Customer Verification – Electronic Individual Report
Ensure compliance with Anti-
Money Laundering Regulations with electronic individual customer verification reports. We offer a “pay-as-you-go” service for our account holders, with no contracts. We only charge for actual usage on a monthly basis. Please contact us for a quote.
Customer Verification with SmartSearch
We are a certified partner of SmartSearch, which is the most powerful anti-money laundering verification service available in the market today. With SmartSearch you can perform both business and consumer verification checks.
Other unique features include email alerts when the system finds any Sanction, PEP or SIP matches as well as ongoing monitoring of all client records.
AML checks on Individuals
By just entering an individual’s name, address and date of birth, our platform completes a full AML check in less than two seconds, saving time and money.
Multiple Verification Methods
Global data partners including Experian, Equifax and Dow Jones mean we can offer an efficient, cost-effective and fully compliant solution.
Detailed online reports
Our AML checks provide detailed reports on each individual, ensuring you know all there is to know about your customers.
Sanction, PEP, SIP and RCA checks
Our system automatically performs Sanction, PEP, SIP and RCA screening on every AML check you complete. This ensures you are always AML compliant.
Supervisors generally do not issue fines for a lack of controls. Instead they do so because the firm cannot demonstrate they perform verification checks. It is a requirement in legislation to have risk management policies in place to check if a customer is a “Politically Exposed Person”. Many organisations that rely solely on paper-based documents may not be employing effective methods to perform these checks.
BTC SmartSearch not only checks the PEP’s database but against other alert listings, including “deceased persons files” of both Government and insurance companies and the Credit Industry Fraud Avoidance Scheme (CIFAS) database of known identity theft, impersonation and first party fraud either as an offender or victim, as well as HM Treasury and other designated nationals sanction listings.
SmartSearch quite simply offers the widest and most comprehensive selection of individual checks available on the market.
Electronic verification with the SmartSearch is very effective as a main system of anti-money laundering identity verification procedures or as a supplement to your existing methods for those awkward cases that from time to time arise, allowing you to commence work with only the minimum amount of fuss in a cost effective manner.
“Refer” – Second Search on a second credit reference agency
On those few occasions when the report returns a “refer” rather than a “pass”, the system will automatically perform a second search with a second credit reference agency. On many occasions this will return a “pass”. This cuts down on the time and inconvenience to both you and your client, removing the need to verify by other means. There is an additional charge if this this second search returns a “pass”. If the second search returns a “refer”, we do not charge.
Customer Verification Biometric Facial Recognition
We are now pleased to be able in addition to our usual EV solutions add Biometric Facial Recognition to the customer onboarding process for both UK and overseas individual checks. This increasingly popular method is detailed in full on our facial recognition blog post.
Only Account holders can use this service.
When opening your account for this service you will asked for either your:
- “Supervisor Details” for the Money Laundering Regulations, or
- “Data Protection Act Registration Number” with the Information Commissioners Office.
Contact us to open an account to day