What are the KYC requirements in Turkey?

Turkish KYC requirements are set by Law No. 5549 and MASAK. All obliged entities must verify customer identity, conduct CDD, apply risk-based monitoring and retain records for eight years. KYC Turkey compliance requires documents including TC Kimlik Kartı, Turkish national ID alternatives, passport and foreigner ID card for non-citizens. eKYC Turkey solutions using NFC chip verification accelerate identity verification while meeting BDDK and MASAK standards.

What is MASAK and what does AML compliance Turkey require?

MASAK is Turkey's Financial Intelligence Unit under the Ministry of Treasury and Finance. AML compliance Turkey obligations require financial institutions to conduct CDD, submit suspicious transaction reports via the MASAK Online system, maintain eight-year records and appoint a compliance officer at senior management level. MASAK compliance applies to banks, payment providers, crypto platforms and all obliged entities.

How does KVKK compliance affect KYC data handling in Turkey?

KVKK (Law No. 6698) requires all data controllers to register with VERBIS before processing personal data. KYC data is classified as personal data and must be encrypted, purpose-limited and subject to data subject access rights. KVKK compliance means cross-border transfers require equivalent protection standards. Turkish identity verification Turkey must align with both KVKK data protection and AML compliance requirements.

What documents are accepted for Turkish national ID KYC verification?

Primary documents for Turkish national ID KYC include TC Kimlik Kartı and Turkish Passport. Secondary documents include Sürücü Belgesi, Yabancı Kimlik Kartı and İkamet İzni for foreign nationals. Chip-based national ID cards with NFC receive preference. eKYC Turkey solutions support all 26 Turkish document types including biometric verification.

What are the KYB requirements for verifying Turkish businesses?

Turkish KYB verification requires Ticaret Sicil Gazetesi, Faaliyet Belgesi and Articles of Association for entity identity. Tax identity uses VKN. UBO identification is mandatory under Law No. 5549, requiring Ortaklık Yapısı, Pay Defteri and Gerçek Faydalanıcı Bildirimi documentation. KYB Turkey compliance includes verification of all beneficial owners at 25% ownership thresholds.

How does Shufti support crypto KYC Turkey compliance under CMB regulations?

Crypto KYC Turkey compliance is governed by CMB Law No. 7518, which requires platforms to obtain Capital Markets Board licences by June 2026. Shufti provides full KYC onboarding, jurisdiction verification for Travel Rule compliance, sanctions screening and eight-year record retention. Our crypto KYC Turkey solutions support CMB licence applications and post-licensing MASAK reporting obligations.

What is the data retention requirement for AML records in Turkey?

Law No. 5549 mandates eight-year retention of all AML records from the end of the business relationship. This covers KYC files, transaction records and STR documentation. AML compliance Turkey requires automated retention schedules and maintains audit-ready records for MASAK examinations and regulatory inspections.

How does Turkey's FATF membership affect AML compliance Turkey obligations?

Turkey has been a FATF member since 1991 and was removed from the grey list in June 2024 after addressing compliance gaps. Post-greylisting, MASAK and BDDK enforce heightened AML standards. FATF's 40 Recommendations guide Turkish AML policy and international correspondent banking expectations. AML compliance Turkey now requires demonstrable controls exceeding minimum standards.

What are the penalties for non-compliance with Turkish KYC and AML regulations?

Non-compliance with Turkish KYC and Law No. 5549 AML obligations results in administrative penalties and potential criminal sanctions. MASAK compliance violations attract fines; failure to maintain eight-year records, conduct proper KYC Turkey verification, or submit STRs results in enforcement action. Crypto platforms failing to obtain CMB licences by June 2026 face liquidation. Enhanced penalties apply to repeat violations.

Seychelles

Identity Verification & KYC For Seychelles

Shufti delivers identity verification, KYC, KYB, and AML screening solutions aligned to FSA, FIU, and AML/CFT Act 2020 requirements for Seychelles financial institutions.

Operational performance for Seychelles KYC

Our Numbers Speak Volumes

99.70%

Pass Rates

< 5 sec

Verification
Time

240+

Countries and Territories Covered

Evidence-Ready Checks Across People & Businesses

Individual Documents We Verify

Shufti supports 4 Seychellois document types.

View All Supported Documents

National Identity Card

Official proof of identity issued by the Immigration and Civil Status Department, valid for 10 years. Required for all KYC procedures under the AML/CFT Act 2020.

