Any company handling financial transactions is required to implement effective anti-money laundering processes and due diligence measures to help prevent money laundering while safeguarding your customers.
With the help of the right data, you can transform your approach to money laundering detection, prevention, and compliance, uncovering hidden risks relating to businesses and the people behind them.
Anti-money laundering (AML) refers to a set of procedures, laws, and regulations designed to prevent criminals from disguising illegally obtained funds as legitimate income. These measures include thorough checks to confirm the identity of individuals and organisations, understand their financial activities, and monitor ongoing transactions to flag and report suspicious activities.
To comply with AML regulations, you need to ensure that your customers are real, alive, and exactly who they say they are. This part of the verification process is known as Know Your Customer (KYC). Platforms such as CrossCore power the tools and services that enable KYC checks, including end-to-end identity checks, age-restriction checks, instant document verification and bank account verification.Find out more about KYC compliance
Combining KYB and KYC due diligence, our tools help verify businesses by applying multiple layers of risk detection to fully understand if the business or the owner is engaged in suspicious activity. Experian provides access to the most comprehensive breadth of data sources in the market. Multi-sourced data corroboration is critical for understanding customers and exposing hidden risks.Discover our KYB solution
Meeting industry and AML regulations is a very real concern for businesses in the UK, with significant fines for failure to comply and ensure effective AML checks. If your business deals with financial transactions, it’s vital that you carry out the necessary identity verification and AML checks to assess and minimise risk.Speak to an expert
Anti-Money Laundering (AML) regulations impact a whole host of different sectors, from financial institutions and banking to estate agents and legal professionals, in a wide variety of ways. Any business dealing with financial transactions must meet the regulations and policies put in place by the UK Government’s Good Practice Guide 45 (GPG45) and the Joint Money Laundering Steering Group (JMLSG).Speak to an expert
Meet all relevant KYC compliance requirements.
Discover the best tools and solutions to ensure your business remains compliant.
State-of-the-art tools and techniques to combat ID fraud and confirm customer identities.