"Our unique Anti Money Laundering verification platform brings together both Individual and Business searches for the UK and International Markets with automatic Worldwide Sanction & PEP screening."
The very latest technology delivers an unrivalled user experience to over 3,000 client firms and 35,000 users, enabling them to comply with the latest 2017 Anti Money Laundering (AML) Regulations and fulfil their AML, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance obligations. With no requirement for clients to provide identity documents, the “SmartSearch Way” is much more convenient for your clients and more cost effective for your Firm. From start to finish an Individual AML check takes less than 30 seconds and a Business AML check takes less than 3 minutes, including automatic Sanction & PEP screening.
As a preeminent REGTECH business we are dedicated to developing technology that enables our clients to comply with the regulations in the most efficient and cost effective manner. We listen to our clients, understand their issues and develop solutions to make their life easier; these three simple processes drive everything we do. Complying with current day regulations is not an easy task, without the use of clever technology it becomes almost impossible.
One platform, multiple solutions: Individual or Business Anti Money Laundering (AML) verification checks, UK or International...? It doesn’t really matter! Global Sanctions & PEP screening and Daily Monitoring for new updates and changes: Smartsearch – The Only AML Resource You Need!
SmartSearch will give you complete functionality to process any type of AML search all from a single and easy to use platform. Real-time hosting of all your businesses search activity and AML outcomes enables you to recall on-demand any AML outcomes to support an internal audit or an external visit from your regulator. A flexible search budget means you can select any type of search plan to suite your budget.
Much of the Professional Regulated Sector have realised the benefits of operating SmartSearch giving them a single platform for all of their Individual and Business AML, Sanction & PEP compliance requirements. The ability to retain all of their AML verification data and outcomes in a real-time environment where information can be retrieved on demand to satisfy any internal audits or regulatory visits.
Much of the Professional Regulated Sector have realised the benefits of operating SmartSearch giving them a single platform for all of their Individual and Business AML, Sanction & PEP compliance requirements. The ability to retain your AML verification data and outcomes in a real-time environment where information can be retrieved on demand to satisfy any internal audits or regulatory visits; this is just one of the features that saves our clients time and cost and gives them peace of mind to concentrate on their own business matters.
When the Regulator changed from OFT to HMRC this increased the focus on AML, Sanction & PEP compliance. As a consequence an ever increasing number of firms have upgraded their compliance regimes to incorporate electronic verification, demonstrating their compliance with regulations in a much more efficient and cost effective manner significantly reducing their operational risk.
Banks, Building Societies & Financial Communities are steadily catching up with the Professional Regulated Sectors with an increasing number of Financial Organisations switching to SmartSearch for their AML, Sanction & PEP compliance. These Communities are not renowned for being early adopters as they typically have long standing legacy IT systems that usually take several years to implement change.
Networks and Compliance Specialists provide their clients with large range of support products and services. SmartSearch partners with some of the largest Networks to provide their Members with fully integrated cost effective AML, Sanctions & PEP solutions, helping Firms to comply with the latest Money Laundering Regulations.
The offence under Proceeds of Crime Act (POCA) relates to any activity involving criminal or terrorist property. This is a much broader definition than the commonly understood definition of money laundering. A business can commit an offence under POCA by unwittingly facilitating an act of fraud.
In the instant decisioning world of global stock markets “time is of the essence” therefore using traditional documents is a totally ineffective means of complying with AML regulations. Likewise checking against other mandatory data sources such as Sanctions & PEPs on a regular basis is not commercially practical unless this is fully automated.