Compliance
Shufti Pro adheres to legislations, guidelines and directives put in place by regulatory authorities and international watchdogs for KYC and AML compliance.
Download country specific compliance &
regulations reports
PCI DSS
Payment Card Industry Data Security Standards are applicable. Standard Industry-level measures for security mandates are enforced, Alongside technologies that prevent breaches and Cardholder data theft.
E-payments
FinTech
POS vendors
E-merchants
Compliance Measures by Shufti Pro
- Adherence to the PCI DSS requirement 3.3
- PAN masking of plastic payment cards
- Only first six (6) & last four (4) digits are displayed
Quality Guild(QG)
Quality Guild(QG) Management Standards are devised to assist organizations in the compliance of new regulatory requirements. The QG GDPR Management Standard is based upon the principles of the General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679).
Applicable for all organizations who are either controllers and/or processors of personal data.
Compliance Measures by Shufti Pro
- Processing practices in accordance with the principles of Article 5 of the GDPR.
- Allowance to fulfill Data Subject rights.
- Maintenance of vital records as per obligations on a Data Processor.Â
- Stringent security controls in place for data protection and processing(Art 32).
- SSAE compliant and ISO-certified data centers for all data storage.
- Performance of necessary privacy and risk assessments.
GDPR
General Data Protection Regulation is a directive coined by EU legislation that sets forth guidelines regarding how information is to be collected and processed.
Compliance Measures by Shufti Pro
- Privacy and data policies available for clients
- Access to documentation processes
- User’s consent and rights to request data made clear
FINCEN
FinCEN is the Bureau of the U.S. Department of the Treasury, responsible for the protection of the financial system from illicit use, established to combat money laundering and promote national security.
Applicable for entities registered in the United States and its surrounding jurisdictions.
Compliance Measures by Shufti Pro
- Provision of verification services to legal/financial intermediaries.
- KYC of customers and beneficial owners of companies
- AML screening within a greater risk-based approach
FINMA
FINMA, the Swiss Government body responsible for financial regulation within Switzerland, is responsible for the supervision of banks, insurance, associated financial institutions, and intermediaries.
Applicable for Swiss-based Financials Institutions, E-payments, SRO’s, Online Businesses & Associations.
Compliance Measures by Shufti Pro
- Visual security features of identity documents checked
- Liveness detection for video verification and selfie upload
- Adoption of measures with respect to technology enhancements
FINTRAC
FinTRAC deals in the detection, prevention and deterrence of money laundering and financing of terrorist activities in Canada. Under its control, FinTRAC ensures the protection of personal information.
Applicable for Businesses and Entities operating in Canada and jurisdictions under the control of Canada.
Compliance Measures by Shufti Pro
- Verification performed through photo-identification method
- Verification performed through the dual process method
- Provision for PEP and watchlists screening
- Address Verification from given identity document
FATF
FATF global standards promote effective implementation measures for combating money laundering, terrorist funding and other threats to the integrity of the international financial system.
Applicable for organizations from member and non-member countries.
Compliance Measures by Shufti Pro
- Use of reliable data and independent source documents
- Records updated and maintained
- PEPs, sanctions and watch lists’ screening
OFAC
OFAC is responsible for economic sanction administration and enforcement in support of U.S. national security and foreign policy objectives.
Applicable for any entity that conducts business activities with compromised individuals.
Compliance Measures by Shufti Pro
- Global sanctions and watch lists of regulatory authorities
- AML screening against OFAC highlighted (and other) lists
