What is AML Screening ?

In accordance with AML guidelines, AML screening is a method for assessing the risk of an organization's existing or potential customers.

Businesses use AML screening to make sure that their customers do not appear on sanctions lists, PEPs, banned or wanted lists, or adverse media reports. In order to comply with AML laws, you must screen your customers.

The Objective of
AML Screening

Three main objectives are achieved through AML screening

Analyze the Risks
Make sure Sanctions are not Violated
Avoiding Regulatory Fines

When to Perform
AML Screening ?

Businesses are required to screen their customers for AML in several instances.

When opening an account, companies must perform AML screening When opening an account, companies must perform AML screening

Over time, the risk levels of customers change. Regularly screening customers is the most reliable way to assess their risk level. Over time, the risk levels of customers change. Regularly screening customers is the most reliable way to assess their risk level.

As part of their employment processes, businesses must conduct AML screening As part of their employment processes, businesses must conduct AML screening

Any company doing business with a firm must also conduct AML screening on its ultimate beneficial owner. Any company doing business with a firm must also conduct AML screening on its ultimate beneficial owner.

How AML Screening
is Performed ?

The first step in performing AML screening of an individual is to obtain the full name and date of birth of the individual. AML screening solutions ensure that the name of the person is not listed on any sanctions or watch lists by screening it against a multitude of sanctions and watch lists.

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AML Screening