KYC Coverage
Discover AU10TIX’s sophisticated identity verification solutions in India. Get insights into India’s supported documents and official KYC regulations.
Ensuring compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations is an absolute necessity to operating successfully in India’s financial landscape. We at AU10TIX offer advanced identity verification and AML screening solutions, helping businesses in India meet strict regulatory requirements while simplifying the customer onboarding process. With tailored solutions designed to assert the integrity of your business, we ensure full compliance with local and international standards.
India’s KYC regulations are overseen by the Reserve Bank of India (RBI) and aim to curb financial crimes such as fraud, money laundering, and terrorist financing. Businesses are required to collect and verify customer identification details before onboarding them. The Prevention of Money Laundering Act (PMLA) and RBI’s guidelines enforce these requirements, making compliance mandatory for banks, financial institutions, and other regulated entities.
Indian businesses are subject to strict verification processes as part of the KYC regulations. The Ministry of Corporate Affairs (MCA) requires companies to maintain accurate records and provide proof of authenticity, such as the Corporate Identification Number (CIN). The Registrar of Companies (ROC) also plays an important part in ensuring companies are properly registered and compliant with Indian laws.
India’s AML framework is governed by the Prevention of Money Laundering Act (PMLA), requiring businesses to monitor transactions and report suspicious activities to the Financial Intelligence Unit (FIU). Compliance with AML regulations is mandatory for preventing criminal financial activities, and businesses must have in place systems to detect, prevent, and report money laundering attempts.
Our top notch document verification technology ensures the authenticity of official Indian identity documents, allowing businesses to prevent fraud and identity theft. By analyzing multiple security features, our systems provide unparalleled accuracy in identity verification.
To ensure the authenticity of Indian IDs, we (AU10TIX) scrutinize the following features to detect even the smallest discrepancies:
- Security features: Holograms, watermarks, and embedded chips that ensure ID integrity.
- Known forgeries: Commonly falsified elements, such as photo replacement and data alteration.
- Layout: The standard positioning of details such as name, date of birth, and signature.
- Font: The type and size of fonts used on the ID.
- Image manipulation: Alterations to the photo, such as cropping or pixelation, that could indicate tampering.
We also make use of our advanced technology to verify the authenticity of Indian driver’s licenses by analyzing:
- Security features: UV marks, micro-printing, and barcodes to ensure legitimacy.
- Known forgeries: Common counterfeit methods are flagged for detection.
- Layout: Ensuring the placement of license numbers, dates, and personal information matches official formats.
- Font: Comparing text to authorized font standards.
- Image manipulation: Identifying digital alterations to photographs or signatures.
Indian businesses are required to provide detailed information to the Ministry of Corporate Affairs for verification. This includes the company’s Corporate Identification Number (CIN), business structure, and proof of registration with the Registrar of Companies (ROC). Businesses can access the official MCA portal for registration and verification, enstablishing transparency and compliance with regulatory requirements.
We at AU10TIX provide a comprehensive verification solution tailored to India’s regulation and law. Our platform’s advantages include:
We take pride in providing solutions that are well-suited for the Indian market, providing businesses with the tools they need to remain compliant, secure, and efficient in the fight against financial crime. Contact us today to see how we can help you mitigate the risk of fraud to a minimum.