Complete your due diligence with confidence it meets regulatory body requirements with our Anti-Money Laundering search. Giving you peace of mind you’re protecting yourself, your clients, and your firm.
DUE DILIGENCE
AML Checks Online
Money laundering costs the UK more than £100 billion pounds every year. Law firms are a key target for fraudsters, which is why fraud continues to be a major concern for law firms when completing a conveyancing transaction. Our service is an online automated solution that quickly and easily performs anti-money laundering searches to assist you in completing your identity checks. Fully compliant with AMLv4, law firms are empowered to manage the due diligence process that meets established SRA standards.
Understanding risk
Compliance with the latest legislation must be a top priority for law firms. According to the SRA, fraud equates to hundreds of millions of pounds each year for law firms. Checking the identity of your client once involved citing a passport or driver’s licence, however more thorough checks are now required to avoid the risk of fraud. We understand the risk of fraud poses to your firm and how important it is for you to identify who your clients are.
Online AML searches
Confirming the identity of your client is an essential part of the customer due diligence process as outlined by the Money Laundering Regulations 2007. InfoTrack provides you with access to quick and easy AML searches online, through the same platform you manage your searches and post-completion. We work with trusted anti-money laundering providers, checking your client’s identity across databases in 150 countries so you remain compliant with the European Union Fourth AML Directive.
What is AML?
Anti-money laundering is comprised of laws and regulations with the aim to prevent fraud. Completing an AML check assists in identifying if illegally obtained funds have been disguised as legitimate income. AML checks are a key element of law firm due diligence processes for new and existing clients.