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.
Three main objectives are achieved through AML screening
Businesses are required to screen their customers for AML in several instances.
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.