Manage your AML Process

PREVENT MONEY LAUNDERING AND FINANCIAL CRIMES WITH OUR COMPLETE AML COMPLIANCE SOLUTION TO SCREEN OUT THE SUSPICIOUS ENTITIES WITHIN SECONDS...

Anti-Money Laundering Verify Customers Across The Globe

Verify customers across the globe

Anti-Money Laundering Screening Within a Second

Screening within a Second

Anti-Money Laundering Enhanced Data Security

Enhanced Data Security

Anti-Money Laundering rely on the experts

Rely on the experts

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RANJAN ANANDAN

VICE PRESIDENT, SOUTH EAST ASIA & INDIA

GOOGLE

Signzy is a standout example of tech-enabled disruption.

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SEEMA KUMAR

COUNTRY LEADER

IBM INDIA

It is answering the question, How do you build trust online. It uses APIs on visual recognition to build digital trust.

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ABHIJIT SHAH

MARKETING DIGITAL AND CUSTOMER EXPERIENCE

ICICI PRUDENTIAL AMC

ICICI Prudential is the 1st fund house in industry to introduce investor on boarding solution developed in partnership with Signzy.We are now offering customers a fully digitized onboarding journey to our customers which resulted in growth to ...

Algorithmic Risk Intelligence + KYC = Less risk, more efficiency..

According a report by deloitte, Customer Due Diligence must be the focus to mitigate AML compliance and risks. Our AML compliance check has algorithms which analyze traditional + non-traditional sources – social media, news, court cases etc. creating intelligent linkages between entities thus providing detailed due-diligence algorithmically in realtime.

Anti-Money Laundering ari illust

You can’t escape AML

What is AML?

  • Collection of policies, rules, and regulations aimed at preventing the illicit generation of profits.
  • Mandatory compliance for Financial institutions under Bank Secrecy Act (BSA) of 1970 and USA Patriot Act.
  • Apply to a small number of transactions and illegal activities, but their consequences are far-reaching.
Anti-Money Laundering what is aml
Anti-Money Laundering who is impacted

Who is Impacted?

  • Financial institutions that issue credit or enable customers to open accounts are responsible for performing enhanced due diligence and verifying customers to ensure they are not involved in a money laundering scheme.
  • They must check where large amounts of money came from, keep an eye on illegal activity, and track significant cash transactions.

What are the best practises for AML check?

  • AML Compliance Check revisit the policies regularly, Improvise them through periodic reports, write them down and state them clearly to executives, staff, and regulators.
  • Appoint an experienced person to monitor communication procedure and compliance of your team to regulations.
  • Ensure that the training program is up-to-date to keep modern money laundering methods at bay.
  • Seek help from a third party to review the program at regular intervals.
Anti-Money Laundering best practises for aml check
Anti-Money Laundering compliance technology

Why do you need AML Compliance Technology?

  • While the above practises may seem simple, they aren’t beneficial in terms of cost and efficiency.
  • Leveraging automation can fasten the process, reduce regulatory risk, avoid unnecessary repetitive tasks and discrepancies caused due to human errors.
  • Hence, using a software for AML compliance can streamline the process and quickly detect any suspicious or unusual activity

Automate your back office operations into a real time API

Simple, Slick and Smart AML Compliance Solution

Anti-Money Laundering

REAL-TIME ID CHECK

OVDs are checked in real-time to verify the user

Anti-Money Laundering global database

AML CHECK AGAINST GLOBAL DATABASE

Retrieved data is cross-checked with Government and other valid global databases

Anti-Money Laundering verification complete

VERIFICATION COMPLETE

...And you are all set to Go!

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DID YOU KNOW?

Every year, an estimated $800 billion to $2 trillion gets laundered around the world, according to the United Nations Office on Drugs and Crime. And Anti-Money Laundering programs currently catch only 1% of that money. Global identity verification is essential for keeping more dirty money out of our economy.

Anti-Money Laundering did you know

Financial services bank on signzy

Anti-Money Laundering retail banking

RETAIL BANKING

Anti-Money Laundering insurance

INSURANCE

Anti-Money Laundering corporate banking

CORPORATE BANKING

Anti-Money Laundering nbfc

NBFC

Anti-Money Laundering payments

PAYMENTS

Anti-Money Laundering mutual fund brokerage

MUTUAL FUND BROKERAGE

Signzy provides an umbrella solution by combining its AI builder with Fintech API Marketplace which comprises 200+ APIs. WorldWatch Risk Screening API is one such APIs which covers background checks and risk screening through AML/CFT, Politically Exposed People. It also conducts Negative Media checks for individuals as well as entities globally. This data is refreshed every 24 hours. This is because the search results are the most up-to-date information. The data is available from over 8000+watch lists and sanctions sources globally. The APIs also include monitoring facilities to receive regular alerts.

Explore how our AML suite provides quick and thorough AML check to help your prevent crime.

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Anti-Money Laundering FAQ’s

Q: "What is Anti-Money Laundering in simple terms?"

Anti-money laundering (AML) refers to a collection of policies, rules, and regulations aimed at preventing the illicit generation of profits. Financial institutions are required to comply with AML initiatives under laws such as the Bank Secrecy Act (BSA) of 1970 and the more recent USA Patriot Act.

Anti-money laundering laws can only apply to a small number of transactions and illegal activities, but their consequences are far-reaching. AML targets a wide range of activities, from corruption and tax evasion to manipulating the market and trading with illicit goods, as well as hiding any of these.

Since the majority of criminals and terrorists rely heavily on a cash flow of laundered money for their illegal activities, having the appropriate AML checks in place has broader crime-reducing implications.

Anti-money laundering (AML) refers to a collection of policies, rules, and regulations aimed at preventing the illicit generation of profits.

Financial institutions are required to comply with AML initiatives under laws such as the Bank Secrecy Act (BSA) of 1970 and the more recent USA Patriot Act.

Anti-money laundering laws can only apply to a small number of transactions and illegal activities, but their consequences are far-reaching.

AML targets a wide range of activities, from corruption and tax evasion to manipulating the market and trading with illicit goods, as well as hiding any of these.

Since the majority of criminals and terrorists rely heavily on a cash flow of laundered money for their illegal activities, having the appropriate AML checks in place has broader crime-reducing implications.

Under the AML regulation laws, all businesses, and financial institutions, in particular, are obligated to do everything in their power to identify money laundering tactics and report them.

In addition to running a series of Anti-Money Laundering checks when they first take on a client, companies should also proactively monitor the behaviour of their customers so they can detect any suspicious activity in due time.

The due diligence required from businesses includes many AML checks, ranging from simple Know Your Customer (KYC) checks and Identity Verification, to standard Electoral and Mortality Register ID checks, and even enhanced PEP (Politically Exposed Persons) and Sanctions searches.

AML checks are crucial for some industries, including housing, law, and accountancy to name just a few. New laws are impacting these industries with hard fines handed out for those who don’t comply with the rules and regulations.

AML laws became prominent in 1989, when a group of countries and organizations around the world formed the Financial Action Task Force (FATF). Its mission is to devise international standards to prevent money laundering and to promote the implementation of those standards.

In 1990, the Financial Crimes Enforcement Network (FinCEN) was established by the US Department of Treasury “to safeguard the financial system from illicit use, combat money laundering and promote national security.”

In October 2001, shortly after the 9/11 terrorist attacks on the United States, FATF expanded its mandate to include efforts to combat terrorist financing through the passage of the USA Patriot Act.

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