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  • AML checks: Know your customer and ensure compliance

    7th February 2019   |   Software Updates


    You can now carry out Anti-Money Laundering (AML) checks in an instant with HubSolv Messenger – HubSolv’s client portal which allows users to verify ID, upload files, pull Credit Searches, Bank Statements, DVLA checks, and communicate with clients through instant messaging.

    The new AML checks are the perfect complement to the streamlined Credit reports that we provide with our automated client portal. We are bringing together all relevant data sources online in an automated way to help you save time, improve efficiency and meet KYC and AML regulatory compliance.

    It’s never been easier to verify your customers’ ID and make sure they are not engaged in any suspicious activity – our AML reports perform identity and residency matches and screen against sanction lists and databases for Personally Exposed Person (PEPs), SIPs (Special Interest Persons) and RCAs (Relatives and Close Associates).


    The role of IPs and how we can help

    Insolvency Practitioners have a key role to play in identifying and reporting suspicious money laundering activity as they investigate the conduct of companies and insolvent individuals. We at HubSolv want to play our part – with AML reports we can help our business partners to identify suspicions of money laundering and promote best practice in AML compliance.

    Recent updates on EU and UK AML rules show an increased focus on monitoring, mitigating anti-money laundering risks and due diligence processes, which is why e-KYC actions and AML checks are becoming more important for businesses.


    What HubSolv’s AML reports cover:

    • Name
    • Date of birth
    • Residency
    • Accounts
    • Electoral Register DOB Match
    • Telephone confirmation
    • Mortality
    • County Court Judgments (CCJ)
    • Matches against UK/EU sanction list, PEPs, SIPs and RCAs.


    We have just rolled out the AML checks feature for some of our customers, who are already making the most of AML reports to save time and improve regulatory compliance. If you’re interested in AML checks, get in touch! Contact us at helpdesk@hubsolv.com



    Supporting #Flagitup

    With the release of our AML reports, we take the opportunity to express our support to #flagitup – the Government’s anti-money laundering campaign.

    ‘Flag it up’ was launched in October as a joint initiative to raise awareness of the warning signs of money laundering and to urge professionals in relevant sectors to report suspicious activity via a Suspicious Activity Report (SAR) to the National Crime Agency (NCA).

    Reportedly, there is a realistic possibility that the scale of money laundering impacting the UK annually is in the hundreds of billions of pounds. By flagging your suspicions of money laundering, you are helping to build a safer society.

    We want to help raise awareness and encourage industry players to do their due diligence. If you notice anything suspicious, #flagitup.

    #DirtyMoney has no place in the UK – play your part and keep it out. Know the signs, report the crime. #FlagItUphttps://flagitup.campaign.gov.uk/

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