Financial Crime World

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Burkina Faso Banks Boost Identity Theft Protection with Smile ID

In a bid to enhance customer security and stay compliant with regulations, banks in Burkina Faso are turning to Smile ID’s instant Anti-Money Laundering (AML) and Know-Your-Customer (KYC) compliance solution. The platform offers robust identity verification tools that enable swift authentication of customers’ identities, streamlining onboarding processes while meeting international standards required by regulatory bodies.

Compliance with AML/KYC Regulations

As a member state of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), Burkina Faso has implemented KYC/AML regulations aligned with global standards. The primary legislation governing these regulations is the Directive relating to the fight against the financing of terrorism in the member states of the West African Economic and Monetary Union (UEMOA).

Requirements for AML/KYC Compliance

  • Align with international standards required by regulatory bodies
  • Implement robust identity verification tools
  • Streamline onboarding processes while meeting regulatory requirements

Data Protection Laws

The Commission de l’Informatique et des Libertés (‘CIL’) enforces Burkina Faso’s data protection laws, requiring institutions to obtain users’ consent before processing and transferring personal data. Users are entitled to erasure of their personal data upon request.

Key Requirements for Data Protection

  • Obtain user consent before processing and transferring personal data
  • Allow users to request erasure of their personal data

Smile ID: The Trusted Compliance Partner

Smile ID equips businesses with the necessary tools to ensure comprehensive AML/KYC compliance in Burkina Faso. Our platform:

  • Validates up to 7 types of IDs, including Burkinabé National ID, Driver’s Licence, Passport, Voter ID, and more.
  • Utilizes de-biased models with 99.8% accuracy for all African skin tones.
  • Implements image capture SDKs optimized for low bandwidth and compatible with software versions as low as Android 5.0.
  • Conducts global AML checks against over 1100 global sanctions, PEPs, and adverse media watchlists.

Instant Verification of ID Documents

Smile ID’s platform empowers businesses to verify user identity using any of the following ID documents:

  • Burkina Faso National Identity Card
  • Burkina Faso Driver License
  • Burkina Faso Occupation Card
  • Burkina Faso Passport

Our image capture tools guide users to take clear photos, even with older devices. We also ensure enterprise-level security with ISO 27001, SOC 2 Type 1 & 2 certifications.

Benefits of Smile ID’s Platform

  • Validates user identity using various types of IDs
  • Utilizes de-biased models for accurate results
  • Implements image capture SDKs optimized for low bandwidth
  • Conducts global AML checks against over 1100 watchlists

Ready to Get Started?

Smile ID is equipped to help you level up your KYC/AML compliance stack. Our team is ready to understand your needs, answer questions, and set up your account. Choose Smile ID as your trusted compliance partner for AML/KYC regulations in Burkina Faso today!