All Your Questions Answered - Veriphy

Frequently Asked Questions

1Is Veriphy recognised by the regulators?
With the introduction of the 5th EU Money Laundering Directive, electronic verification has been encouraged strongly and endorsed by regulators and professional bodies.

Whilst regulators wish to remain impartial, Veriphy has been recognised by the Joint Money Laundering Steering Group (JMLSG) - the leader for Money Laundering assistance from which the FCA, ICAEW, CCAB, OFT and Law Society draw guidance.
2Where does our data come from?
Our aim is to aggregate best of breed data and make it available with maximum flexibility. We source our data from the best possible suppliers & market leaders - LexisNexis, Equifax, Experian, BT, Royal Mail, HM Treasury, OFAC, Creditsafe, GBG, LawyerChecker and GlobalX.

Our databases are also regularly updated in order to ensure we have access to the most in-depth and broadest data sources available.
3Is 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.
4Does Veriphy provide a pay-as-you-go service?
We aim to bring flexibility to compliance in order to marry regulatory compliance with commercial need. This means we charge our clients only for the checks they do.

No checks - no charge.

In addition:
  • Registration is free - no set up fees.
  • No annual licence fees
  • No over-priced search packages
  • No contract term
  • No restrictive minimum or maximum usage caps
  • 24/7 access to the full suite of AML, People & Company checks
  • Free complimentary email & telephone support


We invoice monthly in arrears with 30-days terms. Just to reiterate you will not be required to subscribe to any search packages nor be required to meet a minimum usage quota.
5How does Veriphy differ from the competition?
Power, flexibility & transparency.

We pride ourselves on the quality & range of our verification data sources. Our ability to draw from a multitude of data points has allowed us to formulate a comprehensive suite of people & company checks in order to satisfy your AML, KYC, DBS & regulatory compliance needs all in one place.

We are the only AML & Compliance platform that can do this whilst providing maximum flexibility. Our unique, pay-per-check model allows us to deliver robust yet commercially flexible compliance to thousands of SMEs & large corporate organisations with ease.

Simply - we deliver top quality compliance that allows our users to align costs with usage to help control their risk management expenditure.
6What 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
7What are the benefits of Electronic Verification?
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.

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 the full 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.

8How much does Veriphy cost?
We believe in transparent pricing with no hidden extras. The only thing you will ever pay for is the checks you carry out via our system.

Our pricing reflects the quality of our data and our commitment to never restrict our users via an expensive subscription contract.

However, we do offer competitive volume reduction rates for our AML checks upon request. Please contact our sales team for a bespoke quote.
9Who 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.
10Can 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 support@veriphy.com
11Do I need to be registered with the Information Commissioner's Office?
Yes, as a user of our services you are required to be registered with the ICO because you will be processing and accessing personal information. Registering is extremely simple and can be done at the ICO Government Website.

Please include your data protection reference when registering with Veriphy. Legitimate DPR numbers always begin with a Z.
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