Veriff today launches our Anti-Money Laundering (AML), Politically Exposed Person (PEP) and Sanctions Product, providing our clients with a full suite of anti-money laundering checks, and ongoing monitoring of PEP and sanctions lists.
Karita Sall, June 3rd, 2021
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If your business works with money, in any way, then our new product is here to help you stay safe.
Today Veriff is launching our new Anti-Money Laundering (AML), Politically Exposed Person (PEP) and Sanctions Product, providing our clients with an extended suite of tools to help them comply with anti-money laundering regulations. Identity verification, Politically Exposed Person (PEP) checks, adverse media screening, ongoing monitoring of persons and sanctions services help financial institutions to combat money laundering. With this product offering, Veriff’s solution will cover the essential Know Your Customer (KYC) and AML checks required by companies to comply with critical identity-focused financial regulations and tackle financial crimes.
In 2020, 57 percent of businesses experienced a rise in online fraud year over year due to their inability to authenticate customers. With the Veriff AML compliance product, after verifying the true identity of the individual, Veriff will screen for potential matches in consolidated PEP and Sanctions lists and offer automated ongoing monitoring.
“With our AML compliance product, Veriff offers its customers a one-stop-shop to comply with key financial sector regulations,” said Janer Gorohhov, Veriff co-founder and CPO. “As financial fraud continues to threaten corporations and individuals on a global scale, Veriff is committed to protecting our customers with the technologies and capabilities they need to keep their identities safe from fraud.”
“One of the unforeseen challenges that many transacting businesses face is making sure they’re not onboarding a perspective customer who later turns out to be a business liability,” said Charlie Delinpole, Founder and CEO of ComplyAdvantage. “Through our collaboration, we are delighted to work with Veriff as they develop a world-class identity verification solution designed to reduce risk so their customers can transact with trust and grow with confidence.”
For more information, please visit us our dedicated product page.