Anti Money Laundering Checks for Law Firms
Taking a balanced approach to AML
AML Can Be Complex
Compliance with money laundering obligations is one of the greatest challenges for the legal sector in the UK today.
Law firms must comply with due diligence requirements when dealing with clients and transactions. Due diligence requirements can be complex and will vary depending on the type and nature of the client, the service provided, and the jurisdiction involved. This can be achieved by obtaining original documentation, although it can take time to arrange a meeting with your client or paying for important documents through the post. Where there are multiple parties it can be difficult.
Refine Your Approach
Working with Experian and a selection of other partners, we provide a range of AML checks that offer the precise level of search you need to combat the risks facing your business. Through our platform you gain access to a range of anti money laundering checks to help you comply with regulations:
- Electronic ID verification
- Identity document, photo and proof of address capture
- Screening against regulatory watchlists and PEPs
- Adverse media screening
- Company verification including corporate tree
Simplify your AML
Our solution can simplify your customer due diligence processes further by integrating directly into your own customer management system, for a seamless approach. Without the need to rekey data you can gather all required Know You Customer documentation electronically and in a fraction of the time.
Advise and Assist
If you have more complex requirements where our standard checks don’t cover all requirements, we can provide advice on how our services can be tailored to your needs. All delivered via our web portal.
Where there are historic short falls in customer due diligence or a need to undertake a periodic refresh, our team is available to help undertake remediation exercises and bring your AML records up to date.