Financial Crime World

Sudan Takes a Leap Forward in Anti-Money Laundering Efforts

In a significant move towards combating financial crime, Sudan has implemented Know Your Customer (KYC) regulations in line with international standards. As a member state of the Middle East and North Africa Financial Action Task Force (MENAFAFT), Sudan is committed to ensuring that its financial institutions are equipped to prevent money laundering and terrorist financing.

Regulatory Overview

The Anti-Money Laundering and the Financing of Terrorism Act 2010 is the primary legislation governing KYC/AML regulations in Sudan. The Central Bank of Sudan (CBOS) and the Sudan Financial Intelligence Unit (NFIU) are responsible for enforcing these regulations, which require financial institutions to implement robust customer due diligence procedures.

Key Regulations

  • Know Your Customer (KYC): Financial institutions must verify customers’ identities through a combination of documents and information.
  • Anti-Money Laundering (AML): Institutions must monitor transactions for suspicious activity and report any potential money laundering or terrorist financing.
  • Customer Due Diligence: Institutions must perform ongoing customer due diligence to ensure that customers continue to meet KYC/AML requirements.

Data Protection Regulations

In addition to KYC/AML regulations, Sudan has implemented data protection laws that safeguard citizens’ right to privacy. Articles 22 & 32 of the Sudan Constitution protect individuals from unauthorized processing and transfer of their personal data. Financial institutions are required to obtain users’ consent before processing and transferring personal data.

Key Data Protection Principles

  • Consent: Institutions must obtain explicit consent from customers before collecting, storing, or sharing their personal data.
  • Data Minimization: Institutions should only collect and process the minimum amount of personal data necessary to meet KYC/AML requirements.
  • Secure Storage: Institutions must store customer data securely and protect it against unauthorized access.

Streamlining User Verification in Sudan

To stay compliant with these regulations, financial institutions in Sudan can leverage Smile ID’s cutting-edge user verification solution. With a 99.8% recognition accuracy rate for faces of all skin tones, Smile ID ensures that customers are accurately verified, preventing potential fraud and enhancing the overall customer experience.

Key Benefits

  • High Accuracy: Smile ID’s advanced algorithms ensure accurate user verification, reducing the risk of false positives or negatives.
  • User Convenience: Smile ID’s intuitive interface guides users through a seamless verification process, minimizing friction and improving customer satisfaction.
  • Compliance: Smile ID is designed to meet Sudan’s KYC/AML regulations, ensuring that financial institutions stay compliant and avoid costly fines.

Document Verification

Smile ID supports various ID documents commonly used in Sudan, including:

Supported Documents

  • National ID card: Issued by the Department of Civil Registry - Ministry of Interior
  • Voters’ ID: Issued by the electoral commission
  • Passport: Issued by the General Directorate of Passports and Immigration
  • Driver’s license: Issued by the Department of Motor Traffic – Ministry of Transport

How Smile ID Works

Smile ID’s image capture tool guides users to take clear photos, even with older devices. A selfie is then taken, and the solution transcribes document text with 96% accuracy, checks for accurate format, identifies tampered and forged documents, and verifies security features.

Key Features

  • Image Capture: Smile ID’s intuitive interface guides users through a seamless image capture process.
  • Document Analysis: Smile ID’s advanced algorithms analyze documents to ensure they are authentic and not tampered with.
  • Security Features: Smile ID verifies the presence of security features, such as holograms or watermarks.

Getting Started

To level up your KYC/AML compliance stack, our team is ready to understand your needs, answer questions, and set up your account.