Financial Crime World

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GRENADA: Know Your Customer Requirements Implemented with Shufti Pro’s Real-Time Identity Verification Solution

As part of efforts to combat money laundering and terrorist financing, Grenada has implemented Know Your Customer (KYC) requirements for all businesses operating within its borders. To help financial institutions and businesses in the country comply with these regulations, Shufti Pro has introduced a real-time KYC and Anti-Money Laundering (AML) solution.

How Shufti Pro’s Solution Works

Shufti Pro’s cutting-edge identity verification system uses advanced technologies to verify the identities of customers and users in real-time. The company has integrated its services with multiple watch lists, including:

  • FATF
  • EU
  • OFAC
  • HMT
  • Interpol
  • Others

This ensures that all transactions are monitored for suspicious activity.

Benefits of Shufti Pro’s KYC and AML Solutions

Under the guidelines of the Financial Action Task Force (FATF), the Caribbean Financial Action Task Force (CFATF), and the Office of Foreign Assets Control (OFAC), Shufti Pro’s KYC and AML solutions provide businesses in Grenada with a comprehensive and efficient way to:

  • Verify customer identities
  • Detect potential fraud

Features of Shufti Pro’s Document Verification Services

Shufti Pro offers document verification services for various identification documents issued by the Government of Grenada, including:

  • National identity cards
  • Passports
  • Driving licenses
  • Credit/debit cards

The company’s advanced algorithms can detect even minor discrepancies in the formatting and authenticity of these documents.

Additional Features

Shufti Pro also offers:

  • Facial recognition technology for real-time authentication of customers
  • Address verification service to prevent false deliveries and invalid customer locations
  • Two-factor authentication (2FA) and consent verification services to ensure secure and legitimate transactions

OCR Services

In addition to its KYC and AML solutions, Shufti Pro provides OCR for the English language with an accuracy rate of 98.67%.

Global Identity Verification System

Shufti Pro’s identity verification system is truly global, working with all major industries, including:

  • Banks
  • E-commerce platforms
  • Ride-sharing services
  • Online service providers

Try Shufti Pro’s Real-Time KYC and AML Solutions Today!

Businesses in Grenada can now start their 7-day free trial to experience Shufti Pro’s real-time KYC and AML solutions for themselves. With Shufti Pro, financial institutions and businesses can ensure compliance with KYC requirements while also reducing the risk of fraud and improving customer onboarding processes.