Powerful solutions in the fight against money laundering (AML)

Dynamic, comprehensive AML services to secure your platform and the payments ecosystem

Why does AML matter?

A complex criminal process, money laundering disguises illegally gained funds to make them appear legitimate. Money laundering has far-reaching implications for society, including corruption, economic instability and a loss of trust in the integrity of financial institutions.

Efforts to combat money laundering in banking and finance involve a range of approaches including mandated AML & know-your-customer (KYC) policies.

Money laundering is a prevalent and global danger

In one year, the estimated amount of money laundered globally is 2-5% of global GDP, or $800 billion to $2 trillion.
Less than 1% of global money laundering is currently seized and frozen.
In 2022, financial institutions worldwide faced significant penalties, totaling nearly $5 billion, from reported AML events, making it one of the largest cumulative fines in history.
Criminal money laundering syndicates created an underground financial system to process transactions and payments separately and are invisible to oversight and legal economic systems.

Enhance your AML efforts

Our solutions assist financial institutions in their fight against money laundering by denying bad actors access to their platform.

Fraud detection at account opening

Account opening solutions verify the legitimacy of potential customers while they’re in the act of account opening. By cross-referencing customer identity data against global model-ready data, key customer identity information can be verified, enabling businesses to prevent fraudsters from creating an account and engaging in money laundering activities.

Through real-time insights into users and the ability to detect suspicious identity data, our Account Opening API creates a first line of defense to aid your AML efforts.

Risk assessment and management

The manual review process that many teams and financial institutions face is a time-consuming pain point. Tools that streamline the risk assessment process help to increase team productivity and reduce costs.

We offer a unified platform that provides actionable identity data and insights. With this comprehensive view of a user’s digital identity, reviewers can quickly verify the customer and analyze and compare digital behaviors, making the review process more efficient and accurate.

Transaction monitoring

Our transaction risk solution provides risk scores for online transactions in real-time, with access to identity data points and predictive insights. Risk scores assist companies in determining the legitimacy of transactions and making educated decisions about users and preventing money laundering activities.

The real-time assessment allows institutions to react immediately and create timely reports for regulatory authorities. Transaction monitoring also ensures compliance with AML regulations and helps stop laundered money from entering the payments ecosystem.

Learn more about AML

Blog

Five steps to AML risk assessment

Explore the five steps involved in performing an effective AML risk assessment and the importance of implementing them to ensure compliance and protect your financial institution or business from money laundering risks.

Blog

Five AML measures that help counter synthetic identity fraud

Discover five powerful AML measures that help combat synthetic identity fraud. Gain insights into robust customer identity verification, data analytics, watchlist screening, enhanced due diligence and collaborative information sharing. Empower your organization to stay steps ahead in the battle against sophisticated online fraudsters.

Solution

Account opening solution

Analyze a powerful tool that can help institutions verify the identity of new customers during the account opening process. Within this online resource is a comprehensive overview of the features and benefits, as well as its integration process.

Testimonials and recognition

“[The] Account opening solution is very helpful as it helps us to identify more legitimate users before going through a digital KYC process.”
– Mark Ross-Smith, CEO of Status Match