Shufti Pro: Your Partner in Identity Verification and Compliance
As a leading provider of identity verification solutions, Shufti Pro is committed to helping businesses like yours navigate the complex landscape of anti-money laundering (AML) and know-your-customer (KYC) regulations. In this article, we will explore the key requirements for identity verification in Albania, as outlined by the Albanian laws and regulations.
Real-Time Video Transmission
Shufti Pro’s cutting-edge technology enables real-time video transmission, allowing our experts to verify an individual’s identity through a live, interactive session. During this process, the end-user is asked to show their identification documents and perform random gestures as part of a liveness check.
Document Verification
In addition to verifying an individual’s identity through video transmission, Shufti Pro also verifies the authenticity of submitted documents. Our specialized document verification service performs checks on security features such as:
- Holograms
- Tapered/crumpled edges
- Doctored elements
- Form inconsistencies
- Document expiration
- MRZ (Machine Readable Zone)
- Reflected colors
- Microprinting
Commercial Register Extraction
When verifying the identity of legal persons or partnerships, Shufti Pro extracts information from the commercial register or a comparable official register through our KYB (Know-Your-Business) process.
Required Documents for Verification in Albania
The following documents are considered proof of identity:
- ID card
- Driving license
- Passport
For address verification, the following documents are accepted:
- Utility bills (no older than three months)
- Bank statement (no older than three months)
Timing of Verification
Identity verification is not a one-time process. It may be required in multiple instances as per regulations. The timing and frequency of verification depend on your specific requirements and circumstances.
Politically Exposed Persons (PEPs) and Enhanced Due Diligence Measures
As part of our AML screening service, Shufti Pro provides you with information on:
- PEPs
- Public office holders
- Compromised individuals
- Sanctioned entities
Our service highlights the category of the PEP based on the degree of risk they pose and also identifies immediate family members or close associates.
Reliance on External Services
Albania’s regulations allow businesses to seek the services of a third-party provider for due diligence measures. As Shufti Pro, we offer our services as an external third-party provider. However, it is essential to note that you, as the business owner, remain liable for maintaining all compliance and fulfilling AML and KYC obligations.
Record Retention
It is crucial to retain data for at least five years, as per Albanian laws and regulations. This includes due diligence information collected from third-party providers.
Conclusion
Shufti Pro is committed to helping businesses navigate the complex landscape of identity verification and compliance in Albania. Our cutting-edge technology and expertise enable us to provide accurate and reliable results, ensuring your business remains compliant with AML and KYC regulations. Contact us today to learn more about our services and how we can support your business.