Anti-money laundering checks for Solicitors
The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 set out the legal services that could be targeted by money launderers. The highest risk areas for Solicitors are those involving:
- Conveyancing transactions
- Handling client money
- Creating and managing trusts and company structures.
Law firms that are subject to the money laundering regulations must carry out client due diligence including ID verification and keep a record of this for at least five years.
We provide Anti-money laundering checks for Solicitors that are compliant, cost effective and easy to administer. There’s no upfront cost or contract, just pay as you go AML checks undertaken by your clients on their own mobile phone saving you time and money.
Verify a client’s ID instantly
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 risk including Credit Data, International PEPs and Sanctions Lists, Passport and European ID Cards, Electoral Roll, plus household and utility bills.
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.
Our solution makes the process simple, fast and low cost with pay as you go AML checks undertaken within your branded mobile app.
There is no set up fee to brand the app, nor is there a minimum volume or term.
Through your app clients can verify their ID in three steps:
1. Client takes a photo of their ID on their mobile phone, which is automatically checked for authenticity.
2. The client undertakes a liveness test, which is compared to the image on the ID.
3. The ID ownership is verified biometrically and you receive the completed AML report.
If you would like to arrange a no obligation demonstration please call 01628 260 222 or email [email protected]
