The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

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    • Saudi Arabia (‫المملكة العربية السعودية‬‎)+966
    • United Arab Emirates (‫الإمارات العربية المتحدة‬‎)+971
    • Qatar (‫قطر‬‎)+974
    • Oman (‫عُمان‬‎)+968
    • Bahrain (‫البحرين‬‎)+973
    • Kuwait (‫الكويت‬‎)+965
    • Morocco (‫المغرب‬‎)+212
    • Afghanistan (‫افغانستان‬‎)+93
    • Albania (Shqipëri)+355
    • Algeria (‫الجزائر‬‎)+213
    • American Samoa+1684
    • Andorra+376
    • Angola+244
    • Anguilla+1264
    • Antigua and Barbuda+1268
    • Argentina+54
    • Armenia (Հայաստան)+374
    • Aruba+297
    • Australia+61
    • Austria (Österreich)+43
    • Azerbaijan (Azərbaycan)+994
    • Bahamas+1242
    • Bahrain (‫البحرين‬‎)+973
    • Bangladesh (বাংলাদেশ)+880
    • Barbados+1246
    • Belarus (Беларусь)+375
    • Belgium (België)+32
    • Belize+501
    • Benin (Bénin)+229
    • Bermuda+1441
    • Bhutan (འབྲུག)+975
    • Bolivia+591
    • Bosnia and Herzegovina (Босна и Херцеговина)+387
    • Botswana+267
    • Brazil (Brasil)+55
    • British Indian Ocean Territory+246
    • British Virgin Islands+1284
    • Brunei+673
    • Bulgaria (България)+359
    • Burkina Faso+226
    • Burundi (Uburundi)+257
    • Cambodia (កម្ពុជា)+855
    • Cameroon (Cameroun)+237
    • Canada+1
    • Cape Verde (Kabu Verdi)+238
    • Caribbean Netherlands+599
    • Cayman Islands+1345
    • Central African Republic (République centrafricaine)+236
    • Chad (Tchad)+235
    • Chile+56
    • China (中国)+86
    • Christmas Island+61
    • Cocos (Keeling) Islands+61
    • Colombia+57
    • Comoros (‫جزر القمر‬‎)+269
    • Congo (DRC) (Jamhuri ya Kidemokrasia ya Kongo)+243
    • Congo (Republic) (Congo-Brazzaville)+242
    • Cook Islands+682
    • Costa Rica+506
    • Côte d’Ivoire+225
    • Croatia (Hrvatska)+385
    • Cuba+53
    • Curaçao+599
    • Cyprus (Κύπρος)+357
    • Czech Republic (Česká republika)+420
    • Denmark (Danmark)+45
    • Djibouti+253
    • Dominica+1767
    • Dominican Republic (República Dominicana)+1
    • Ecuador+593
    • Egypt (‫مصر‬‎)+20
    • El Salvador+503
    • Equatorial Guinea (Guinea Ecuatorial)+240
    • Eritrea+291
    • Estonia (Eesti)+372
    • Ethiopia+251
    • Falkland Islands (Islas Malvinas)+500
    • Faroe Islands (Føroyar)+298
    • Fiji+679
    • Finland (Suomi)+358
    • France+33
    • French Guiana (Guyane française)+594
    • French Polynesia (Polynésie française)+689
    • Gabon+241
    • Gambia+220
    • Georgia (საქართველო)+995
    • Germany (Deutschland)+49
    • Ghana (Gaana)+233
    • Gibraltar+350
    • Greece (Ελλάδα)+30
    • Greenland (Kalaallit Nunaat)+299
    • Grenada+1473
    • Guadeloupe+590
    • Guam+1671
    • Guatemala+502
    • Guernsey+44
    • Guinea (Guinée)+224
    • Guinea-Bissau (Guiné Bissau)+245
    • Guyana+592
    • Haiti+509
    • Honduras+504
    • Hong Kong (香港)+852
    • Hungary (Magyarország)+36
    • Iceland (Ísland)+354
    • India (भारत)+91
    • Indonesia+62
    • Iran (‫ایران‬‎)+98
    • Iraq (‫العراق‬‎)+964
    • Ireland+353
    • Isle of Man+44
    • Israel (‫ישראל‬‎)+972
    • Italy (Italia)+39
    • Jamaica+1876
    • Japan (日本)+81
    • Jersey+44
    • Jordan (‫الأردن‬‎)+962
    • Kazakhstan (Казахстан)+7
    • Kenya+254
    • Kiribati+686
    • Kosovo+383
    • Kuwait (‫الكويت‬‎)+965
    • Kyrgyzstan (Кыргызстан)+996
    • Laos (ລາວ)+856
    • Latvia (Latvija)+371
    • Lebanon (‫لبنان‬‎)+961
    • Lesotho+266
