iDenfy has recently unveiled a new AML solution aimed at screening individuals and businesses against various AML databases, including global sanctions lists.
This latest development is anticipated to enhance the efficiency of iDenfy’s automated AML system in preventing, detecting, and monitoring money laundering risks. It is expected to provide a robust tool that meets international regulatory standards while combating fraud through state-of-the-art data sources.
The new AML Screening platform will also introduce an improved operational workflow designed for consistent, transparent, and auditable compliance settings across all iDenfy products. This includes the Know Your Customer (KYC) and Know Your Business (KYB) verification systems. The platform will enable real-time monitoring of individuals and entities against sanctions, Politically Exposed Persons (PEPs) lists, adverse media, and other risk datasets.
Integrating Acuris Risk Intelligence Tool and Simplifying AML Checks
The new AML Screening software has been developed to offer a streamlined configuration structure that allows iDenfy partners to manage AML match thresholds, PEP risk tiers, and sanction filters from a single platform. This integration of the Acuris risk intelligence tool aims to facilitate both manual and automated AML checks through dashboard or API triggers.
This update is intended to offer greater flexibility for financial institutions, fintechs, and other regulated industries dealing with high volumes of corporate clients. It will enable instant AML checks during onboarding processes and integration with iDenfy’s KYC and KYB systems.
The new system will feature improved logic to handle high-risk clients such as PEPs, optimizing the evaluation process for both foreign and domestic PEPs, their family members, and close associates. The software will assign PEP tier levels based on their influence and exposure.
iDenfy’s AML dashboard is expected to automatically adjust custom filters and changes according to the partner’s setup. Users can check risk lists and search results to obtain detailed information about a person, along with search details and overall AML check status. The system will use more precise terms like ‘Flags found’, ‘Flags not found’, ‘True positive’, and ‘False positive’ instead of simple ‘AML suspected’ or ‘AML not suspected’ tags.
