of firms say they’re re-evaluating their risk appetite due to the uncertain economic environment (ComplyAdvantage)
was stolen in the UK through fraud in 2022 alone
(UK Finance Annual Fraud Report)
of GDP is lost worldwide thanks to money laundering
(UNODC)
surge globally in 2022 for institutions failing to prevent money laundering and other financial crime
(ComplyAdvantage)
Detect and prevent money laundering, ensuring compliance with evolving regulations.
Surface actionable insights from multiple data sources through a single platform to save time and lower costs.
Customise your matching thresholds and receive risk intelligence to identify onboarding challenges before establishing a business relationship.
Build trust from the first conversation and accelerate the onboarding journey without cutting corners.
“We wanted a solution that would expand our product to include identity checking services and we got so much more. FullCircl truly understands our business and what we’re trying to achieve. They’re exceptionally responsive and are playing a key role in helping us."
The prevention of money laundering is one of the top priorities for compliance teams to identify those who pose a risk to the business, whilst ensuring that legitimate customers experience a seamless journey.
Unify PEP data including heads of state, high ranking government figures around the world, regional, current and former PEPs, family members and close associates of PEPs, FATF (Financial Action Task Force) defined PEP categories, and more.
Plug-in to global sanctions lists including O.F.A.C (Office of Foreign Assets Control), US Treasury Department, HMT (His Majesty's Treasury Department), European Union, United Nations, and more.
Access global adverse media data including individuals accused of, arrested, or convicted of serious crimes within five key categories: financial crime, terror, organised crime, trafficking, or corruption.
Simply performing AML checks at the point of onboarding is no longer fit for purpose. FullCircl's platform comes equipped with advanced features to ensure that AML remains at the forefront of priority and gives your compliance team the tools needed to succeed.
Re-screen customers against PEPs, Sanctions, and adverse media lists to identify if any new risks have emerged that pose a risk to your business. Choose the frequency of re-screening dependent on risk appetite.
Create a single customer view and transform your data consumption, enabling you to link AML onboarding and monitoring in a fully automated real-time journey.
Access reporting in a single dashboard including unlimited licenses. Presenting you with an easily digestible snapshot of AML compliance, monitoring performance, remediation, alerts, assigned team members, and more.
At FullCircl, we understand that customer onboarding and identity verification is more than AML. Our platform is designed to include all the checks you need for comprehensive Customer Due Diligence (CDD) through a single access point.
Customer Lifecycle intelligence from FullCircl helps regulated businesses win the right customers, accelerate onboarding and keep customers for life
AML/KYB automation for better onboarding and risk management.
Discover the power of all access automation to the UK’s richest source of company data and intelligence
Access an identity verification platform including global KYC, AML, anti-fraud, document verification, age verification, and more.
Experience FullCircl's capabilities first hand. Sign up for a demo today and see how FullCircl empowers your business to attract ideal customers, streamline onboarding, and foster lasting relationships.
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AML, or Anti-Money Laundering, is a set of regulations and procedures designed to prevent illegal financial activities, such as money laundering and terrorist financing within regulated industries.
The 6th Anti-Money Laundering Directive is a European Union directive aimed at enhacing the EU's AML framework. It introduces stricter rules and measures to combat money laundering and terrorist financing.
AML primarily focuses on preventing and detecting money laundering and terrorist financing, whilst fraud addresses a broader range of deceptive practices that can result in financial loss or reputational damage.
FRAML, or Fusion of Fraud and Anti-Money Laundering, integrates key components such as advanced analytics, machine learning, and behaviour analysis. It combines fraud prevention tools and AML screening software by leveraging shared data and patterns. By examining financial activities holistically, FRAML detects anomalies indicative of both fraud and money laundering, enhancing the overall effectiveness of risk mitigation.
Implementing an effective Anti-Money Laundering (AML) program involves several steps. Companies should begin with a risk assessment to understand current protocols. Once improvement areas have been identified, then move to establishing a Customer Due Diligence (CDD) program, including KYC, and ongoing monitoring. Finally, post onboarding checks should also be considered such as transaction monitoring and ensuring data is securely stored for effective audit management.
PEPs (Politically Exposed Persons) and sanctions are crucial elements in AML. PEPs are individuals with prominent political roles, and sanctions involve restrictions on financial dealings with specific individuals or entities to prevent illicit funds flow.
AML software automates and streamlines AML compliance processes. It helps regulated businesses identify suspicious transactions, screen customers against global PEP, sanctions, and adverse media data, and maintain compliance with AML regulations, reducing manual efforts and human error. Ultimately, AML compliance software enhances compliance whilst allowing businesses to keep ahead of AML regulation.
Many regulated industries such as financial institutions, fintech companies, crypto exchanges, B2B corporates, and more benefit from implementing an AML screening tool. FullCircl and other businesses design these tools to identify and prevent financial crimes, ensuring compliance with regulations and safeguarding businesses from illicit activities.
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