The hows and whys of screening.

What is AML Screening? Who does it apply to? Does it apply to individuals? or Entities?

The process can be daunting, and it takes firms time to figure out the requirements that are applicable to their line of business. Some firms may think what they are obligated to undertake under the new AML regulations is perhaps overkill, and doesnt necessarily apply to them, but financial integrity is a serious topic, and non-compliance has serious consequences.

It is vital to choose the right solution for your firm. Screening entities, as well as the individuals associated with those entities is a vital first step in approving and accepting a client. However, the process doesn’t stop there. Ongoing monitoring is a common slogan, and is becoming a necessity for all businesses dealing with regular financial transactions.

This section will be updated regularly with vital information related to client screening, transaction monitoring, and information integrity.