Financial Crime World

Interactive Live Video Session for Identity Verification

Shufti Pro has revolutionized the identity verification process by introducing an interactive live video session between Identification Experts and end-users. This cutting-edge technology aims to enhance the security and accuracy of identity verification processes.

How it Works

During the interactive session, end-users will be asked to:

  • Show their identity documents
  • Perform random gestures as part of a liveness check
  • Authenticate submitted documents by checking for security features such as:
    • Holograms
    • Tapered/crumpled edges
    • Doctored elements
    • Form inconsistencies
    • Document expiration
    • MRZ (Machine Readable Zone)
    • Reflected colors
    • Microprinting

Documents Required for Verification

In Armenia, the following documents are considered proof of identity:

  • Driving license
  • Passport

For address verification, accepted documents include:

  • Current utility bills
  • Bank statements
  • Government-issued documents showing the end-user’s address

Timing of Verification

Identity verification is not a one-time process and requires multiple instances as per regulations. The application and timing of when to deploy Identity Verification procedures depend on client requirements and conveyance to Shufti Pro.

Politically Exposed Persons (PEPs) and Enhanced Due Diligence Measures

As per Armenian regulations, clients are required to determine if their customers are PEPs or exhibit a higher risk profile. To fulfill these obligations, Shufti Pro provides its AML Screening service, which screens ID attributes against:

  • Watchlists of global regulatory authorities
  • Foreign and domestic databases
  • Compromised PEPs
  • Sanctioned individuals

Reliance on External Services

In the absence of explicit regulations, clients may seek services from third-party providers for fulfilling AML/KYC obligations. However, it is crucial to note that:

  • Clients will remain liable for maintaining regulatory compliance and fulfilling AML and KYC obligations
  • Even if relying on external services

Record Retention

As per Armenian regulations, data must be retained for at least five years as part of AML and KYC obligations. Clients are liable to collect all necessary information (Due Diligence Data) from third-party providers without undue delay.

Stay ahead in the game with Shufti Pro’s innovative identity verification solutions!