Trulioo’s Global AML Watchlist SolutionTrulioo offers comprehensive coverage of global AML risk data sources including sanction lists (such as OFAC, UN, HMT, EU, DFAT, and many more), law enforcement lists (Interpol, country specific government and state agencies, and police forces), and governing regulatory bodies’ (financial and securities commissions) from around the world.
Trulioo’s Global AML Watchlist helps you comply with domestic and international Anti-Money Laundering (AML), Counter Terrorist Finance (CTF), and sanctions enforcement regulations. The Watchlist is accessible in two ways, real-time AML Watchlist checks and/or AML batch service. Our Global AML Watchlist solution gives the user the ability to:
- Streamline the workflow for list screening, processing results, and record keeping
- Focus processing time and staff hours on the highest level of risk and compliance requirements
- Save additional cost and training resources for supplementary data that is not required for compliance
What are WatchlistsCompliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) obligations require real-time and regular identity checks against known or suspected money laundering, terrorist, or other persons considered high risk. Such high risk individuals, termed Politically Exposed Persons (PEPs), are identified in a variety of lists across the globe.
Why Perform Watchlist ChecksFinancial institutions and other organizations are expected to have a process that identifies PEPs and ensures that money managed on behalf of PEPs is not derived from criminal activity. Heavy fines are imposed on organizations that fail to have adequate PEP screening should a client be found to be engaged in criminal activity. Therefore, compliance with AML, KYC, and sanctions requirements continue to be a key focus area for management, and firms are under pressure to demonstrate a robust compliance framework to ensure legal requirements are met at both a regional and global level.
How Real-Time AML Watchlist Checking WorksTrulioo clients who enable GlobalGateway’s Enhanced Watchlist with their verification services receive two distinct sets of data per identity check. The first verifies the identity of the individual, and the second checks against a multitude of government watchlists worldwide. If there is a positive match, or a “hit” on the watchlist, a link directs the user to the watchlist results. The detailed information provided lets clients determine the applicability of the watchlist hit and determine their next steps.
- Real-time global coverage in 190 countries, 6 languages
- Increased coverage from 126+ sanctions, watchlists, PEPs and adverse media
- Seamless integration during customer onboarding via API or web portal
- Over 5 million media articles analyzed for criminal activities and updated hourly
- Filtering capabilities include country and year of birth
Want to know more?For more information about Trulioo’s Global AML Watchlist service, download the product sheet or contact our sales team today.
How AML Batch Service WorksTrulioo’s AML Batch Service offers a cost-effective option for Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD). Clients can upload and process batch files to re-verify customers against the Watchlist (AML/PEP/OFAC lists) data source with minimal impact on business.
- Reduce Operational Costs
- Save Time
- Cross-Border Compliance
- Hassle-Free Maintenance
- Streamline Global Operations