Anti-Money Laundering (AML)

Compliance with AML legislation is a high priority for solicitors and other legal professionals, auditors and estate agents.  Under the Money Laundering Regulations 2007, you need to verify the identity of all clients as part of the Customer Due Diligence process.  Failure to comply poses many risks including criminal and disciplinary sanctions, civil action and damage to reputation.  Verifying the identity of your new client can be hard work when you don’t have the right information.  Finding out if they are a Politically Exposed Person (PEP) is a particular challenge.

As well as verifying the identity of customers quickly and with confidence, AML Search:

  • allows you to search on:
    • an individual (Personal AML Search) 
    • foreign clients (International AML Search) 
    • public, private limited and unincorporated companies, as well as partnerships and charities (Company AML Search)
  • provides a complete customer due diligence process offering full compliance with Government legislation, including the 2007 Money Laundering Regulations, JMLSG, Law Society, CLC, CML and other guidelines
  • uses a ‘Risk Based Approach’, with flexibility to define specific Risk Profiles based on your transaction or business types
  • accesses a comprehensive range of independent data sources, and combines positive and negative data responses
  • is simple and easy to use, requiring no specialist training
  • delivers a straightforward ‘pass’ or ‘refer’ result in seconds, allowing you to reach a decision instantly
  • maintains a full online electronic audit trail
  • is competitively priced on a ‘pay as you go’ basis, with no registration fees or minimum volumes

You can also conduct a simple ID Check. This is designed for firms that do not believe that the type of business they are conducting with a client requires a full AML Search to be carried out. Firms are using this search for business matters including remortgaging where the client is deemed to have been certified by a lender prior to the firm working with the client. Again this is the choice of the firm based upon their own AML Risk Procedures as set by their MLRO.

Need an AML Search?  If you’re already an STL customer, please log in at the top of this page.  To register for AML, please click here.

Need some help?  Please contact us.