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AML software

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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.

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12th Jan 2019 21:22

I use SmartSearch. At £5 per client I think it's good value.

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to Moonbeam
13th Jan 2019 10:11

Moonbeam wrote:

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)

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By MECtax
13th Jan 2019 12:50

veriphy is cheaper! £4 + VAT per check.

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13th Jan 2019 16:27

Thank you - I will check both services now and see which one will suit me better. Pleasantly surprised of how cost effective the online AML checks are.

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13th Jan 2019 18:23

Try Company Registrations Online.

£2.95 per search.

http://www.companyregistrations.co.uk/searches-on-individuals/

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to James Green
13th Jan 2019 22:59

James Green wrote:

Try Company Registrations Online.

£2.95 per search.

http://www.companyregistrations.co.uk/searches-on-individuals/

Thank you James. I`ve never heard of them but will definitely have a look.

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13th Jan 2019 22:05

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

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13th Jan 2019 22:57

I am using QBO for bookkeeping and filing VAT returns and Taxfiler for accounts and tax returns and none of these offer AML product as an add-on so need to look for a stand alone product.

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17th Jan 2019 13:05

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.

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17th Jan 2019 18:00

I have now reviewed all suggested AML online software providers and chose veriphy. This will streamline and simplify the AML procedure. Thank you everyone for your input.

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