AML/CTF Compliance
Our AML/CTF solution ensures comprehensive AUSTRAC compliance by integrating extensive data sources, including verified Australian government-approved databases. We facilitate effective risk management and fraud detection through ongoing screening processes, as well as performing Enhanced Customer Due Diligence (ECDD) and Customer Due Diligence (CDD). These integrated measures provide robust protection against financial crimes, keeping your organisation compliant and secure.
Trusted & Compliant AML/CTF Screening
Compliant AML/CTF Data Sources
Our AML/CTF solution employs an expansive range of data sources, including Politically Exposed Persons (PEPs), sanctions lists, and other verified Australian government approved databases. This approach significantly minimises the risk exposure from high-risk users by ensuring thorough vetting against a global repository of identities, enhancing the security and compliance posture of businesses.
For AUSTRAC Reporting Entities
Tailored specifically for a variety of sectors such as financial services, bullion trading, and gambling, our solution offers robust identity verification processes. It includes efficient Know Your Customer (KYC) checks and adverse background checks, ensuring a comprehensive view of the customer. This sector-specific design enhances regulatory compliance while streamlining customer onboarding and risk assessment processes.
Customer Due Diligence (CDD)
Our platform simplifies the customer due diligence process, making it easier for businesses to comply with regulatory requirements. By integrating advanced verification and risk assessment tools, companies can conduct due diligence more efficiently, ensuring a high level of compliance with minimal effort. By leveraging our unique KYC data, your organisation will have the ability to perform due diligence checks against trusted and verified sources.
Ease of Use & Automation
Designed with user experience in mind, our solution features simple, automated processes for document verification and customer screening. We remove the complexities of source rules, source selections and help the customer screen against the right data sources first time. This ease of use reduces the operational burden on businesses, allowing them to focus on core activities while ensuring compliance with AML/CTF regulations through automated, reliable processes.
Find out how we can help your organisation
Document Verification
Utilise our system for instant, accurate verification of Australian identity documents, such as, but not limited to;
- Driver’s Licenses
- Passport
- Birth Certificates and various other Government issued documents
Fast and secure Document Authenticity that is available in both SaaS and API.
Document Verification Service (DVS)
Identity Data Verification
Strengthen your defences against identity fraud while meeting AML and CTF requirements with our verification solution.
Identity Data Verification
WatchEye
WatchEye is an advanced monitoring and alert system designed to keep your business secure and compliant. By integrating ongoing surveillance of various critical data points, WatchEye ensures that you are instantly notified of any changes or suspicious activities, allowing you to take prompt and effective action.
WatchEyeCommon Questions About Our AML/CTF Solution
What is AML/CTF compliance, and why is it important?
AML (Anti-Money Laundering) and CTF (Counter-Terrorism Financing) compliance involves adhering to laws and regulations aimed at preventing the illegal movement of money and funding of terrorist activities. Compliance is crucial for maintaining the integrity of the financial system and avoiding severe legal penalties.
How does your AML/CTF solution facilitate AUSTRAC compliance?
The solution is designed to meet AUSTRAC’s regulatory requirements by employing comprehensive data sources for risk management and enabling effective detection measures. It helps businesses conduct thorough vetting and monitoring activities that are mandated by AUSTRAC.
What types of data sources are utilised in your AML/CTF solution?
The AML/CTF solution uses a wide range of data sources, including lists of Politically Exposed Persons (PEPs), sanctions lists, and other government-verified databases, ensuring that businesses are cross-referencing customer information with reliable and up-to-date records.
Can you explain how the screening against PEPs and sanctions lists enhances security?
Screening against PEPs and sanctions lists is a critical security measure. It helps identify individuals who may pose a higher risk due to their political influence or involvement in activities that are under sanctions. This process significantly reduces the likelihood of doing business with entities that could expose a firm to legal or reputational harm.
What sectors are your AML/CTF solutions tailored for, and how do they benefit?
The AML/CTF solutions are specifically tailored for sectors such as financial services, bullion trading, and gambling. They benefit these sectors by providing targeted identity verification and risk assessment processes that meet sector-specific regulatory requirements, thereby enhancing compliance and operational efficiency.
How do your identity verification processes work, and what makes them robust?
The identity verification processes incorporate Know Your Customer (KYC) checks and background assessments that are adverse. This robust approach ensures a comprehensive review of a customer’s identity by verifying personal details against multiple authoritative and trusted sources, such as government records, together with expansive supporting data sources.
What is involved in the customer due diligence process provided by your platform?
The customer due diligence process involves evaluating customers’ risk profiles through extensive verification measures. Our solutions enable businesses to assess and monitor customer information, perform identity checks, and screen against PEPs and sanctions lists.
How does your platform ensure efficiency in regulatory compliance?
Efficiency is achieved through the integration of advanced tools that automate the due diligence and verification processes. This automation reduces manual workload, streamlines the compliance workflow, and ensures that businesses can maintain high compliance standards with minimal effort. We offer both SaaS and API access.
What features are included in your solution to enhance the user experience?
The solution offers features such as automated document verification, streamlined customer screening, and a user-friendly interface. These features are designed to simplify the compliance process for businesses, allowing them to focus on core operations without compromising on compliance standards.
How do the automated processes in your solution aid in maintaining AML/CTF compliance?
Automation aids in maintaining AML/CTF compliance by providing a consistent and reliable approach to monitoring and reporting. Automated processes ensure that checks and screenings are carried out promptly and accurately, reducing the risk of human error and increasing the efficiency of compliance operations.
Some of our other Use Cases
Customer Onboarding
Social Media Verification
Financial Crime Management
Transaction Monitoring
Profile Enrichment
Ready to see our AML/CTF Solution in action?
"*" indicates required fields
"*" indicates required fields