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ANTI-MONEY LAUNDERING AML and KYC solutions to meet your compliance obligations

Fast, effective, and trustworthy due diligence reports to minimise risk and protect your business

Anti-Money Laundering Services

identeco's Anti-Money Laundering [AML] and Know Your Customer [KYC] checks provide accurate and structured information to protect your business from financial crime. identeco's AML service promotes best practice.

Money Laundering is the act of a third party or organisation reinvesting money from an illegal activity into another financial transaction or business to 'clean' the funds. The Fifth Anti-Money Laundering Directive (5AMLD) is the latest directive in a process driven by intergovernmental lawmakers to tackle the issues surrounding money laundering.

The scope of businesses required to run AML and KYC checks is ever widening but is predominantly businesses that work within the financial arena and manage large transactions of money, trading in high-cost products. Those that fall into the legislation include banking, payments, lending, insurance, crypto, investment, gambling, high-risk corporates, solicitors, accountants, tax advisers, insolvency practitioners, estate agents, letting agents and surveyors. Our AML services are:

AML standard screening

2 x full checks against data, PEP and sanctions register

AML enhanced screening

2 x full checks against data, PEP and sanctions register, electoral screening, credit data, and mortality register

Know Your Customer ID check (KYC)

Address and name validation and anti-fraud check

How AML and KYC screening works

To understand the level of reporting that your organisation needs, let's clear up the difference between Anti-Money Laundering and Know Your Customer checks.

Anti-Money Laundering is an umbrella term for the checks that a business must implement to ascertain that the third party is acting legitimately in the transfer of money. Know Your Customer is one of the components that can be applied to verify a client's identity. It is a basic - but reliable - check of third-party identity.

For more detailed scrutiny, we offer two AML services - standard and enhanced.

Our three options of AML and KYC reporting are all priced competitively for our Business Support Toolkit subscribers and supplied in accordance with JMLSG (Joint Money Laundering Steering Group) guidance.

In line with JMLSG guidelines, identeco must verify that your business is required to conduct AML screening. Please complete the intermediary form via our secure online portal to start verification.

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