Title: Suriname’s AML-KYC Regulations: A Comprehensive Guide to Identity Verification

Background

The Central Bank of Suriname introduced its Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) regulations to criminalize money laundering and establish appropriate safeguards. This guide focuses on Suriname’s AML-KYC regulations in the context of Identity Verification requirements.

Definitions

Client: Shufti Pro’s customer, also referred to as the “You” in this guide
Customer: Client’s customer subjected to KYC-AML checks
End-user: Client’s customer from Shufti Pro’s perspective
Document Verification: Verifying the authenticity of government-issued identity documents
Identity Verification: Verifying the identity of the client’s customers
Proof of Identity: Any government-issued identity document that identifies a natural person
Enhanced Due Diligence (EDD): Greater scrutiny of potential business relationships
Third-party Diligence: Outsourcing due diligence to external parties
Politically Exposed Person (PEP): Individuals with a higher risk for bribery/corruption
Due Diligence: Measures taken to mitigate risks before entering transactions

Identity Verification and Suriname Regulations

This document outlines the provisions of Suriname’s AML-KYC regulations regarding customer screening, identification, and verification of customers. The following sections detail the Identity Verification requirements according to these regulations.

Identity Verification: Process and Compliance

Required Identity Attributes

To identify a natural person using official documents, the following attributes are required:

Name
Address
Telephone Number
Date of Birth
Nationality

Compliant CDD Methods

Shufti Pro follows the Identity Verification methods detailed below to ensure a compliant verification process. Upon Client request, Shufti Pro employs the following methods:

Document Verification

Shufti Pro uses independent sourced documents for End-user verification if they do not present themselves in person. Photo-based biometric identification documents are acceptable for Identity Verification.

Real-time Audio-Video Transmission

Shufti Pro performs live, interactive video sessions between an Identification Expert and the End-user. During the sessions, they show identity documents and perform random gestures for a liveness check.

Document Authentication

Shufti Pro verifies the authenticity of submitted documents using specialized Document Verification services, including security features, expiration dates, and document integrity tests.

Accepted Documents in Suriname

Identity Verification

The following documents are acceptable for Suriname’s Identity Verification requirements:

Identity card
Passport
Driving license
Any other document valid in the country of origin and which meets the statutory requirements of that country

Address Verification

The following documents are acceptable for Address Verification:

Current utility bills (gas, electricity, telephone, or mobile phone bills, issued no more than three months ago)
Bank statement (issued no more than three monthsago)
Document issued by a government department that displays the End-user’s address and name

Timing of Verification

Identity Verification can be performed multiple times depending on the requirements and timing. Clients should deploy Identity Verification procedures upon customer onboarding, based on monetary thresholds and higher risks.

Politically Exposed Persons (PEPs) and EDD Measures

Enhanced Due Diligence (EDD) requirements under Suriname regulations necessitate determination of whether the Customer is a PEP, holds public office, or exhibits a higher risk profile. Shufti Pro’s AML Screening service can help fulfill these obligations by screening individuals’ Selected ID attributes against global regulatory authorities, foreign and domestic databases, and compromised PEPs and sanctioned individuals.

Reliance on External Services and Record Retention

Suriname’s regulations allow clients to seek third-party services to apply due diligence measures. Clients are responsible for collecting all necessary data from third-party providers without undue delay. In this scenario, Shufti Pro acts as an external third-party service provider.

Record Retention

According to Suriname’s AML and KYC obligations, clients must retain relevant data for a minimum of seven (7) years. In the event that information is processed, collected, and managed by a third-party, clients are responsible for collecting all necessary Due Diligence Data from the third-party without undue delay.

Conclusion

In conclusion, Shufti Pro plays a crucial role in ensuring compliance with Suriname’s AML-KYC regulations. Our Identity Verification methods, accepted documents, and due diligence measures adhere to the requirements. Clients remain responsible for maintaining compliance and fulfilling AML and KYC obligations, regardless of their reliance on third-party services.