Inquiring about the adequacy of Non-Document Verification as a user onboarding strategy that complies with regulations.
Sumsub, a leading user onboarding solution provider, has announced that its Non-Doc Verification solution is compliant with national regulations in several countries, including Malaysia and Taiwan. This compliance is confirmed through independent assessments and alignments with regulatory frameworks in the APAC region.
The Non-Doc Verification solution is designed to meet strict technical requirements and risk mitigation expectations guided by national regulations and international standards. In Malaysia, Sumsub's solution has completed an independent assessment confirming alignment with Malaysia's e-KYC requirements and the technical standards set by Bank Negara Malaysia. This certification involved evaluation of Sumsub’s identity verification technology, including ID verification, liveness detection, and facial recognition modules, against Malaysia’s regulatory framework.
Beyond Malaysia, Sumsub is actively engaging and aligning with regulatory frameworks in multiple APAC countries such as Taiwan. In Taiwan, Sumsub supports compliance with the Virtual Assets Service Act, anti-fraud legislation, and standards like the Financial Action Task Force (FATF) Recommendation 16, particularly for virtual asset service providers (VASPs). Sumsub participates in regulatory dialogues and provides solutions to ensure compliance with evolving laws in Taiwan and other APAC jurisdictions including Hong Kong, Singapore, and Japan.
The compliance of Sumsub's Non-Doc solution is not limited to Malaysia and Taiwan. The solution is compliant in Argentina, Australia, Brazil, Canada, Colombia, Ghana, India, Indonesia, Malta, Nigeria, New Zealand, the Philippines, South Africa, the UAE, the UK, and the USA. The list of compliant countries is updated regularly following global legal investigations.
To further clarify where non-documentary verification serves as a compliant user onboarding method and how it works, Sumsub has launched a Non-Doc Compliance Guide. This guide is available to the public, providing valuable insights into Sumsub's Non-Doc Verification solution and its compliance with various regulations.
To discuss the compliance of Sumsub's Non-Doc solution in more detail, the company has launched a bi-weekly Q&A series. This week, the Head of Data Intelligence at Sumsub, Vainius Fedotovas, will discuss the compliance of Sumsub's Non-Doc solution. New answers will be posted every other Thursday.
In addition to Non-Doc Verification, the Sumsub platform includes Transaction Monitoring and Document Verification services. The platform is designed to provide tailor-made solutions for 100% AML compliance and security, even in high-risk cases.
If you have questions for the Q&A series, you can submit them on Sumsub's Instagram and LinkedIn. The current Q&A session will discuss the compliance of Sumsub's Non-Doc solution.
[1] Sumsub Malaysia e-KYC Compliance [3] Sumsub Taiwan Compliance
Sumsub's Non-Doc Verification solution is compliant with the e-KYC requirements and technical standards set by Bank Negara Malaysia in Malaysia, demonstrating its alignment with Malaysia's regulatory framework. In Taiwan, Sumsub supports compliance with the Virtual Assets Service Act, anti-fraud legislation, and FATF Recommendation 16, specifically for virtual asset service providers (VASPs), reinforcing Sumsub's technology's adherence to Taiwan's regulatory framework in the field of technology and finance.
