Download report on the rising trend of KYC/AML compliance in GCC region
Search
Generic filters
Report

Rising trend of KYC/AML compliance in GCC countries

World Bank predicted that the economy of Gulf countries will grow during 2020-21. And to…

356
Download Button 123
Name *

Company Email *

Company Name *

I agree to receive the latest updates, information, and relevant offers from Shufti Pro.

What’s inside this report?

  • KYC/AML regulatory landscape of Gulf countries
  • A summary of the status of KYC/AML in GCC countries
  • Common AML/KYC compliance practices in the region
  • Challenges of KYC and AML compliance in GCC countries
  • How AI-based KYC/AML screening helps in overcoming compliance challenges

As per research, 47% of businesses in the middle east reported customer fraud in the past two years. Apart from increasing fraud, high verification costs, lack of uniformity in KYC/AML laws in the region, and technically evolving financial crime in digital payments are major concerns of corporates. Regulatory authorities are introducing significant advancements in customer due diligence and AML/CFT laws to improve the global financial collaborations of their financial institutions.

This report will provide detailed insight into the laws, regulatory authorities, latest FATF analysis of GCC countries, common KYC/AML compliance practices and challenges that businesses are facing in Saudi Arabia, the United Arab Emirates, Qatar, Oman, Bahrain, and Kuwait. This Gulf is going through a regulatory shift and the businesses are ready to adopt the new normal in payments and customer verification.

All the member countries in the Gulf Cooperation Region acknowledge FATF regulations when drafting their AML/KYC laws and Saudi Arabia became the first full member of FATF in June 2019. Saudi Arabia, Kuwait, and Bahrain are among the world’s top 10 business climate improvers. The authorities and businesses are equally inclined to improve the KYC and AML landscape of the region which promises growth and stability of the financial and corporate of the region. Download the report for more details.

  • Know-your-Patient

    Know Your Patient – A 360° view of patient identification in healthcare

    View Detail White Paper
  • image-report

    Enhanced AI – Augmenting Identity Verification with Artificial Intelligence

    View Detail Report
  • Kyc Guide Uk

    A comprehensive guide to KYC and AML compliance in the UK

    View Detail Product Guide
  • Insurance

    Growing Frauds and Financial Crime in Insurance and the Role of Digital KYC

    View Detail White Paper
  • Banking on Biometric

    Banking on Biometrics: The Future of Customer Authentication

    View Detail White Paper
  • ocr-img-whitepaper

    Fully Embracing Digital Transformation with Automated AI OCR Engine

    View Detail White Paper
  • GCC report

    Rising trend of KYC/AML compliance in GCC countries

    View Detail Report
  • video-kyc-product-guide

    Video Interview KYC – Efficient & Secure Customer Onboarding

    View Detail Product Guide
  • real estate

    Need for Identity Verification To Deal With Money Laundering Threats in Real Estate Sector

    View Detail White Paper
  • Remote-onboarding

    Onboarding Remote Employees: How Identity Verification Can Reduce Risks in Hiring Process

    View Detail White Paper
  • Whitepaper healthcare

    How Automation will Improve Operational Efficiency in the Healthcare Industry

    View Detail White Paper
  • Whitepaper telecom

    Automated ID Verification System to Tackle Telecom Frauds

    View Detail White Paper
  • whitepaper KYC-AML-compliance-for-ICOs

    Launching an ICO? Learn Why KYC and AML Compliance Matters

    View Detail White Paper
  • fintech-customer-video-KYC-img

    Fintech customer onboarding through video KYC

    View Detail White Paper
  • Impact-of-regulatory-changes

    Impact of Regulatory Changes in the Financial Sector

    View Detail Report
  • New account Fraud

    New Account Fraud- A new breed of scams

    View Detail Report
  • KYC-in-Gaming-Industry

    Tackling fraud while giving a seamless experience to the players

    View Detail White Paper
  • How Businesses can prevent fraud during COVID-19

    How businesses can prevent fraud during COVID-19

    View Detail White Paper
  • Need for online age verification to protect minors

    Need for Online Age Verification to Protect Minors

    View Detail White Paper
  • Biometrics for Identity Verification

    Biometric Technologies Reshaping Identity Verification

    View Detail White Paper