Tl;dr The insurance sector is often targeted by financial criminals for the purpose of money laundering, so it’s important that you have and follow a bulletproof AML policy. Use Complytron to run all the basic AML compliance checks from sanctions screening to PEP checks, and learn more about your client using our proprietary URL search to protect your business from shady people.
According to the latest EU AML directive, AMLD6, individuals or entities involved in insurance or insurance brokerage must to AML compliance checks. This is because various insurance products and product features make insurance an area that’s vulnerable to being used for money laundering.
To avoid fines, penalties and even jail time, make sure your AML processes are in place. This includes AML/KYC checks at onboarding and throughout the entire customer lifecycle.
Never miss important critical information about your client
Fight financial crime with our powerful name and URL search tools
✓ Streamline your AML/KYC processes by letting one powerful search tool search all the relevant databases at once.
✓ Stay compliant. Insurers, both big and small, operate in a stringent regulatory environment, and there is increasing pressure to do everything possible to help fight money laundering and other financial crimes. Don’t get caught out, add Complytron to your AML/KYC processes.
✓ Avoid an AML scandal and the associated reputational damage by doing thorough AML/KYC due diligence checks — don’t leave any stone unturned, add Complytron to your arsenal of tools.
✓ Go beyond traditional searches. Although the standard checks like Google search, adverse media, company registries have their place, there’s only so much they can tell you. Add AI-driven technology to your toolkit to uncover information that traditional searches miss.
✓ Discover more information even when you don’t have much to go on with our proprietary URL search.
✓ Make more accurate risk assessments with your analysts better able to explain their decisions.
✓ Automate, automate, automate. Reduce time spent on manual searches and instantly check potential or existing clients against all our databases.
✓ Get real-time notifications if your client’s risk status changes, so your risk assessments stay current.
✓ Customisable data sets to suit your individual risk appetite, customer risk profile, jurisdictional requirements etc.
✓ We specialise in PEP data for Europe, so if you operate in this region Complytron is the best solution for you.
✓ Reduced false positives and duplicates so your analysts can focus solely on the relevant data without being distracted by irrelevant data.
✓ Intuitive interface and easy-to-understand results so your analysts waste no time navigating our user dashboard and more time on complex analysis.
✓ Straightforward API so you can connect our tool to your existing system.
✓ Encrypted searches to protect your privacy.
✓ Downloadable Search History reports that can be used as proof of search and compliance audits.
Those with the most to hide are always the best at hiding their backgrounds and business dealings. Ensure your risk analysts have all the tools they need to find hidden clues on the web.