KYC Coverage
Discover AU10TIX’s sophisticated identity verification solutions in the United Arab Emirates. Get insights into United Arab Emirates’ 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 the United Arab Emirate’s (UAE) financial landscape. We at AU10TIX offer advanced identity verification and AML screening solutions, helping businesses in the UAE 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.
The UAE has established effective KYC regulations to prevent fraud, money laundering, and terrorist financing. Governed by the Central Bank of the UAE and other regulatory bodies, businesses must adhere to stringent requirements when verifying customer identities. Financial institutions, fintech firms, and other regulated entities must collect, authenticate, and maintain accurate customer data as part of the onboarding process, ensuring that they align with Cabinet Decision No. (10) of 2019 on AML and combating the financing of terrorism.
For companies operating within the United Arab Emirates, ensuring that both customers and business entities comply with local regulations is critical. The UAE requires firms to perform due diligence when verifying the authenticity of businesses, particularly under the Economic Substance Regulations (ESR). By utilizing our (AU10TIX) verification tools, companies can ease the process of validating businesses registered in the UAE, ensuring that they meet the necessary compliance standards while mitigating risk.
To combat money laundering and terrorist financing, the UAE has implemented comprehensive AML regulations. Businesses are required to monitor transactions, report suspicious activities, and implement comprehensive AML screening processes. Under the Federal Decree Law No. (20) of 2018, entities must ensure continuous monitoring of their customers’ financial activities, ensuring that all AML obligations are met. We at AU10TIX offer solutions designed to automate these compliance processes, making it easier for businesses to stay in line with regulations.
Our top notch document verification technology ensures the authenticity of official UAE identity documents, allowing businesses to prevent fraud and identity theft. By analyzing multiple security features, our systems provide unparalleled accuracy in identity verification.
The UAE ID is the primary identification document for residents and citizens in the United Arab Emirates. To ensure its authenticity, we (AU10TIX) verify:
- Security features: Inclusions of holograms, microtext, and UV markings, which are often targets for counterfeiting.
- Known forgeries: Our systems compare documents against a global database of known fraudulent IDs, ensuring accurate detection.
- Layout: We analyze the specific design of the UAE ID, including card dimensions, spacing, and positioning of elements.
- Font: We evaluates typography, as counterfeit documents often have inconsistencies in font styles and sizes.
- Image manipulation: We detect signs of image tampering, ensuring the photograph matches the individual presenting the document.
Similarly, we scrutinize UAE drivers licenses to prevent fraud, focusing on the same key points:
- Security features: Detection of embedded chips, holograms, and watermarks.
- Known forgeries: Cross-referencing against a database of known fake licenses.
- Layout: Verifying that the layout adheres to the official standards.
- Font: Ensuring fonts are consistent with authentic UAE licenses.
- Image manipulation: Checking for any alterations to the license holder’s photograph.
The UAE maintains a comprehensive business registry, allowing firms to verify the legitimacy of companies operating in the country. We provide businesses access to official UAE business databases, such as the United Arab Emirates Ministry of Economy’s Commercial Register and Dubai Chamber of Commerce’s Business Directory. These databases are critical for verifying the existence and status of a company. Firms can easily access this information online and integrate it into their KYC and AML verification workflows.
Our verification solutions are specifically designed to meet the unique regulatory requirements of the United Arab Emirates, offering several advantages:
