Anti-Money Laundering
AML
A rigorous customer screening process is critical to full AML and KYC compliance. With IDV + AML, we combine our award winning identity verification solution with a robust series of checks against real-time global sanction lists, warnings, and proprietary databases of politically exposed persons, ensuring your end user is both identified and safe to transact with.
See here for more information about the AML API endpoint.
Coverage Types
Type | Description | Sample Lists | Update Cadence |
---|---|---|---|
Sanctions | List of persons or entities who are prohibited from using a financial system by government action | OFAC UN Consolidated EU Consolidated 125+ additional sanction lists | Every 3 to 15 minutes |
Watchlists | Issued by law enforcement or other regulatory bodies targeting criminal or non- compliant behavior | Coverage includes over 1,000 global watchlists | Every 3 to 15 minutes |
Politically Exposed Persons (PEP) | Flags potential government officials for further review and diligence | Proprietary database | Every 24 Hours |
Politically Exposed Persons (PEP) Classification
We have four classes of PEP, each based on FATF guidelines.
Listed PEPs can also be Relatives and Close Associates (RCAs), which include spouses, partners and children, to give a more accurate insight into the risk of who you’re doing business with.
Updated 12 months ago