Anti Money Laundering Solutions

The Money Laundering Regulations 2007 mandate identity verification whenever FSA regulated firms “establish a business relationship” with a new customer.

So what does identity verification actually entail?

Section 5: Meaning of customer due diligence measures

• “identifying the customer and verifying the customers identity”
• Using “documents, data or information”
• From “a reliable and independent source”

You can download the full text of the Money Laundering Regulations 2007 here.

And how does ID verification work?

Customer details such as name, address, date of birth and other customer characteristics are tested against our ID databases in less than a second. 

Our ID check solution called 192 Account-ID automatically produces a report to show that customer identity has been proved.  Or otherwise!

You can also dispose with those mountains of paper by taking advantage of our electronic audit trail.