Seychelles Passport

Biometric passport with integrated microchip, introduced in November 2022. Accepted for high-assurance KYC checks in offshore banking and IBC compliance workflows.

Driving Licence

Issued by the Seychelles Licensing Authority with a 10-year validity. Digital SeyID version accepted for standard CDD and financial services address verification.

Business Entity Identity

Certificate of Incorporation

Official proof of company existence issued by the Seychelles Registrar of Companies. Required for IBCs, local companies, foundations, and limited partnerships under the International Business Companies Act 2016.

Memorandum of Association

A constitutional document outlining the company's objectives and powers. Establishes a corporate governance framework and demonstrates a legitimate business purpose for AML compliance screening.

Articles of Association

Internal rules governing company management and operations. Defines decision-making authority and organisational structure for beneficial ownership verification and compliance reporting.

Business Tax Identity

Tax Identification Number

9-digit identifier issued by the Seychelles Revenue Commission (serves as TIN and VAT number). Mandatory for individuals and legal entities; required for AML reporting and beneficial ownership registration.

VAT Registration

Mandatory for entities with annual taxable turnover exceeding SCR 1 million (15% standard rate). Demonstrates formal business registration status and financial transparency for KYB verification.

Business Registration Number

Company identifier used alongside TIN for business entity verification. Required for beneficial ownership reporting and AML/CFT compliance across regulatory channels.

Ownership & Control (UBO)

Beneficial Ownership Register

Centralised FIU database under the Beneficial Ownership Act 2020; natural persons holding 10% or more must register within 14 days of acquisition. The register is confidential.

Languages We Cover

English And French Document Handling

Seychelles identity documents are issued in English and French only; Creole is not featured despite being the primary language spoken by 95% of the population.

Name Matching Controls

English and French name standards apply; French-influenced surnames and Creole variants require careful matching to reduce false positives in screening.

Evidence Consistency

Customer identity is reconciled across KYC document data, beneficial ownership declarations, and AML screening outputs in one case file for audit compliance.

GOVERNANCE & CONTROLS

Audit-Ready Decisions, Lower Operational Drag

Fewer Avoidable Re-Submissions

Clear image resolution and proper lighting are critical for Seychellois document capture. Shufti's OCR and liveness checks reduce failed verification cycles.

Cleaner Audit Trails

FSA and FIU require complete verification logs for every decision. Shufti creates audit-ready evidence chains for KYC, KYB, and AML with regulatory timestamps.

Better Name Matching Outcomes

English, French, and Creole name variants create matching complexity. Shufti's engine handles phonetic and French-influenced spelling across documents.

One Workflow, One Back Office

KYC, KYB, and AML screening operate independently in most systems. Shufti integrates all three in a single view, reducing back-office handoffs and audit time.

National ID-First Flow Design

The National Identity Card is the primary identity document in Seychelles. Shufti prioritises National ID capture, accelerating verification speed.

Enterprise-grade compliance infrastructure

Seychelles IDV/KYC Challenges

Offshore IBC Document Risk

IBCs use nominee directors, obscuring UBO structures and triggering enhanced due diligence under the Beneficial Ownership Act 2020 for every entity onboarded.

Limited Database Coverage

Seychelles has no centralised identity database; KYC relies on physical documents without real-time electronic cross-referencing for most document types.

Creole-English Name Variants

Names appear differently across English, French, and Creole documentation, causing mismatches and false positives in AML and PEP screening workflows.

VASP Sector High ML/TF Risk

FSA-licensed VASPs face a 90% ML/TF risk rating, requiring enhanced KYC procedures that standard onboarding workflows are not configured to accommodate.

Shufti's IDV/KYC Solutions for Seychelles

KYC Solutions

Face Verification

Biometric liveness detection with document face matching. Supports National Identity Card, passport, and driving licence. Verifies genuine presence and identity match with 96%+ completion rates.

Age Verification

Selfie-based age estimation combined with document verification from the National Identity Card or passport. Enables age-gated services for banking, gaming, and fintech applications.

Address Verification

Shufti can verify any address-bearing document. Validates against PUC, Airtel Seychelles, Cable & Wireless records, and Absa Bank, Nouvobanq, Seychelles Commercial Bank account data.

Document Verification

Optical character recognition and authenticity checks for National Identity Card, passport, driving licence, Certificate of Incorporation, and Tax Identification Number documents.

KYB Solutions

Business Verification

Cross-references UBO information against the FIU Beneficial Ownership Database, the company registry, and tax records. Confirms 10% ownership threshold declarations and flags discrepancies.

