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The State of
KYC
in Africa

Everything you need to know about the African KYC landscape and the impact of emerging fraud trends on African businesses

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Overview

Smile Identity has run over 30 million KYC checks across the continent of Africa making us the largest KYC provider with the widest coverage in the region. This report provides an overview of Africa's current KYC practices and fraud trends based on our data. The report's main goal is to help businesses understand the current landscape and develop new strategies to strengthen their KYC and identity verification processes.

What you will find in this report:

  • The current KYC processes in Africa and the adoption of robust digital ID infrastructure
  • The most common fraud techniques in Africa
  • The most vulnerable industries in Africa
  • How to identity and prevent fraud for your business

A sneak peek of the report

  • Fraud attempts increased by 30% in the first half of 2022

  • BNPL and investment & savings experience more than 30% biometric fraud

  • 48% of biometric fraud were cases of identity theft