Save time and money on your anti-money laundering checks using e-verification*

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 you save time and money whilst also giving you peace of mind that the checks are as watertight as possible. It also enables you to check PEPs and Sanctions data which is a key criteria of the regulations, as it is a criminal offence to deal with individuals or organisations that are subject to HM Treasury Sanctions.

CallML is an online ID verification tool which helps your employees to better detect suspect investments. It works by accessing an array of independent data sources to carry out a rapid and reliable identity check. These include checks against the Electoral Register (also known as the Full Electoral Register) as well as personal credit account performance data shared between financial institutions.

Our best practice solutions access a full range of positive, corroborative, negative and value added data sources to help identify whether your client is:
  • A beneficial owner
  • A Politically Exposed Person (PEP) - Domestically or Internationally
  • Presenting a Stolen Passport
  • Listed on CIFAS for known Identity and Impersonation Fraud
  • Subject to HM Treasury Sanctions
  • On the Specially Designated Nationals List (OFAC)
  • Known as Deceased
  • Subject to CCJs or Personal Insolvencies
  • Plus many more...

CallML can be used to check customers individually or ‘en masse’ by uploading a file of existing customers for example. Within seconds, the system provides a clear ‘pass’ or ‘refer’ decision, rather than having to wait days. For customers, it also reduces the cost, risk and hassle of sending original ID documents by post.

To add an extra level of confidence, users can capture and verify paper documents to support the ID check. The system will also highlight the individual’s date of birth if it appears within the data we hold.

*The use of e-verification is recognised by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA)

To find out more about our solutions for this sector, please complete our online business enquiry form and one of our experts will contact you shortly.

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