    • Liberia+231
    • Libya (‫ليبيا‬‎)+218
    • Liechtenstein+423
    • Lithuania (Lietuva)+370
    • Luxembourg+352
    • Macau (澳門)+853
    • Macedonia (FYROM) (Македонија)+389
    • Madagascar (Madagasikara)+261
    • Malawi+265
    • Malaysia+60
    • Maldives+960
    • Mali+223
    • Malta+356
    • Marshall Islands+692
    • Martinique+596
    • Mauritania (‫موريتانيا‬‎)+222
    • Mauritius (Moris)+230
    • Mayotte+262
    • Mexico (México)+52
    • Micronesia+691
    • Moldova (Republica Moldova)+373
    • Monaco+377
    • Mongolia (Монгол)+976
    • Montenegro (Crna Gora)+382
    • Montserrat+1664
    • Morocco (‫المغرب‬‎)+212
    • Mozambique (Moçambique)+258
    • Myanmar (Burma) (မြန်မာ)+95
    • Namibia (Namibië)+264
    • Nauru+674
    • Nepal (नेपाल)+977
    • Netherlands (Nederland)+31
    • New Caledonia (Nouvelle-Calédonie)+687
    • New Zealand+64
    • Nicaragua+505
    • Niger (Nijar)+227
    • Nigeria+234
    • Niue+683
    • Norfolk Island+672
    • North Korea (조선 민주주의 인민 공화국)+850
    • Northern Mariana Islands+1670
    • Norway (Norge)+47
    • Oman (‫عُمان‬‎)+968
    • Pakistan (‫پاکستان‬‎)+92
    • Palau+680
    • Palestine (‫فلسطين‬‎)+970
    • Panama (Panamá)+507
    • Papua New Guinea+675
    • Paraguay+595
    • Peru (Perú)+51
    • Philippines+63
    • Poland (Polska)+48
    • Portugal+351
    • Puerto Rico+1
    • Qatar (‫قطر‬‎)+974
    • Réunion (La Réunion)+262
    • Romania (România)+40
    • Russia (Россия)+7
    • Rwanda+250
    • Saint Barthélemy (Saint-Barthélemy)+590
    • Saint Helena+290
    • Saint Kitts and Nevis+1869
    • Saint Lucia+1758
    • Saint Martin (Saint-Martin (partie française))+590
    • Saint Pierre and Miquelon (Saint-Pierre-et-Miquelon)+508
    • Saint Vincent and the Grenadines+1784
    • Samoa+685
    • San Marino+378
    • São Tomé and Príncipe (São Tomé e Príncipe)+239
    • Saudi Arabia (‫المملكة العربية السعودية‬‎)+966
    • Senegal (Sénégal)+221
    • Serbia (Србија)+381
    • Seychelles+248
    • Sierra Leone+232
    • Singapore+65
    • Sint Maarten+1721
    • Slovakia (Slovensko)+421
    • Slovenia (Slovenija)+386
    • Solomon Islands+677
    • Somalia (Soomaaliya)+252
    • South Africa+27
    • South Korea (대한민국)+82
    • South Sudan (‫جنوب السودان‬‎)+211
    • Spain (España)+34
    • Sri Lanka (ශ්‍රී ලංකාව)+94
    • Sudan (‫السودان‬‎)+249
    • Suriname+597
    • Svalbard and Jan Mayen+47
    • Swaziland+268
    • Sweden (Sverige)+46
    • Switzerland (Schweiz)+41
    • Syria (‫سوريا‬‎)+963
    • Taiwan (台灣)+886
    • Tajikistan+992
    • Tanzania+255
    • Thailand (ไทย)+66
    • Timor-Leste+670
    • Togo+228
    • Tokelau+690
    • Tonga+676
    • Trinidad and Tobago+1868
    • Tunisia (‫تونس‬‎)+216
    • Turkey (Türkiye)+90
    • Turkmenistan+993
    • Turks and Caicos Islands+1649
    • Tuvalu+688
    • U.S. Virgin Islands+1340
    • Uganda+256
    • Ukraine (Україна)+380
    • United Arab Emirates (‫الإمارات العربية المتحدة‬‎)+971
    • United Kingdom+44
    • United States+1
    • Uruguay+598
    • Uzbekistan (Oʻzbekiston)+998
    • Vanuatu+678
    • Vatican City (Città del Vaticano)+39
    • Venezuela+58
    • Vietnam (Việt Nam)+84
    • Wallis and Futuna+681
    • Western Sahara (‫الصحراء الغربية‬‎)+212
    • Yemen (‫اليمن‬‎)+967
    • Zambia+260
    • Zimbabwe+263
    • Åland Islands+358
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    FATF Claims Golden Visa Programs Raise Financial Crimes Activities

