AML Scanner: PEP and Sanctions Screening Software
The AML Scanner module is a comprehensive service combining AML/CFT (Anti-Money Laundering / Combating the Financing of Terrorism) with KYC (Know Your Customer) elements.
PEP screening and sanctions screening in one simple solution
Our product AML Scanner combines the functions of the modules responsible for checking the status of a PEP and verifying entities against sanctions lists.
We also support automated VIES service background checking, so you can verify companies by their VAT number.
What is KYC?
KYC is a due diligence procedure that plays an increasingly important role in identifying fraud, money laundering and terrorist financing.
It is used to identify and verify the customer as accurately as possible and to obtain the information needed to do business. It is used by financial institutions and other legally defined entities that are required to identify their clients in order to minimise the risk of involvement in money laundering and terrorist financing.
What is AML?
AML/CFT is the set of rules and principles that companies providing financial services must apply to prevent money laundering and terrorist financing. The related procedures consist mainly of verifying the client, the company or organization and the persons associated with it against sanctions lists and PEP lists.
What is AML Scanner for?
AML Scanner, supported by KYC tools, is a service that enables verification in accordance with the AML Act.
What is AML Scanner based on?
KYC tools:
These are international or government registers from which company data is obtained. AML Scanner works on the basis of:
- The VIES register – provided by the European Commission – which checks the activity of an EU VAT number, required for cross-border transactions within the EU.
AML & CTF tools:
- Sanctions lists – the module supports verification of persons and companies against:
- Sanctions lists of the European Commission (e-CTFSL),
- OFAC SDN and Consolidated lists – prepared by the Office of Foreign Assets Control of the US Department of the Treasury (SDN and CSDN, i.e. consolidated sanctions lists),
- UN lists – based on United Nations Security Council resolutions concerning threats to international peace and security caused by terrorist attacks,
- The UK Sanctions List
- PEP lists – our proprietary database of people holding a prominent position. It contains information about people with PEP status both in the European Union and worldwide.
What can be achieved with AML Scanner?
Our tool lets you screen the following types of entities:
- natural person:
- using first and last name – natural persons are verified against PEP lists and sanctions lists,
- company:
- using a VAT number – verification in the VIES register, and then against sanctions lists and PEP lists,
- using the company name – verification against sanctions lists.
Benefits of using AML Scanner:
- Verification by data type,
- The ability to enter data in bulk from a file,
- Performing mass analysis in the background,
- Verification of companies and organizations using reliable data sources,
- Multi-level verification of companies against sanctions lists,
- Verification of persons related to the company against PEP lists,
- Verifying the status of clients’ business activity,
- EU VAT number activity monitoring,
- Easy API integration and automated screening.
What services does AML Scanner offer?
AML Scanner is a consolidated tool for comprehensive counterparty analysis. It was created by combining the following services: