster and more accurate verification
  • Enhancing trustful business relationships with customers and partners

Getting Started

To start using Shufti Pro’s KYC solutions, banks in the Bahamas can sign up for a 7-day free trial.