How Jumio Supports PCMLTFA Compliance
Under PCMLTFA, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) collects, analyzes and discloses information to help detect, prevent and deter money laundering and terrorist financing.
FINTRAC Requirement/Guidance Related to ID Verification:
“If an individual is not physically present, the authenticity of a government-issued photo identification document must be determined by using a technology capable of assessing the document’s authenticity.”
- Jumio lets end users capture a picture of their ID with a smartphone or their computer’s webcam.
- Jumio uses AI and machine learning to check the existing ID document against established government-issued ID templates.
FINTRAC Requirement/Guidance Related to Identity Verification:
“When an individual is not physically present, you must still determine if the individual presenting the government-issued photo identification document matches the name and photo of the person in the authenticated document provided.”
- Jumio’s face-matching algorithms compare the selfie with the picture on the ID document.
FINTRAC Requirement/Guidance Related to Face-based Biometrics:
“An individual could be asked to take a ‘selfie’ photo using the camera on their mobile phone or electronic device, and an application used by you, as the RE (reporting entity), would apply facial recognition technology to compare the features of that ‘selfie’ to the photo on the authentic government-issued photo identification document. A process would have to exist to also compare the name on the government-issued photo identification document with the name provided to you, as the RE, by the individual.”
- Jumio’s face-matching algorithms compare the selfie with the picture on the ID document.
