Enhanced Facial Recognition with TripleCheck
We work with “TripleCheck” to help with your anti-money laundering processes using enhanced facial recognition techniques. It is a pioneering new electronic KYC and AML solution that combines three levels of verification methods. Level one involves identification, verification and screening. Level 2 provides Facial Recognition and level 3 carries out Digital Fraud Checks.
Together they are TripleCheck, the most powerful, robust and reliable all-in-one AML platform.
Level 1: Identification and Verification with Sanction and PEP screening
This is performed using dual bureau Credit Reference Agency (CRA) data and the Dow Jones Global WatchList (1,100 +). It carries out a full AML check with automatic Sanction and PEP screening.
All you need to do is enter the name, address and date of birth (optional) and the system will complete the check in less than two seconds.
Level 2: Facial Recognition, Document Capture and Liveness Appraisal
This level combines Optical Character Recognition (OCR) and the latest biometric facial recognition techniques to provide you with a true picture of your customer.
Firstly it checks on photo identity documents and then, using a customer Selfie Liveness Video (SLV), uses biometric and liveness detection to compare the “real person” with the document provided.
Level 3: Digital Fraud Checks with Data Referencing and Triangulation
Level 3 utilises various Digital Elements (DEs) to create robust and simple to understand fraud risk indicators. Together these deliver an overall risk score. A dashboard provides detailed information to support additional due diligence.
Triple Check – a unique AML solution
By bringing together all these elements – terrestrial data verification, AI document scrutiny with biometrics, SLV facial recognition and digital fraud checks – SmartSearch has created a highly advanced, robust and reliable identification and verification solution to help you ensure your business meets its obligations under the anti-money laundering regulations.
Why use Facial Recognition?
Facial recognition is becoming an increasingly popular part of the customer verification process. Under COVID-19 social distancing rules, many prospective clients are no longer able to present their documents in person and sending in the post can lead to lengthy delays.
We offer a full suite of customer verification services using biometric techniques. To find out more, please visit our blog article on biometric facial recognition.
Contact us to discuss how the TripleCheck system can help your business’ compliance with the anti-money laundering regulations.