Russian Government to Take Regulatory Steps to Harmonize Crypto Market.

Prime Minister of Russian has suggested that crypto should be recognized through the nation’s tax code. Mikhail Mishustin, the prime minister, has also expressed his support to the development of the cryptocurrency market in Russia.  

On a governmental level meeting that was held recently, the prime minister has recommended that legal protections must be introduced for the crypto holders. This is necessary for the growth of the crypto industry. 

Mishustin states that such a work could help to develop the industry in a more harmonized way and the rights of the owners and their interests can also be protected and the fraudulent schemes will be prevented. 

Mishustin also recommended improving the Russian Tax Code so that the digital currency can be recognized as a property of value. 

“Let’s make a number of changes to the Tax Code so digital financial assets can be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions, as well as to defend their property rights in court.”

After replacing the previous prime minister, Dmitry Medvedev in the 2020 election held in January, Mishustin has now urged the country to focus on the development of the crypto economy. The Russian government also looking to introduce the prison sentence to those failing to report the crypto transections of around $600,000 annually. 

Some financial institutions in Russia are racing to launch crypto and services related to blockchain abroad. 


Shufti Pro’s Identity Verification to be Used by Baaz. Inc. for Secure Customer Onboarding

London, (October 2020), Baaz Inc. – a social media platform specially designed to bring the Arab community together- has partnered with Shufti Pro for robust identity verification of its users and to keep all the users safe from cybercrimes. The enterprise will benefit from Shufti Pro’s KYC – identity verification solution.

Baaz Inc. is a social media platform created by Arabs for the Arab world with a global appeal. It aspires to create a safe and real-time environment for users. It also aims to reflect the Arabic culture through its fun and energetic platform. With powerful analytics, advanced language processing technology, and trend analysis, Baaz Inc., is dedicated to providing relevant and credible Arabic content to all users across the globe.

Shufti Pro uses a hybrid technology of human and artificial intelligence to assist businesses in verifying all the users during the onboarding process. There are more than 900 AI algorithms that Shufti Pro deploys for effective results. It delivers all that a diverse platform such as Baaz would require. It can verify anyone from all over the world within seconds using advanced AI and human intelligence, which complements the technically advanced and appealing social media platform – Baaz.

The web is floating with millions of users’ data, and there’s an obvious need to tighten up the security on social media to combat hackers and protect users’ security. Placing safety at the heart of its practices, Baaz partnered with Shufti Pro to provide a fast, easy, accurate, and robust identity verification process to its users.

Baaz Inc. will provide its users with the easiest and fastest verification process requiring only basic sign up information including name, ID, date of birth, and country.

Hamda Khochtali, CEO of Baaz Inc. confident about this partnership, said:

“It’s no secret that social media platforms have been an integral part of our daily lives. Unfortunately, most of these platforms come with fake accounts that bring inaccurate and false information. At Baaz, we believe it’s our responsibility to create a fun yet safe and healthy environment for our Arab world. Baaz will be the very first social media platform that provides users with an identity verification process. Thanks to our partnership with Shufti Pro, we’ll be able to offer users an ideal identity verification system, Arabic text extraction, and technology that guarantees privacy through GDPR and CCPA compliance.”

Victor Fredung, CEO of Shufti Pro, excited to partner with Baaz Inc., said:

“Shufti Pro is proud to partner with Baaz Inc. and aim to maintain this relationship in the long-run. Baaz is dedicated to providing a social platform to the Arab and we will secure their platform from imposters, account takeover fraud, and identity theft with our state of the art identity verification services. It has always been a remarkable experience to partner with diverse businesses like Baaz and depicts our adaptability for different sectors.”

About Baaz Inc.

Baaz Inc. is a social media platform specially created in the Arab world for the Arab world with a global appeal. It provides culturally relevant content and creates a safe and real environment for its users, reflecting the Arabic culture through its fun and energetic platform. It provides users with a safe space for sharing authentic information through its easy verification process that is secure, and in compliance with GDPR and CCPA.

About Shufti Pro

Shufti Pro is an identity verification service providing KYC and AML verification to its clients worldwide. It deploys 900 AI algorithms for all its services and a synergetic relationship between human intelligence and artificial intelligence, Shufti Pro eliminates the chances of errors and provides results within 30 – 60 seconds with 98.67 per cent accuracy. Do you require verification services for your customer base too?

Contact to get on board!


Shufti Pro Partners with Azure Marketplace for Safer Business Operations

London, UK- Online identity verification service provider Shufti Pro partners with Microsoft Azure Marketplace. 

