Verify a client’s ID instantly
Make sure your client is who they say they are and meet your due diligence obligations by checking they are not engaged in any suspicious activity. Our AML checks screen against global PEPs and Sanction databases to give you the highest protection against terrorism funding, fraud and other unlawful financial activity.
Screen against 300+ sources
Instantly cross-reference over 300 data sources to manage and mitigate anti-money laundering risk, for an enhanced due diligence process. Our data includes: Credit Data, International PEPs and Sanctions Lists, Passport and European ID Cards, Electoral Roll, plus household and utility bills.
Increase revenue & efficiency
Maximise new business potential through the increased speed and efficiency of your sales and on-boarding process. Our checks will give you an answer in seconds, reducing drop-off rates and keeping new clients happy. Access can also be granted to numerous departments within the business to improve efficiency throughout the entire lifetime of a customer.
Ensure regulatory compliance
Our Anti-Money Laundering checks meet the standards outlined by the joint Money Laundering Steering Group (JMLSG) guidance, ensuring peace of mind that your due diligence is fully AML compliant. We will also store a paperless audit trail for 5 years in a highly secure environment to evidence your compliance, whilst protecting your clients' personal data in line with new Data Protection Regulations.
Paperless audit trail
Reduce costs associated with physical storage, whilst ensuring you are exhibiting good governance with a paperless audit trail stored in a secure environment.
Comprehensive screening
We screen against global PEPs and Sanction databases as standard, helping you to always stay compliant whilst reducing your own company’s exposure to risk.
Bank data verification
You can also enrich and enhance your KYC checks by verifying customer bank data via UK bank records, with access to more bank information than any other UK provider.
The implementation of the new European Union's Fourth Money Laundering Directive (EU4MLD) came into force in June 2017 and affects a number of businesses across industries including:
With an increased focus on on-going monitoring and evidencing sufficient customer due diligence, electronic AML checks are becoming more favourable to businesses in managing their compliance.
Bulk AML Checks
Manage 1000s of customers or bring your historic customer files up to date and in-line with new legislation with Batch AML checks. Provide up to 200,000 customers in a single file.
AML API
Streamline your customer on-boarding and compliance procedures even further with Creditsafe's integration app, making it even easier for your business.
Solicitors, accountants, tax advisers, insolvency practitioners, financial institutions, credit institutions, estate agents, chartered surveyors, trust/service providers, gaming companies and high value dealers with the potential for a business relationship worth over £15,000, such as automotive dealers and jewellers.
The Anti-Money Laundering regulations are governed by 4 Acts: The Proceeds of Crime Act, The Serious Organised Crime and Police Act, The Terrorist Act and the Money Laundering Regulations. Failure to report suspicious activity can carry a criminal sentence and lead to substantial fines from the relevant regulatory body.
In order to prevent fraud and money laundering it is important to verify individuals carrying out financial transactions. Previously documentary evidence was relied on to verify an individual. These may not always be available and they can also be easily forged or altered, therefore electronic verification provides extra security and reduces risk against money laundering and fraud. Electronic verification also removes the need for the customer to be present, this saves time and helps support customer relationship building. The risk of money laundering is reduced as several data sources are called upon to verify the customer rather than just relying on documentary evidence.
You need to keep CDD up-to-date for all your clients. You may have sufficient documentary ID details on your files, but if there has been any subsequent change to their circumstances or risk profile, you should update your CDD. It is advised to review clients’ CDD on a regular basis.