Frequently Asked Questions

Searches Group have been the UK's leading full-service provider of end-to-end Anti-Money Laundering Due Diligence solutions for over 10 years.

Our solutions integrate data and knowledge to help you demonstrate compliance with legislation and regulations. AML Search includes Customer Due Diligence (CDD) for individuals and organisations, on-going Due Diligence (ODD), alerts, PEP and watch list filtering, screening and monitoring, document management and audit record keeping.
AML Search is a cloud based solution which means your organisation does not require any specific IT systems or software licenses. All that is required is an internet connection and a browser.

Supported browsers include; Internet Explorer, Firefox, Safari and Opera.

Supported platforms include; Microsoft Windows, Apple Mac OSX, Blackberry, Apple iOS (iPhone & iPad), Google Android (Tablet and Phone)
CDD information comprises the facts about a customer that should enable an organisation to assess the extent to which the customer exposes it to a range of risks. These risks include money laundering and terrorist financing.

Organisations need to ‘know their customers’ for a number of reasons:

  • to comply with the requirements of relevant legislation and regulation
  • to help the firm, at the time the due diligence is carried out, to be certain that the customers are who they say they are, and that it is appropriate
  • to provide them with the products or services requested
  • to guard against fraud, including impersonation and identity fraud
  • to help the organisation to identify, during the course of a continuing relationship, what is unusual and to enable the unusual to be examined;
  • if unusual events do not have a commercial or otherwise straightforward rationale they may involve money laundering, fraud, or handling criminal or terrorist property
  • to enable the organisation to assist law enforcement, by providing available information on customers being investigated following the making of a suspicion activity report (SAR)
Businesses regulated by the Money Laundering Regulations must assess the risk that they could be used for money laundering, including terrorist financing.

You can decide which areas of your business are at risk and put in place measures to prevent money laundering occurring by using what’s known as a ‘risk-based’ approach using risk assessments.

AML Search v4 helps you to carry out automated risk assessments on your clients.

When you assess the risks of money laundering that apply to your business you need to consider:

  • the types of customer you have
  • where you and your customers are based
  • your customers’ behaviour
  • how customers come to your business
  • the products you sell or the services you offer
  • your delivery channels and payment processes, for example cash, cheques, electronic transfers or wire transfers
  • where your customers’ funds come from or go to
You AML Search v4 Risk Assessment clearly presents the Client Data you have entered and documentary evidence you have added. Risk Assessments are clearly marked as 'Compliant', meaning the Client is compliant with the assessment, or 'Non-Compliant', meaning the Client is not compliant with the risk assessment criteria.

The Risk Assessment result is based upon a broad range of criteria, including Financial Sanctions, Specially Designated Nationals, Politically Exposed Persons, and where Enhanced Due Diligence is selected a comprehensive range of electronic corroborative data is used to confirm the Clients Identity, date-of-birth and Address.
No license fees, upfront costs or per user seat fees, AML Search is a simple pay-as-you use service.

AML Search charges a transactional fee per Risk Assessment which includes the initial CDD and on-going due diligence monitoring and alerts.

Simplified Due Diligence Risk Assessments cost £2.50 and Enhanced Due Diligence Risk Assessments cost £5.00.

Additional volume licensing plans are available for enterprise clients, please contact us for further information.
It is mandatory that CDD is completed prior to commencing a business relationship with a Client.

However, over time the status of your Client can change, equally Financial Sanctions, Specially Designated Nationals and Politically Exposed Persons (PEP) data is constantly being updated.

AML Search simplifies the process of On-going Due Diligence by monitoring the status of your risk assessed Clients, generating warnings and alerts when data or documentation may effect the result of your original assessment.
Yes and No. New regulations make it mandatory to conduct a Risk Assessment on all Clients.

Since 2007 keeping a file copy of a Clients' documents, or Simplified Due Diligence was a process that was an option for a firm.

Changes in the regulations in 2017 now mean that as a part of a firm's Risk Assessment all Clients must be screened to ensure they are not the subject of a financial sanction or a politically exposed person.

AML Search offers both Simplified and Enhanced Due Diligence options as a part of its comprehensive Risk Assessment, allowing you to be able to continue to opt for Simplified Due Diligence where your risk assessment allows for it.

This reduces the cost, time and complexity of your CDD and allows you to continue to demonstrate your compliance with the regulations.
Simplified Due Diligence is typically for 'Low Risk' work or transactions and requires a Risk Assessment, documentary evidence of the Client's Identity and Address, and electronic screening of Financial Sanctions, Specially Designated Nationals and Politically Exposed Persons data.

Enhanced Due Diligence is typically for 'Medium and High Risk' work or transactions and requires a Risk Assessment, and in addition to the documentary evidence and screening required by Simplified Due Diligence additional positive and negative electronic verification of the client's identity, date-of-birth and address.

AML Search provides both Simplified and Enhanced Due Diligence options as a part of our automated Risk Assessment process.

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Find out how simple compliant Client Due Diligence Risk Assessments can be with AML Search v4