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RFA Introduces AML

Nov 25, 2016 Red Flag Alert Updated On: October 10, 2023
RFA Introduces AML

Anti-Money Laundering (AML) is a huge problem to UK plc. The National Crime Agency estimates that hundreds of billions of pounds are laundered through UK banks each year, and the FCA have handed out fines running into millions for the failure to have robust AML processes in place.

Accurate and efficient checks and due diligence are essential for all businesses that must comply with anti-money laundering legislation. The burden of proof is on the business to show that they undertook all reasonable checks to identify potential money laundering activity.

Our Anti-Money Laundering Service has been developed in partnership with the GB Group, acknowledged market leaders in this sector. A team of field experts in professional services, including Begbies Traynor as well as the GB Group, were involved in its creation and this allows us to offer a service with unparalleled benefits for our clients.

Every AML check carried out needs to be both accurate and quick. Our service provides convenient, instant electronic verification without the need to collect and check documents such as passports and driving licences. We have also made it extremely simple to access through our cutting-edge, easy to integrate API, or alternatively via a web-based portal.

The real-time responses provided by our system instantly give you the full picture. Checks can also be tailored to reflect the precise requirements of your business.

We can provide everything from the most basic level of identity check, to comprehensive AML, enhanced due diligence including worldwide sanctions, and PEP monitoring. We have also partnered with sophisticated identity confirmation service HooYu for high-level, comprehensive and far-reaching identity confirmation where required. HooYu’s platform innovatively combines digital footprint, analysis, document authentication, identity scoring and facial biometrics. It looks beyond standard identification processes and will expand to incorporate what it describes as ‘universal tokens of identity’, such as social media and digital presence, as verification for identity.

We recognise the need for cost-effectiveness and have worked to ensure our AML service is suitable for most budgets without compromising on the quality and rigorous nature of the checks. There are no set-up fees and we typically pass more customers first time, helping to reduce your operating costs as there is less need for further verification using a slower, more manually intensive, process.

Our service meets the standards outlined in the Joint Money Laundering Steering Group (JMLSG) guidelines and our checks will ensure your business is compliant with them too.

Our Anti-Money Laundering Service will:

  • Reduce the costs of identity verification
  • Effectively combat financial fraud
  • Cut the administrative and operational costs of running your business
  • Deliver unbeatable match rates
  • Fast first-time passing

If you want to find out more about our Anti-Money Laundering Service, please contact us directly on: or by telephone on 0344 412 6699.

Published by Red Flag Alert November 25, 2016

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