Resources & Insights

For many years now, electronic verification (EV) has been seen as the most reliable and robust way of completing AML checks, with regulators across the world pushing firms to use it as a preferred solution.

And now, as a result of the pandemic, not only is EV the most reliable option, but it is also the only viable one.

Unlike manual checks, which are time consuming and open to error, electronic verification is quick, secure and reliable, offering a consistent approach to AML procedures. 

By using cloud-based technology, electronic AML platforms offer a quick, easy and secure way for regulated businesses to not only run full AML checks from the office, remotely or a mix of the two, but also, to ensure all record keeping is up to date and fully compliant.

Leading anti-money laundering (AML) firm SmartSearch, has launched a new service to help businesses identify the ultimate beneficial owner (UBO) of large corporates.

Leading anti-money laundering specialist SmartSearch has warned property agents are in serious danger of non-compliance with new regulations, unless they ditch documents and embrace a digital solution.    

Leading UK RegTech specialist SmartSearch has warned against the dangers of rushing through anti-money laundering checks, in a bid to beat the upcoming stamp duty holiday deadline at the end of June    

As a member of the European Union (EU), the UK’s anti-money laundering (AML) laws were dictated by the European Parliament’s Money Laundering Directives. But, on 31 December 2020 - four years after the Brexit vote - the UK finally left the EU. So, the question is, what happens to the UK’s regulatory environment now that it is no longer governed by the EU?

NatWest’s landmark money-laundering case has dealt a huge blow to consumer trust in online banking; an industry that more than three quarters (76%) of UK consumers already admit they don’t fully trust, according to research from anti-money laundering specialists, SmartSearch.

The ongoing lawsuit being faced by the high street bank has put others on high alert to the threats and scale of money laundering in the UK, but experts warn this case is the tip of the iceberg when it comes to financial crime in the UK.

So, what can businesses learn from NatWest to avoid the same costly pitfalls?

SmartSearch, the UK’s leading anti-money laundering (AML) solution provider, has called on lenders, brokers and conveyancers to learn the lessons from the Government’s failure to prevent the loss of £billions in Covid-related fraud over the past 12 months.

Leading UK anti-money laundering (AML) and ID verification firm SmartSearch is launching the most comprehensive business-owner verification solution on the market, in a bid to counter the spike in the number of scams involving fake businesses.

Award-winning company SmartSearch Ltd, has today been recognised as one of the leading providers of regulatory technology (RegTech) software. For the fourth consecutive year, SmartSearch has been included in the prestigious ‘RegTech 100’ list, in recognition of its leading role in combatting money laundering.

 The 2021 list recognizes the tech companies transforming compliance, risk management and cybersecurity.