Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

SmartSearch launches unique one-stop CIP and AML solution

Leading anti-money laundering (AML) firm SmartSearch has today launched its award-winning digital AML solution to the U.S. market.

SmartSearch makes it simple for firms to onboard new customers, providing a complete Customer Information Program (CIP) solution and meeting all their AML compliance needs under the Bank Secrecy Act and the Patriot Act. With enforcement of the California Consumer Privacy Act beginning this month, the system also enables firms to be fully CCPA-compliant.

By simply entering an individual’s name, address, date-of-birth and Social Security number, SmartSearch will complete a full AML check, generating a clear ‘pass’ or ‘refer’ result in a matter of seconds.  The checks include automatic worldwide Sanctions, Politically Exposed Persons, Specially Designated Nationals, Blocked Persons and OFAC checking.

Uniquely, SmartSearch also provides ongoing daily monitoring as standard, so that users automatically receive an alert if a customer’s status changes at any time. This means organizations using SmartSearch can have complete confidence that their AML checks are up-to-date and compliant at all times.

All checks can be completed remotely, with no need for face-to-face contact or for physical documents to be exchanged. The SmartSearch system can be operated as a standalone solution or integrated with a client’s existing systems. There is also a fully-integrated SmartSearch app, enabling AML checks to be performed on the go.

With AML experts and counter-terrorism watchdogs warning of an increased risk of money-laundering in the current crisis, firms need to be more vigilant than ever. SmartSearch provides a safe and cost-effective solution to meeting all regulatory requirements and protecting businesses from fraudulent activity.

John Dobson, chief executive of SmartSearch, said: “SmartSearch is here to make AML compliance easy. Our unique one-stop solution streamlines and automates the onboarding process, leaving clients free to do what they do best: run their businesses.

“Our combination of effective, easy-to-use technology, and friendly, efficient customer service has already made us a clear leader in the United Kingdom. Our 98 per cent client retention rate is evidence of the high standards we set ourselves and deliver.

“We are now bringing all those benefits to U.S. firms, with the same laser focus on making our clients’ lives easier.”