Straightforward Anti-Money Laundering compliance

How can technology help you with Know Your Customer checks?

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Ensure straightforward AML compliance

Making effective Know Your Customer (KYC) checks is critical to guard against fraud, money-laundering and corruption and essential to comply with anti-money laundering legislation.

We support regulated businesses with scalable, pay-per-check online KYC services which flex according to your processes and your risk of fraud.

How can TrustID help with KYC checks?

Easily onboard your customers from anywhere at anytime, without meeting them face-to-face, using our online Know Your Customer services.

Whether you are onboarding a few customers or thousands, online KYC services can take away the stress of compliance and protect you from the risk of fraud.

Our AML services are built with a unique combination of technology and human support. Our expert document analyst team are the best in the industry and they are on hand 7-days a week to offer support and advice.

Choose from identity document checks, PEPs and Sanctions screening, address verification and face matching services, scaled to fit your needs.

“Using TrustID has been that rarest of things, a real business process win-win. Not only have we improved the quality of ID capture we have also considerably improved the customer experience and engagement.”

Our expert team are ready to answer any questions.

Let’s talk identity…

01184 660 822

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Find out how identity verification supports AML checks

Why consider digital verification for KYC?

Simplify complexity

Choose from identity and PEPs and sanctions checks, address verification and biometric face match services and bring all your customer information into one straightforward tool to help
your compliance.

Make checks from anywhere

Make checks from wherever you meet customers using our online interface, or ask them to upload their own documents with our ‘Guest Links’ one-time
access link.

Reduced administration

Eliminates the need to check, copy and store paper-based identity. KYC services produce a comprehensive report to help your record keeping and support future audits.

A few of our customers

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Our range of services to support your AML compliance

KYC checks
Know Your Customer checks

Know Your Customer checks

Simple, pay-per-check KYC service for AML compliance. PEP & Sanctions screening, address verification and ongoing monitoring.

Verify identity documents
Online identity checks

Online identity checks

Global identity documents checked in seconds. Proven, industry-leading verification on a pay-per-check basis.

Stronger verification
Face biometrics

Face biometrics

Use selfie-based biometrics to match a person to their identity document and add liveness detection to prevent spoofing.

Know Your Customer Check FAQs

What are Know Your Customer (KYC) checks?

Know Your Customer (KYC) checks are the process of verifying a customer’s identity, using documents like photographic ID, proof of date of birth and proof of address. These are necessary checks to ensure that your organisation is doing business with legitimate customers who are who they say they are. These checks can be used to aid in compliance with money laundering regulations.

What is Anti-money laundering (AML)?

AML compliance are more than just KYC checks. AML checks are an umbrella term for a range of regulatory processes which financial institutions and regulated organisations must have in place to prevent and combat financial crimes, especially money laundering and terrorism financing.

What are the standard KYC/AML requirements?

The level of checks that you choose to make will depend on the risk profile of your organisation but when undertaking KYC, you must identify the customer and verify their identity using reliable and independent sources. You must also run PEP and Sanction checks and, if a customer’s name matches, run Enhanced Due Diligence to assess the risk they pose.

What are PEPs and Sanctions checks?

PEP stands for Politically Exposed Person, which typically relates to an individual who holds a prominent public position or function. Sanction checks are specialised searches that identify individuals who are prohibited from certain activities or industries.

Screening PEPs and Sanctions lists for your potential customers is an important part of AML compliance and your company’s risk-based approach to customer onboarding.

When do you need to carry out AML and KYC Checks?

Every regulated business should carry out regular KYC and AML checks to build a strong and robust fraud-prevention and anti-money laundering system, including:

  • When establishing a new business relationship with a customer
  • When you suspect money laundering or terrorist financing
  • When you work with existing customers whose circumstances have changed
  • As a high-value dealer, when you:
    • make a payment to a supplier worth €10,000 or more
    • carry out an ‘occasional transaction’ worth €10,000 or more

Why do you need to do AML and KYC checks?

Thorough KYC and AML checks help regulated businesses protect against crime including money laundering, corruption and fraud. Failing to carry out the required checks can lead to penalties by the FCA, including fines or, in more serious cases, criminal prosecution., along with the risk of damage to your reputation.

Why use TrustID for KYC / AML checks?

At TrustID, we offer a straightforward, easy to use online AML check service. The first step is a robust check using our online AML  ID verification service which helps to quickly and reliably assess whether your customers’ documents are genuine and belong to the holder. You can then add PEPs and Sanction and address verification checks as well as face matching and liveness testing. Our online KYC/AML service is accessible from anywhere, 7-days a week and offers a unique combination of human expertise and AI to protect your regulated business from fraud and money laundering.

What’s the difference between eKYC and KYC?

The lines between eKYC and KYC checks are blurred as we move to an increasingly online world. However, the major distinction is the use of physical proof when checking identity. With KYC checks, the first step is often verifying a government-issued document either face-to-face or remotely. Only once you have confirmed your customer’s identity do you then use that verified identity to further checks, such as PEP & Sanctions and address verification. Conversely, eKYC services rely simply on entering the name, address and date of birth given by a customer, with this information then used as the basis of additional checks against address lists or digital counter fraud sources.

Have a different question? Please get in touch.

More information about KYC/AML compliance

What’s it worth? Exploring the real value of Know Your Customer checks

Why remote identity verification helps more than just compliance

What being ISO27001 certified means

Our IS27001 accredited certification lets you know that we follow information security best practice, helping to eliminate or minimise the risk of a security breach, keep information secure and ensure compliance with data protection regulations.

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