360^o Compliance

AML Search has been at the forefront of electronic AML Customer Due Diligence (CDD) for over 10 years, our user-friendly, robust platform has helped over 8,000 firms and 18,000 users reduce the time and cost of carrying out compliant CDD for over 1.6 million clients.

In June 2017 we released AML Search v4, which builds upon AML Search v2's robust data analytics to include fully automated Risk Assessments, Compliance Reporting, documentary evidence management, on-going monitoring and automated record keeping.

AML Search v4 represents a leap forwards in the streamlining and simplifying of a firms CDD procedures which dramatically reduces both the time and cost of Anti-Money Laundering regulatory compliance.

Risk Assessments

Regulations make it mandatory for firms to carry out Risk Assessments on their Clients as a part of their Client Due Diligence, we recognise that this is both a time consuming and expensive process that requires specialist training.

AML Search v4 automates Customer Due Diligence Risk Assessments to enable your users to simply and quickly enter Client data, include documentary evidence and carry out a Simplified or Enhanced Due Diligence Risk Assessment in a few minutes.

Our unique automated Risk Assessments mean that you no longer have to manually risk assess your clients, dramatically reducing the time, risk and cost of demonstrating your compliance.

Personal AML Risk Assessments can include independent data verification including^*;

• Multiple Hard copy documentary evidence (including Passports & Driving Licenses)
• Multiple confirmations of Identity
• Multiple confirmation of Address
• Multiple Date of Birth matching
• Multiple Alert Sources & Financial Sanctions Files
• PEP (Politically Exposed Persons List)
• CIFAS (UK Fraud Prevention Service)
• Full Electoral Roll
• Bankruptcy Records
• County Court Judgements
• Deceased checks
• Full Financial Records (Shares Data) checks
• Specially Designated Nationals File
• UK, European and US Sanctions Lists
• Financial Times Shares Index

Non-Personal AML Risk Assessments can include independent data verification including^*;

• Multiple Hard copy documentary evidence
• Full Company name as registered
• Registration Number
• Registered Office
• Business Address
• National and International Direct and Ultimate Parent(s)
• Name, Address and Date of Birth of all Directors (or equivalent)
• Issued Share Capital
• Identification of Directors and Officers
• Solvency Status
• Identification of Beneficial Shareholders (25%+)
• Identification of Non-Beneficial Shareholder Information (less than 25%)
• Subsidiaries and Associated Companies
• Multiple Alert Sources & Financial Sanctions Files
• Optional Real-time relationship screening of Officers
• Optional Real-time relationship screening of Shareholders
• Optional Real-time relationship screening of parents and subsidiaries

_* Subject to Risk Assessment criteria and data availability

Quick Implementation

Its a simple, straightforward process to implement AML Search v4 within your firm.

You can opt to use our range of pre-defined Risk Assessments or easily define your own criteria. Firms can implement AML Search quickly and easily to as many locations and users as is necessary, and our pay-as-you-use pricing model means there are no seat licenses or up front costs.

The CDD Record

AML Search v4 introduces a unified view of your Client CDD. Both Individual (Personal) and Organisations (Non-Personal) CDD records are contained in one fully searchable view.

The CDD record for a Client contains your Risk Assessments, Client Data, Documentary Evidence, Client Relationships - which aids in your conflict checking and provides a complete audit trail, making it easy to evidence your regulatory compliance.

Regulatory Compliance

AML Search v4 has been designed to meet and exceed Anti-Money Laundering compliance requirements including;

• Fifth European Money Laundering Directive (EU 5MLD) (January 2020)
• Fourth European Money Laundering Directive (EU 4MLD) (June 2017)
• United Kingdom Money Laundering Regulations/Laws
• Joint Money Laundering Steering Group (JMLSG)
• United States Patriot Act
• Sarbanes–Oxley
• The Law Society
• The Solicitors Regulatory Authority (SRA)
• Financial Action Task Force (FATF)
• Financial Conduct Authority (FCA)
• International Bar Association (IBA)
• Council for Licensed Conveyancers (CLC)
• Council of Mortgage Lenders (CML)
• Institute of Financial Accountants (IFA)
• Association of Chartered Certified Accountants (ACA)
• Institute of Chartered Accountants in England and Wales (ICAEW)

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