Q&A Series – Club and Society Identification Procedure
March 6, 2019A Mandate for Regtech: The 5th Anti-Money Laundering Directive
September 3, 2019A Guide to Enhance your AML Compliance Knowledge, Methodology and Procedure.
What is Money Laundering?
- Handling the proceeds of crime
- Being directly involved with criminal or terrorist property
- Entering into arrangements to facilitate the laundering of criminal or terrorist property
- Investing the proceeds of crime into other financial products, property purchase or other assets
What is AML?
Avoid the Hurt of Non-Compliance
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
- The Proceeds of Crime Act 2002
- The UK's Terrorism Legislation
When to Check?
- When a new customer is acquired
- On purchasers as well as vendors of property
- When an occasional transaction is carried out
- If there is suspicion of money laundering or terrorist financing
- If there are doubts about previously obtained customer information
- When a risk assessment on an individual customer deems it necessary
Veriphy Comes to the Rescue
- Customer Due Diligence
- Monitoring and Controls
- Disclosure of Suspicious Activity
- Record Keeping
- Training
- 24/7 access to our powerful full-suite checking platform including our online AML checks
- 24/7 access to our comprehensive online CPD-certified AML training module
- A bespoke AML policy document covering your firm’s obligations and practice
With Veriphy in place, you will have to hand the perfect way to balance efficient, friendly client onboarding, with the vital need to avoid costly and possibly terminal regulatory pitfalls.
Simplifying the complexity of compliance for a fast, robust onboarding experience for your clients.
Protect your Business with our AML Compliance Solutions