Search Results for: aml

AML platform reveals major deal to upgrade KYC and sanctions coverage for agents

London Stock Exchange Group (LSEG) has joined existing SmartSearch provider, Dow Jones Watchlist, to deliver comprehensive data coverage, ensuring compliance with Know Your Customer (KYC) and sanctions enforcement regulations for the property industry. The integration of LSEG’s World-Check One solution will enhance existing SmartSearch watchlist screening and functionality by introducing comprehensive adverse media monitoring, advanced ‘fuzzy matching’ for name variations, real-time monitoring capabilities, and access to data from over 100,000 reputable sources across 66 SIP categories. “Businesses in regulated sectors face potentially unlimited fines and even jail time for non-compliance with AML regulation,” said Fraser Mitchell, Chief Product Officer at SmartSearch. “As well as unwittingly becoming a cog in the financial crime machine if a criminal slips through the net – implicating the business in facilitating drug smuggling, human trafficking and even terrorism.” Triple reliability SmartSearch uses global data from Equifax, Experian and Transunion, combined with biometric and AI-driven technology to verify individuals and businesses instantly, determining if they are present on sanctions lists. The platform also then performs real-time screening for anyone who may not be illegal to do business with but who carries greater risk, such as Politically Exposed Persons (PEPs), Special Interest Persons (SIPs) and Relative or…