Callcredit Blog

Anti-money laundering on the move

Credit Risk & Affordability Fraud & Verification

shutterstock_125560343Embracing technology could mean increasing productivity and keeping your business competitive

Technology has changed considerably over the years from the growth of the internet and the rise of smartphones to the hype around cloud computing.  It is these technologies that have helped businesses to continue to evolve and grow – enabling them to keep their business on the move with their devices. There was a time if you were on a train it meant you were out of the office. Today you can be ‘at work’ whenever and wherever you choose to be.

Driven by the growing use of smartphones and tablets, mobile business is now really taking off and embracing technology could mean the difference between keeping your business competitive and losing customers. For those working in sectors where they need to know who they are dealing with, embracing the latest technology such as online identity verification is of growing importance.

Have you noticed in todays world, that when you are sitting in a café people are working around you? With an online ID verification solution on your device you can check clients quickly and easily and store it as a PDF for up to 30 days, no need to rush back to the office to complete paperwork.

Before accepting a new customer or signing them up to a new product, adequate customer due diligence checks need to be carried out to comply with money laundering regulations, proceeds of crime and terrorism regulations and the Financial Services and Markets Act 2000. With significant financial penalties and even prison terms for non-compliance, proof of verification is required, which can be a laborious task when using hard copy documentation, and with fraudulent ID documents presenting an increasing issue, the risks to your business are high.

Electronic verification can help businesses save time and money whilst also giving the peace of mind that the checks are robust.

If you would like more information about electronic verification please feel free to email me on

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Authors: Emma Jouhin & Jenna Douglas

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