"With the ever-increasing presence and risk of forged identity documents the introduction of electronic verification has brought with it confidence and certainty to AML compliance."
SmartAML is able to electronically verify all documents remotely, with the same capabilities as the full SmartSearch verification platform. This means users can carry out instant AML checks when they are in a client’s home or office and receive the results to their phone or tablet in seconds.
The app reads the name, full address and date of birth from the driving license. SmartAML then validates the information against the credit reference databases and automatically screens the person against worldwide sanction and PEP watch-lists which contain around 2.5 million data subjects.
The results are delivered back to the user in seconds with a green tick or a red cross. The search outcome details are then automatically uploaded into the full SmartSearch system back at the office for any occasions that enhanced due diligence needs to be performed.
The new client’s customer record will then be monitored either daily, weekly or monthly dependent on the client’s risk policies, for any changes to sanction and PEP watch-lists.
If the individual that the user wants to check has no driving license, they can input their name and address into their mobile device for the same checks to be carried out.
Martin Cheek, managing director at SmartSearch, said: “With the ever-increasing presence and risk of forged identity documents the introduction of electronic verification has brought with it confidence and certainty to AML compliance.
“We have been offering clients our award-winning automated system for seven years now, and are really pleased to be able to take our technology to the next level with SmartAML.
“By enabling our clients to perform exactly the same comprehensive checks on their customers whether they are in the office or out in the marketplace, we have given them much more freedom and flexibility, so they can concentrate on spending more time serving their clients rather than being caught up in compliance red tape.”
