Best practices for determining a user's country in a React Native financial app for fraud prevention

We are developing a mobile app for our financial institution using React Native. As part of our fraud prevention measures, we need to determine the country a user is located in. However, we have noticed that the permission requests seem excessive for our requirements, especially since we only need this information if a user changes countries. Also, is there a way to only be notified when a user changes countries?

Our primary goal is to identify the user's country without requesting unnecessary permissions or compromising the user experience. We want to avoid requesting location permissions if possible, as it may raise concerns among our users.

What are the best practices and recommended approaches for financial institutions to determine a user's country in a React Native app, while minimizing the use of sensitive permissions? Are there any iOS-specific APIs, frameworks, or third-party libraries that can help us achieve this in a privacy-friendly manner?

We would greatly appreciate any guidance, insights, or examples from the developer community to help us strike the right balance between security and user privacy. Thank you in advance for your assistance!