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    The international regulatory body, Financial Action Task Force (FATF), reported that Citizenship by Investment (CBI), known as the “golden visa,” allows criminals to hide their laundered money and protect them from civil penalties and prosecutions

    According to FATF investigation findings, citizenship and residency programmes enhance the risks of financial crimes, such as money laundering, terrorist financing, and tax evasion. The probe found a lack of transparency in how the golden visa scheme works and a deficiency in collaboration with the member states. The FATF had urged members to comply with the AML regulations during the “golden passports” and “golden visa” programmes. In addition, they claimed the citizenship programme, including the residency scheme, is a “multi-dollar business” and assists launderers to evade corruption charges or access third countries. Admitting these programmes involve money laundering and other organised crimes, FATF president T. Raja Kumar stated, “they can and are being exploited by criminals and the corrupt, who want to launder their money, hide their identity and assets, or carry out further crimes. This report calls on governments operating these programmes to implement a variety of safeguards to ensure these programmes are administered in a risk-sensitive way.”

    The FATF also stressed that these permits make it easy for criminals to move from one country to another whilst hiding their identities by using shell companies in different nations. They emphasised the deficiencies in these programmes, such as insufficient risk assessment process, involvement of government bodies, and misuse of attorneys to help get citizenship. There are significant countries which offer citizenship programmes by the government. The first allowed business owners to invest a certain amount in a country to obtain a residency permit, and the second allowed them to get citizenship. 

    The amount depends on the countries and investment programme the business owner applied for. Although these programmes positively impact the country’s economy, these programmes are also involved in money laundering, tax evasion, corruption, and other financial crimes. The Secretary General of the Organisation for Economic Co-operation and Development (OECD), Mathias Cormann, stated, “our joint FATF-OECD work identifies the risks and vulnerabilities around golden visa schemes and offers a series of mitigation measures to help policymakers and programme operators including appropriate due diligence, transparency, and integrity mechanisms.”

    According to the FATF research, although an adequate compliance process of the Citizenship by Investment (CBI) or Residency by Investment (RBI) initiatives benefits host nations and their citizens, there is a real risk of criminal activity when using them. Golden visa providers can utilise robust technology to verify the customer’s identity and compliance with the latest anti-money laundering obligations. It assists them in mitigating the risk of terrorism financing and other financial activities.  

