AML checks for clients you have not met

AML checks for clients you have not met

Didn't find your answer?

When carrying out AML checks for clients I have not met, I am asking for certified copies of documents or arranging a meeting specifically to view the documents. The process can be a bit inconvenient sometimes especially with clients who are based overseas. I am looking for solutions to make the process smoother, does anyone have any ideas? The potential solutions I have explored are:

- International electronic ID checks. Can anyone suggest companies offering this service who have reliable databases?

- Online ID verification providers who claim to be able to verify the authenticity of scanned documents: has anyone tried these, and if so, which one(s) would you advise?

Many thanks.

Replies (8)

Please login or register to join the discussion.

By Moonbeam
18th Mar 2016 11:35

I use SmartSearch

When I can't meet someone personally I just provide eg name and address, DOB, NINO, Driving Licence no, or Passport no to this company and for £5 a time they produce a report showing what checks they've made and whether the person has "passed". It might be cheaper if you have lots more searches.

Go to Smartsearch.secure.com

Thanks (1)
avatar
By Valentina744
18th Mar 2016 14:09

Skype?

Thanks (0)
avatar
By thomas
18th Mar 2016 14:16

I use Veriphy for AML checks on clients I haven't met

Thanks (1)
blue sheep
By NH
18th Mar 2016 14:22

veriphy

Veriphy works for us

Thanks (1)
avatar
By David_Lewis
18th Mar 2016 14:27

I'd love to see an article about this!

It strikes me that there different providers with different products and various pricing models - is there an article that compares the pros & cons?  

Thanks (2)
avatar
By klm4taxacc
22nd Mar 2016 17:01

E-Sign

Like many I have either asked for certified copies or a meeting.

I have been using e-sign.co.uk for obtaining electronic signatures for all documents needing client approval, including engagement letters, since 2014.

E-Sign now offers AML checks, their 'Veri-me verification technology lets you check the identity of over 4 billion people, anytime, anywhere in the world.'  I haven't tried this service yet, though I could now combine AML checks with my engagement letter.

http://blog.e-signhq.com/articles/Introducting-Veri-Me-By-E-Sign

 

Incidentally, E-Sign is raising some capital for equity (a few days left).

https://www.crowdcube.com/investment/e-sign-20859

 

Thanks (0)
avatar
By User deleted
22nd Mar 2016 17:47

I think though ...

... most (all?) of these are fine for UK but not overseas clients?

I do ask for certified copies of ID documents, but have diddly squat way of telling if the certifier is genuine!!!

The most important thing is your risk assessment, I would be flagging these as medium or high risk and therefore being extremely vigilent for suspicious transactions.

If they have UK rental property, quite common with overseas clients, then check the land registry results correlate to the id documents, you could even ask the conveyancing solicitor to confirm as they must have dome ML checks when the property was purchased, or if they have a UK employer you could ask them to confirm their details. 

Thanks (0)
Stephen Quay
By squay
22nd Mar 2016 18:15

Credit Safe

I've been using Credit Safe for a few years now for their electronic AML ID verifications. According to their website they have international options so I would call them and discuss your requirements and they'll give you a demo. I have found them very flexible as I don't have to do many checks each year so every year when it's time for renewal I manage to pull off another cheaper deal with them. Currently I'm on 50 AML checks for £100 (ex vat). That's £2 a check with 20 company checks thrown in for free. Seems reasonable to me. 

Thanks (0)