All Your Questions Answered - Veriphy

Frequently Asked Questions

1What do your Clients say?
This is very user friendly – brilliant! I wish I’d discovered this at the start of trading.
Ross Findlater, Business Tax Solutions Ltd

Very clear & simple. Used it, without reading the manual of course, just to give it a try. Excellent service.
Richard Nevill, Nevill Stormont & Co

I have just used Veriphy for the first time. It is excellent – so much easier than chasing old passports and utility bills that are sent by email.
Donald Inglis, Inglis Chartered Accountants, York

The system was extremely easy to set up and we were up and running with it very quickly… It made a refreshing change to be in that position so quickly.
Jon Booth, Booth & Co

Love it – very happy client as well as we can now speed up the process by 4 days for him.
Mark Davis, XL Financial Services Ltd
2Compliance with ML Regulations
Using Veriphy helps towards swift and easy compliance with the Money Laundering Regulations. Our checks are in full accordance with the stipulations of the Joint Money Laundering Steering Group (JMLSG), from which the FCA, ICAEW, CCAB, OFT and Law Society draw guidance.

You may use Veriphy’s AML service to complement or replace existing procedure – the document here details our compliance with the JMLSG stipulations for electronic verification.

There are several advantages to using electronic AML checks:
  • They are quick, simple, and remove the need to manage the procurement, copying and posting of documents. This is attractive to potential clients and is provided at a quantifiable and disbursable cost.
  • They allow you access to information that is either unavailable non-electronically or very time-consuming to research. This includes electoral register, financial, mortality and relocation data. It also crucially includes PEP and Sanctions data, which is increasingly important, and is only available on-line.
  • Electronic checks allow you to validate documents in a way that is simply impossible otherwise. We have detected many fraudulent passports which seem on visual inspection to be authentic.
Using our checks means freedom from the time-consuming tasks of requesting, examining and photocopying passports and other documents. A Veriphy online Electronic Money Laundering Check typically takes less than 3 seconds.

If you need to check people or companies then Veriphy is for you.
3Can we integrate with Veriphy?
Yes, some of our clients prefer to integrate Veriphy checks into their own software. Veriphy offers secure web services that integrate with ease. The system presents the results in industry standard XML format.

Once again, there is no charge for doing this – we believe that you should only ever pay for the checks you do and nothing more.

Please do get in touch if you would like further details
4What's the catch?
There isn’t one. Veriphy is designed to be simple, flexible and friendly. There is no sign-up charge, subscription or minimum usage. All that we ask is that you be registered under the Data Protection Act. We know you are a professional, so we treat you like one!
5Who is behind Veriphy?
Veriphy was created by a team of professionals with many years experience covering the Bank and Building Society senior management, Commercial Law, Marketing and Insurance sectors. They had all encountered the numerous problems that revolve around the legislative and business process needed to verify information provided by clients and customers.

By working with a team of high level technology and programming consultants, we have resolved those problems.

Working in collaboration we have created a simple to use suite of various checks that draw data from a wide range of sources so you don’t need to. We can then present the results to you in a timely fashion in the format you require for your internal systems.
6Can I still photocopy documents?
Photocopying documents is still acceptable as long as you also ‘have policies and procedures that determine whether a customer is a Politically Exposed Persons’ (PEP)

Our system checks this register along with the Bank of England Sanctions list and OFAC.

Please also bear in mind that there are many forged/altered documents in circulation.
7Where can I find out more about AML regulations?
HMRC has published a comprehensive guide to the new regulations which can be found at HMRC – please remember that this guidance note may be subject to change and should be checked regularly.
8Do I need a Client's permission?
You have a duty to inform a client that an anti-money laundering check will take place. However, you do not need their permission as it is a legal obligation that you do one and they are not allowed to refuse. Credit checks require the permission of the subject.
9How safe is an electronic money laundering check?
Electronic Money Laundering checks are extremely safe. The reason is that they check a huge range of databases that cannot be fooled and then map the results against a points system.

For example ML Veriphy also checks the births and death registers so that identities of deceased people cannot be stolen. This is just one example of why the system is safer than traditional checks.

The passport office readily admits that it has issued tens of thousands of passports that it knows came from fraudulent applications – so is it really worth photocopying one?
10Is the data secure?
All transmissions to and from our servers are encrypted using GlobalSign certificates. GlobalSign is the world’s leading organisation in the field of online security.
11Does the Veriphy check satisfy the Enhances Due Diligence requirements?
The Veriphy checks provide you with multiple data sources for the checks and these include the Sanctions Lists for the UK and the USA, along with a check on the Politically Exposed Persons file. This combination of checks satisfies the Enhanced Due Diligence requirements and, for completeness, this comprehensive review is carried out on all checks you undertake.
12How do I know what has been checked?
The report which you get back from Veriphy will detail those checks which have been successfully carried out and also those where no confirmation has been possible. It will also confirm whether or not your client has passed the check.
13Will undertaking a check on Client's make me fully compliant?
Undertaking compliant money laundering checks is a critical part of satisfying your regulatory responsibilities.

However, you must also have:
  • A Money Laundering Policy document
  • Appointed a Money Laundering Reporting Officer
  • Undertaken training of all staff
  • Retained records of money laundering checks for 5 years
Veriphy, in conjunction with our experts in this field, can provide you with the necessary policy and training.
14Do I need to be registered under the Data Protection Act?
Yes, as a user of our services you are required to be registered under the Act because you will be processing and accessing personal information. Notification is extremely simple and can be done at ICO Government Website.
15Fourth Anti-Money Laundering directive
The Fourth Anti-Money Laundering directive was adopted by the EU on the 25th of June 2015 with member states being given a two-year window for implementation. There is little that has changed within the Veriphy AML process with the exception of the expansion of the Politically Exposed Person (PEP) lists to include domestic PEP’s.

Veriphy already checks against domestic PEP’s so our clients are right up to date.

There is not and never has been a need for continuous PEP screening against clients.

16Discussing AML results with Clients

Do not discuss the results of an AML check with a client as you may be breaking the law by doing so.

Under the Proceeds of Crime Act you could be ‘tipping off’ and/or ‘prejudicing an investigation.’

Contact your Money Laundering Reporting Officer (MLRO) to discuss the report or contact us at
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