Anti-Money Laundering System
Interactive clients can access additional risk management support for protection against financial crime with our optional Anti-Money Laundering (AML) System.
Fully integrated into Interactive, AML users can undertake reliable AML or AML plus credit checks during client set-up, with instant pass or fail status, and lifetime storage of results.
By choosing our AML system, your law firm benefits from:-
- Lower operational costs – pay monthly in arrears with no initial outlay, annual subscription charges, minimum usage or contract period for significant overhead reductions
- Save valuable time – conduct automatic electronic checks, get results instantly, decrease admin tasks and eliminate manual AML screening delays
- Earn more fees – save your solicitors valuable time chasing up, reviewing, recording, photocopying and returning printed identity documentation so they can concentrate on chargeable fee earning tasks
- Verify your clients’ credentials – whether national or international, people or companies, ensure your customers’ identities are legitimate and they have the funds to pay for your legal services
- Comply with regulators – confidently perform due diligence by checking data across many sources to assess and mitigate risk thereby enhancing compliance with money laundering rules and regulations
- Become paperless – store an unlimited number of AML results in your Interactive database, hosted securely in our cloud-based servers, and reduce the volume of paper files in your office
- Improve accuracy – enter data once during the new client and matter set-up process then simply manipulate this data for AML searches and avoid data input errors
- View results online – conveniently view your forever-stored AML results via your password-protected internet connection at any time, from any place, on any device
- Introduce knowledge-sharing procedures – provide firm-wide access to AML search results so that all your practice staff can find information on your clients, both past and current, personal and corporate, for high financial control
- Avoid punitive charges – place greater emphasis on prevention and early detection of suspicious activity which you suspect may be linked to money laundering or terrorist financing to fulfil your professional obligations and avert heavy financial sanctions
- Report criminal transactions – easily compile reports on fraudulent activities with our reporting functionality and submit to the relevant government authorities as per the requirements of anti-money laundering guidelines and legislation
