Companies that deal with financial transactions have to comply with Anti-Money Laundering (AML) Compliance strategies. Not only is this to ensure you adhere to AML regulations, it's also best practice for any business. AML checks need to include an array of procedures and should also include Know Your Customer (KYC) methods to help prevent and detect financial crime early.
Using the right AML software can help you implement KYC AML tactics. Our analysis has shown an increase in Open Account Fraud and other types of fraud. Our tools can help prevent fraud, and help your business meet legal requirements more easily and efficiently under Anti-Money Laundering UK legislation.
Anti-Money Laundering screening you can rely on
Tools suitable for Anti-Money Laundering compliance regulations
Easily monitor and share your company’s AML procedures
Valuable Anti-Money Laundering analytics to gain insight into risk and highlight potential fraud
Our tools can help you comply with the law and provide insights to ensure a safe and secure future for your business. From your first interaction with a customer to your ongoing daily relationship.
Ensure you understand exactly who your existing business customers or potential customers are.
AML legislation and guidelines around KYC change often, and a review can help you stay on top of it.
Stay on top of customer transactions and behaviour to identify potential fraud.
Global fraud detection software suite to protect against online fraudsters by monitoring device usage.
Combine all your AML and KYC tools into one easy-to-use app.
Our white paper explores the latest data and trends in financial crime and fraud.
AML simply stands for Anti-Money Laundering. Money Laundering legislation requires that any company handling financial transactions implement Anti-Money Laundering procedures. This means your business needs to implement proper procedures and software to help with the prevention of Money Laundering.
An Anti-Money Laundering check is a process your business needs to undertake to prevent Money Laundering activity. An AML check should include Know Your Customer (KYC) procedures so you can prove you know who you are dealing with. An AML check involves identity checks and verification, plus monitoring of financial transactions to detect fraud. The scope of overall AML compliance is wide and can be complex, depending on your business. For example, you might need to understand what Anti-Money Laundering checks for solicitors entail if you work in the legal sector. Anti-Money Laundering checks are in place to help reduce the estimated US$1 trillion lost every year due to Money Laundering.ii
Any business that deals with financial transactions needs to perform Anti-Money Laundering checks. This includes companies in both the B2B and B2C sectors.
Red flags in Anti-Money Laundering include anomalies in a customer's transaction history and sudden large or lots of small transfers. There are many other red flags which can be detected by software and procedures within your business. AML red flags can help highlight that financial crime is taking place. But the clues are many and varied, and tools can help make this easier.
KYC stands for Know Your Customer. It is about understanding exactly who your customer is. KYC forms part of the AML (Anti-Money Laundering) procedures and legislation, and is vital in making sure your company is compliant. Although it is an important element, KYC is not a full AML policy on its own. You need many other tools and procedures to comply with AML legislation fully. Our experts can help you understand what these compliance measures include.
Fraud Prevention & Management
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Anti-Money Laundering Checks
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Know Your Customer Checks
Perform the checks you need to keep your organisation compliant
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