Anti-Money Laundering

Identity Verification Solutions to help you identify bad actors and eliminate risk.

Know Your Customer (KYC)

IDMERIT’s Global Anti-Money Laundering Compliance Solution

Anti-money laundering compliance allows businesses to detect suspicious transactions, prevent fraud, and mitigate risk. AML solutions give businesses the ability to deter illicit activities and prevent fraudsters from engaging in money laundering or terrorist financing.

The History of Bank Secrecy Act & AML Regulations

Bank Secrecy Act (BSA) is the U.S AML and CTF legislation that was introduced in 1970 to safeguard financial institutions from money laundering. Over the years, it has been amended by the Patriot Act to combat terrorism financing. The law requires banks and other financial institutions to provide documentation to regulators. It is administered by Financial Crimes Enforcement Network (Fincen). As per the BSA regulations, organizations are required to comply with BSA and develop Anti Money Laundering Program to reduce financial theft.

Importance of Anti-Money Laundering Solutions

The technological advancements and wide acceptance of digital payment modes have given a severe rise to identity fraud and theft. Organizations need to abide by stringent AML regulations to prevent sanctions and hefty fines. An effective AML compliance program and customer due diligence system allow companies to mitigate financial as well as reputational risk. AML/KYC compliance improves customer experience by offering a frictionless onboarding process.

Build a Robust AML Compliance Program

IDMERIT provides anti-money laundering and identity verification solutions to mitigate risk and prevent fraud. It helps you build a robust compliance program with reduced fraud and financial risk. The best-in-class suite of AML services will allow you to implement Enhanced Due Diligence in order to identify bad actors and adhere to ongoing compliance regulations. It enables you to effortlessly build and scale your Customer Identification Program (CIP) and effective due diligence.

AML Identity Verification for Real-time Risk Mitigation

IDMERIT’s AML verification and monitoring software allow you to quickly identify and manage high-risk applicants in an ongoing, effortless manner. The suite of identity verification solutions provide real-time risk mitigation using API access to a global database consisting of 15+ million bad actors and politically exposed people (PEP). With IDMERIT’s AML solutions, you can maintain client and business risk profiles to establish user authenticity seamlessly.
IDMERIT’s AML monitoring screening software allows you to screen customers against global watchlists. Sanctions lists give you access to one of the world’s largest databases of criminal risk profiles to track politically exposed persons (PEPs).

IDMERIT’s Anti-Money Laundering Solutions

IDMERIT’s suite of anti-money laundering solutions minimize the risks associated with laundering money and other illicit activities. It allows you to flag high-risk identities while screening them against AML watchlists. With AML compliance solutions, identify high-risk profiles, match your customers against 1200+ Sanctions Lists Monitored across the globe to mitigate risk in real-time. It helps you monitor risks associated with customers’ profilethrough anti-money laundering verification services built with advanced technology.