Enhanced Due Diligence (EDD)

Structured EDD evidence for elevated-risk entities, including VASPs and IBCs. Captures source of funds, ownership depth, and transaction purpose with full audit trail output.

AML Screening

Business AML Screening

Checks entities and controllers against National Assembly PEP lists, Official Gazette enforcement notices, and international sanctions databases, including OFAC, UN, and EU regimes.

Transaction Screening

Scans transactions and counterparties for financial crime indicators. Coverage includes Seychelles News Agency, Nation Seychelles, and Seychelles Broadcasting Corporation as adverse media sources.

REGULATORY ALIGNMENT

Built to Fit Seychelles's Compliance Landscape

Financial Services Authority (FSA)

Licences and supervises non-bank financial entities, VASPs, and capital markets in Seychelles. Shufti aligns KYC and UBO capture to FSA supervision standards. Official Website: https://fsaseychelles.sc/

Financial Intelligence Unit (FIU)

Operates goAML and maintains the Beneficial Ownership Database for Seychelles. Shufti automates BO verification and STR filing to FIU goAML requirements. Official Website: https://seychellesfiu.sc/

Central Bank of Seychelles (CBS)

Supervises Seychelles banks and enforces AML/CFT Act 2020 compliance requirements. Shufti delivers KYC and transaction monitoring aligned to CBS standards. Official Website: https://www.cbs.sc/

Seychelles Revenue Commission (SRC)

Administers revenue laws and maintains the Tax Identification Number registry in Seychelles. Shufti verifies TIN and tax registration status for KYB workflows. Official Website: https://src.gov.sc/

Information Commission (INFOCOM)

Enforces the Data Protection Act 2023 and investigates data breaches in Seychelles. Shufti encryption and retention controls comply with INFOCOM DPA 2023 standards. Official Website: https://www.infocom.sc/

Seychelles Licensing Authority (SLA)

Issues driving licences and operates the SeyID digital identity platform in Seychelles. Shufti verifies SeyID documents and SLA driving licences for compliance. Official Website: https://www.sla.gov.sc/

Deployment Choice

Cloud regions in Mauritius and South Africa are available for data residency. Shufti offers regional alternatives aligned to data sovereignty requirements.

Regulatory Alignment

Data Protection Act 2023 enforced by INFOCOM; AML/CFT Act 2020 enforced by FSA and FIU. Shufti complies with recordkeeping obligations under both regimes.

Retention Controls

Configurable retention and purge settings aligned to the AML/CFT Act 2020 five-year minimum recordkeeping obligation. Records may be anonymised after retention.

Encryption Posture

Encryption applied to personal and financial data in transit and at rest, aligned to Data Protection Act 2023 requirements and industry security standards.

Data and Privacy Controls in Seychelles

BUILT FOR COMPLIANCE TEAMS

Seychelles AML Sources That Strengthen Decision

National Assembly of Seychelles

Official Gazette of the Republic of Seychelles

Financial Services Authority Seychelles (FSA)

Seychelles News Agency

Nation Seychelles

Seychelles Broadcasting Corporation

National Assembly of Seychelles

Official Gazette of the Republic of Seychelles

Financial Services Authority Seychelles (FSA)

Seychelles News Agency

Nation Seychelles

Seychelles Broadcasting Corporation

National Assembly of Seychelles

Official Gazette of the Republic of Seychelles

Financial Services Authority Seychelles (FSA)

Seychelles News Agency

Nation Seychelles

Seychelles Broadcasting Corporation

National Assembly of Seychelles

Official Gazette of the Republic of Seychelles

Financial Services Authority Seychelles (FSA)

Seychelles News Agency

Nation Seychelles

Seychelles Broadcasting Corporation

Frequently Asked Questions

What are the KYC requirements for financial institutions in Seychelles?

The AML/CFT Act 2020 mandates KYC procedures covering proof of identity (National ID, passport, or driving licence), proof of address via utility bill or lease agreement dated within 3 months, a signed Customer Due Diligence form, beneficial ownership information, and continuous CDD reviews on a risk-sensitive basis. Enhanced due diligence applies to high-risk customers and jurisdictions.

What identity documents does Seychelles accept for KYC verification?

Seychelles accepts three primary identity documents: National Identity Card (Immigration and Civil Status Department, 10-year validity), Seychelles Passport including biometric type (introduced November 2022), and Driving Licence including digital SeyID (Seychelles Licensing Authority, 10-year validity). All documents must be current and valid; a biometric passport is preferred for high-assurance verification.

