AML verification – Smart Search
SmartSearch is a solution that streamlines the business and individual Anti Money Laundering (AML) requirements of a law firm. In the majority of cases, it completely removes the need to obtain any documentation from a client and work can begin on a matter in a couple of minutes, significantly reducing the days or weeks that it can take now.
The results of a SmartSearch can be saved into your Practice Management System ensuring that all your client and matter information is stored in one place for future reference, internal reviews and compliance audits.
Partnering with Experian and Dow Jones allows SmartSearch to provide law firms with comprehensive AML reporting and Sanction and PEP screening – a task that is often overlooked in the busy practice.
SmartSearch complies with the latest Anti-money Laundering Regulations 2007 and the Guidance Notes laid down by the Joint Money Laundering Steering Group (JMLSG), the Law Society, the Institute of Chartered Accountants England and Wales (ICAEW), the Financial Conduct Authority (FCA), the Office of Fair Trading (OFT) and Her Majesty’s Revenue and Customs (HMRC). In addition their systems comply with the Know Your Customer (KYC) and Customer Due Diligence (CDD) requirements and guidance from the aforementioned Regulatory Bodies.
Implementing SmartSearch is straightforward; it’s easy to use and saves time. It supports the development of the practice, forms a cornerstone of risk management plans and significantly reduces frustration for any law firm and, more importantly, the clients.