    Suggested Reads: 

    FATF REMOVES CAYMAN ISLANDS AND PANAMA FROM INCREASED AML MONITORING LIST

    FATF DISCLOSES OUTCOMES OF OCTOBER PLENARY MEETING

    FATF WARNS MANY COUNTRIES CONTINUE TO FACE CHALLENGES IN MEETING VIRTUAL ASSET REGULATIONS

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    Research for Implications of CBDC on the Rise in Australia

    As of the November 2 announcement of the Reserve Bank of Australia, the country has partnered wit...

    Research for Implications of CBDC on the Rise in Australia Explore More

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    Hogan and other US Top Official Become the Victim of Identity Theft

    A fraud scheme attacking top government officials of Maryland State has been uncovered. The schem...

    Hogan and other US Top Official Become the Victim of Identity Theft Explore More

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    OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing

    The Organisation for Security and Co-operation in Europe (OSCE) supported the joint efforts with ...

    OSCE – Eurasian Forum Combines to Counter Money Laundering and Terrorism Financing Explore More

    News

    UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade

    The UK Government has put technology as the front and centre force to fight crimes and reinforce ...

    UK Government Aims to Recover £1 Billion Lost Funds Over the Next Decade Explore More

    News

    NAB Updating KYC Data of 9M Customers

    Project Apollo has been initiated by NAB in an attempt to meet AML obligations.  In August 2021, ...

    NAB Updating KYC Data of 9M Customers Explore More

    News

    American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering

    Labaton Sucharow and Schall Law have a record of pursuing legal claims against listed organizatio...

    American Law Firms Building Class Suits against HSBC and Standard Chartered for Money Laundering Explore More

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    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens

    In an interview with ICIJ, XXI editor David Servenay says that the offshore world is more powerfu...

    French Magazine XXI to Reveal ICIJ’s Take on Tax Havens Explore More

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    Foxconn Becomes the Victim of Ransomware Attack

    A ransomware attack has impacted an electronic manufacturer, Foxconn, very badly. This attack was...

    Foxconn Becomes the Victim of Ransomware Attack Explore More

    News

    FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations

    A Texas community bank was fined by the Financial Crimes Enforcement Network (FinCEN) and the Off...

    FinCEN and OCC Fine Texas Bank $9 Million for BSA-AML Violations Explore More

    News

    US Authorities Seize Bahamas Bank for Laundering $58 Million

    It’s rumoured that Deltec, a Bahamas-based bank popular with crypto clients, is linked to a...

    US Authorities Seize Bahamas Bank for Laundering $58 Million Explore More

    News

    Kansas Reports Highest Number of Identity Theft Cases in 2020

    New research conducted reveals that Kansas State has been ranked at number one for having the mos...

    Kansas Reports Highest Number of Identity Theft Cases in 2020 Explore More

    News

    Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud

    The Australian government will soon ban online gambling with credit cards. The government will in...

    Australia to Ban Credit Cards for Online Gambling to Prevent Payment Fraud Explore More

    News

    FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion

    The Financial Intelligence Unit of Liberia (FIUL) has recovered more than $284,000 from two compa...

    FIU Recovers $284K From Two Companies Suspected of Money Laundering and Tax Evasion Explore More

    News

    California’s EDD is Falling Behind in Legitimate Unemployment Claims

    According to a report by Calmatters, California’s Employment Development Department is lacking be...

    California’s EDD is Falling Behind in Legitimate Unemployment Claims Explore More

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    Europol Releases First Financial and Economic Crime Report

    Europol has published its first-ever threat assessment report on financial and economic crimes, h...

    Europol Releases First Financial and Economic Crime Report Explore More

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    FinCEN Says Russia Cannot Evade Sanctions with Crypto

    Global lawmakers are taking a closer look at digital assets and how they can or cannot be used to...

    FinCEN Says Russia Cannot Evade Sanctions with Crypto Explore More

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