How do I register with the Seychelles Financial Intelligence Unit (FIU)?

Reporting entities must register with the FIU within 60 days of commencing operations under the AML/CFT Act 2020. Registration occurs via the goAML platform at https://goaml.fiu.sc/. Entities must submit beneficial ownership information within 14 days of acquisition and file Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR) electronically; paper reporting ceased 7 June 2023. Contact the FIU at https://seychellesfiu.sc/ for registration support.

What is beneficial ownership, and why must it be reported in Seychelles?

Beneficial owners are natural persons holding 10% or more of shares or voting rights under the Beneficial Ownership Act 2020. Reporting to the FIU's Beneficial Ownership Database via a registered resident agent within 14 days of acquisition is mandatory for all companies, IBCs, foundations, and partnerships. The register is confidential; non-compliance may result in fines.

What is goAML, and how is it used for AML reporting in Seychelles?

goAML is the UNODC electronic reporting platform operated by the Seychelles Financial Intelligence Unit for mandatory Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR) submission. It became mandatory as of 7 June 2023; paper reporting is no longer accepted. All reporting entities must register and maintain an active account; STR/SAR filings must be submitted within prescribed timelines. Access the platform at https://goaml.fiu.sc/.

What is the difference between KYC and KYB in Seychelles compliance?

Know Your Customer (KYC) verifies individual customer identity and residential address at account opening and continuously. Know Your Business (KYB) covers business entities, including company registration, beneficial ownership, tax identification, and organisational structure. Both are mandatory under the AML/CFT Act 2020; offshore company registration requires both.

Are there enhanced due diligence (EDD) requirements for certain Seychelles clients?

Enhanced due diligence applies to elevated ML/TF risk factors, including residence in high-risk jurisdictions, PEP status, adverse media or sanctions associations, complex ownership structures, and unusual transaction patterns. EDD requires additional verification steps, including source of funds verification, beneficial ownership investigation, business purpose clarification, and enhanced transaction monitoring.

How long must KYC documentation be retained in Seychelles?

The AML/CFT Regulations 2020 require a minimum 5-year retention of KYC documentation post-liquidation. Records must be originals, machine-readable, electronic form, or authenticated electronic records per FATF recommendations. The Data Protection Act 2023 requires data anonymisation after retention via masking, pseudonymisation, encryption, or PII removal. Third parties must maintain CDD measures for a minimum of 7 years.

What does the FSA oversee regarding KYC compliance in Seychelles?

The FSA regulates and supervises non-bank financial institutions, capital markets, collective investments, insurance, fiduciary services, gambling, and Virtual Asset Service Providers (VASP). FSA enforces KYC compliance standards, licensing requirements, and ongoing AML/CFT supervision. The VASP sector faces particular scrutiny due to an elevated ML/TF risk assessment of 90%. FSA maintains guidance on KYC procedures, beneficial ownership verification, and CDD standards aligned with FATF recommendations.

Build a Seychelles-ready KYC, KYB & AML programme with Shufti

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PROVEN WORKFLOWS

Use Cases for Regulated Growth in Seychelles

Marketplace

Banking

Crypto

Fintech

Forex

Gaming

Gig Economy

Marketplace

Banking

Crypto

Fintech

Forex

Gaming

Gig Economy

Marketplace

Banking

Crypto

Fintech

Forex

Gaming

Gig Economy

Reduce Fraud Without Blocking Growth

Shufti supports marketplace integrity by verifying seller and buyer identities, enabling age-gated journeys where needed, and preserving evidence to support investigations, disputes, and risk-led enforcement actions.

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Secure Trust at Every Transaction

Automate KYC and AML workflows to reduce manual onboarding costs. Strengthen residency checks while delivering the frictionless digital experience modern customers expect.

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Scale Your Exchange with Confidence

Balance anonymity with compliance. Instantly verify user jurisdiction to meet Travel Rule obligations and help stop abuse without slowing down legitimate trading volume.

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Accelerate Growth, Eliminate Friction

Onboard users in seconds, not days. Deploy tiered address verification flows that maximise completion rates for genuine users while filtering out synthetic fraud.

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Onboard Global Traders in Real-Time

Verify investors across 250+ countries & territories. Ensure compliance with international financial regulations while preventing identity theft and high-risk chargebacks.

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Power a Fair & Secure Player Experience

Reduce bonus abuse and multi-accounting rings at the door. Enforce location rules and trigger step-up checks without disrupting the player journey.

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