Anti-Money Laundering (AML)
Flexible, uncomplicated, user friendly solutions for businesses of all sizesComplying with Money Laundering Regulations and the Counter Terrorism Act means having stringent procedures and controls in place to protect your business from financial crime. Organisations can face significant reputational damage, very large fines, sanctions, asset seisure and ultimately closure if adequate controls do not exist. Every business needs to comply with Anti-Money Laundering (AML) regulations. iid can help you to be confident that your business is managing this risk by providing robust services and process advice surrounding Know Your Customer (KYC), Anti-Money Laundering (AML) and Enhanced Due Diligence (EDD).
When forming a new business relationship, organisations must perform Know Your Customer (KYC) checks to ensure they know who they are dealing with. By utilising iidís innovative solutions you will have access to extensive data ensuring full compliance.
Retrospective & On-going AML Sanction Screening:
Once initial KYC checks have been conducted, many organisations then fail to comply with the current requirement to carry out regular periodic checks against global sanctions. Global Sanctions are ever changing and updates to official lists are frequently released. Although individuals/ businesses may pass the Sanction check at the initial KYC stage of a business relationship, it is imperative that regular sanctions screening is carried out to conform to current requirements.
†At iid we can provide you with an uncomplicated and cost effective solution that will satisfy all of your on-going sanctions screening requirements. The service is customised to meet your organisationís specific needs depending on compliance risk and budget.
Using current and accuarate Global Sanctions and PEP lists, iid will screen, monitor and alert you if any of your customers or employees need reviewing . We also provide real time reporting tools that allow you to investigate and really know the subject of the alert.
Confused? Here at iid we are aware that at times the current rules and guidelines can be quite daunting. Our team of experts have years of experience in this area with an extensive knowledge of this subject and can offer guidance of good and bad practice. If you have any questions or need any advice please call iid today where one our friendly team will be happy to assist you.