ANTI -MONEY LAUNDERING
The risks for lawyers of being involved in money laundering or failing to comply with anti money laundering (AML) compliance obligations are significant, both financially and reputational.
We use GB Group’s ID verification service – ID3Global for anti money laundering and identity check services because they use the widest range of international identity data that is currently available in the market.
Anti Money Laundering Checks
The AML checks conform to UK and international AML and KYC standards and legislation. The following databases are used:
JMLSG Guidelines for Electronic AML Verification.
The Joint Money Laundering Steering Group sets out comprehensive guidelines for practitioners to follow to conform to UK AML Legislation.
We have produced a summary of the relevant segments of the regulations that are applicable for electronic AML verification and how AML checks through Searchpoint and in particular our service partner GBGroup meets them.
Click here to download the document JMLSG Guidelines
Understanding AML Results
Simple and Clear Decision with Points Score.
- Results are based on points scored where personal data is matched in various databases.
- Where enough data is matched the result will be a Pass.
- Where some data is matched then the result will be a Refer.
- If a negative data source is matched or a document is invalid then the result will be Fail.
AML Checks - International
UK AML Checks
COMPANY SEARCHES with full Mem & Arts
HOME BUYER PROTECT INSURANCE ~ Abortive Transaction Cover
Bogus Firms ~ Bank Account Verification
Source Account Verification
Part 2 Lender's Handbook Compliance
KYC - Identity Checks
CHANCEL INSURANCE~ £1m Indemnity,