Shufti Pro, one of the youngest in the market is not coming slow. Over a period of 3 years, Shufti Pro has shown tremendous growth in the identity verification industry and has shown its competitors a real challenge. Many customers in various industries have reached out to Shufti Pro due to consistent growth. 

In order to cater to the needs of these customers, Shufti Pro has now joined hands with Azure Marketplace. Which means you can now easily avail and use the ultimate services that are offered by Shufti Pro. These swift services are now available on Azure Market Place as Shufti Pro. Azure is the biggest name for the online marketplace especially for products like software as a service. With the help of this reliable platform, Azure Marketplace, businesses and organizations can now easily engage with Shufti Pro. 

“We at Shufti Pro are committed to providing artificially intelligent solutions for identity verification. By joining hands with Azure Marketplace, Shufti Pro can now help various organizations to be more secure and fraud-free. Azure Marketplace can be a huge advantage to us and our customers”- Victor Fredung CEO Shufti Pro

In this grave time of the Covid-19 pandemic, Shufti Pro played its role in helping the world by making it impossible for fraudsters and identity theft to take advantage of the growth in online businesses. Keeping the economic fragility in view, Shufti Pro provided 10 million free verifications. 

In this little time, Shufti Pro has managed to gain the trust of the customers and the regulatory bodies. Shufti Pro won the Global Business Excellence award in 2020 on the basis of excellent customer dealings. Shufti Pro also won Meftech competition in 2020 for their demo of Video KYC.  These are just some minor examples of how Shufti Pro is fulfilling its promises with an exceptional customer experience and extraordinary services. 

About Shufti Pro  

Shufti Pro is equipped with state-of-the-art verification tech, a fully customizable operation system, expert human verification, enables Shufti Pro to bridge the security gap your company faces. Shufti Pro’s services are available globally in more than 230 countries. It can scan over 3000 documents and can verify identity documents in 150 languages within 15-60 seconds only. Shufti Pro provides high accuracy of 98.67% so that the businesses are protected from scams and frauds. It is compliant with GDPR and the Payment Card Industry Data Security Standard (PCI DSS). Shufti Pro is cost-effective and reliable, it provides services for as low as $0.20, and the “Pay as you go”  plan allows the customer to design a plan convenient to their needs. 

Connect with Shufti Pro on Azure Marketplace by clicking on this link:


Shufti Pro Enhances its intelligent OCR Services for Seamless Data Entry Operations

London UK- Shufti Pro, an identity verification service provider uses its advanced artificial intelligence to enhance it’s intelligent OCR services. 

Originally, Optical Character Recognition is a data extraction technology that is designed to extract black text on a white background in a specific language. It is used to assist businesses in their data entry operations. However, the initial OCR engines are not as accurate and require human interference. Enterprises are expanding in the midst of the digital revolution and the demand for a more accurate data entry solution has become an utmost priority. 

Shufti Pro has introduced its enhanced OCR technology combined with artificial intelligence that operates with machine learning and natural language processing (NPL). Shufti Pro’s OCR engine, unlike the usual one, not only detects but also recognizes the text in multiple languages. Shufti Pro’s OCR engine can extract text in 150+ languages. Computer vision combined with a language processing algorithm provides a far more accurate result of data extraction that corrects the errors without any manual supervision. With the help of pre-processing and post-processing techniques, Shufti Pro’s OCR engine can deeply comprehend the text and verify its accuracy. Artificially intelligent OCR can understand the type of the document, its format, context, and all the other details of a document and the data within it. 

Shufti Pro has always been committed to securing the marketplace with its services. Their research and development team has always strived to cater to the need of businesses with their enhanced digital solutions. With their identity verification services, many industries including financial institutions and e-commerce platforms have become safer than ever. Now with Shufti Pro’s enhanced OCR technology, businesses no longer have to spend hours and millions on a long and tedious task of data entry. They can now progress seamlessly by taking advantage of Shufti Pro’s enhanced global OCR services that provide an unmatched accuracy rate of 90+ percent. 

“We at Shufti Pro are always aiming to provide enhanced services. Our team of experts works tirelessly to provide a service that can benefit your business and meet all your requirements. By enhancing our intelligent OCR service, we are prepared to serve all your businesses’ needs. Businesses can eliminate their manual data entry procedure and have a truly seamless and effective experience with Shufti Pro’s artificially intelligent OCR service.” Victor Fredung CEO of Shufti Pro

About Shufti Pro

Shufti Pro is an identity verification service provider. It offers KYC and AML services globally. It uses both human intelligence and artificial intelligence in its technology to provide highly effective and accurate service. Shufti Pro provides an accuracy rate of 98.67%. It has verified users in 232 countries and territories. Shufti Pro has been the first of its kind to provide identity verification services that cover a large number of countries.