Can the members please share their opinions/experience of using online AML software for client checks.
I do not meet in person c 80-90% of my clients and run the practice mostly online with only occasional Skype meetings. Currently I ask clients to send me the certified copies of their ID and POA. I am looking to simplify the process and hoping to conduct AML checks online.
Replies (13)
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I use SmartSearch. At £5 per client I think it's good value.
A new one on me, but looks good (I'm not the OP)
Try Company Registrations Online.
£2.95 per search.
http://www.companyregistrations.co.uk/searches-on-individuals/
What’s main software do you use?
We use TaxCalc, so their AML add-on made sense, especially as you can bulk buy for as low as £1.50
I suspect that you should have a look at amlcc as the risk of not meeting a client is now considered to be greater than earlier money lundering requiremenst.
Hi everyone I found this thread as I’m setting up my practice now and I am looking at using Veriphy for AML checks. I work from home and ideally don’t want to ask clients to physically bring along ID (especially at the current time!)
Can anyone tell me what info you actually do verify for a very low risk client.. i.e. you can put in passport number/driving license number - is this needed or does it suffice to fill in the name, address etc section at the top?
If verifying passport or other details, do you still ask client to send you a copy? I.e does it replace having to have a copy, or does it just replace having to physically take the copy yourself? Thanks
@debbitomycredit We use Zoom or whats app and compare the photo on a previously emailed passport photo to verify.
As I understand it now on every occasion one has to electronically verify The best system I have seen is the that offered by AMLCC which does a lot more than that because you know have to do more than get a photo and address verification