Software Update - 26th November 2023

On Sunday 26th November we will release a software update with a number of new features and enhancments that have been requested by our community of customers.  If you have any features that you would like considered for a future release, please contact one of our team directly or send an email to info@amlhq.com.

A summary of the enhancements included in this release is as follows: 

1. Staff can now digitally sign their annual training declaration from within the AML HQ training hub. They no longer need to download, print, sign, scan and upload their annual AML training confirmation. The annual declaration is an important AML compliance element and confirms your team have access to, and understand your AML Policies, Controls and Procedures manual; are aware of their obligations and have received appropriate training.  Digitally signed declarations are automatically stored in the training log and are ready for AML inspection.
2. Our Advanced Identity Verification process has been overhauled to provide an enhanced user experience for your clients that will also improve the success rate of identity verifications.  We have also added more information and made aesthetic improvements to our standard identity verification certificate.  This helps to further evidence due process at your next AML inspection. 
3. A significant upgrade has been applied to our PEPs and Sanction screening service.  Our service is now supported by a global team of analysts who are monitoring and maintaining the database of Politically Exposed Persons and Sanction lists.  Our service uses enhanced algorithms to produce more accurate PEP / Sanctions screening results and reduce false positives.  The cost of each individual search will be €1.00 from the 26th November. 
4. It is now easier to inspect Client's identity and proof of address documents. We have introduced inline viewers that allow you to zoom, rotate and pan the images provided by your Clients. 
5. We have made improvements to our bulk import facilities to provide further support for Clients who want to import legacy Client information.

Keep reading for further information on the above enhancements.

Digitally sign Annual Training Declarations

Within the AML Training Logs, staff can now digitally sign their annual AML training declarations via the new "Sign training confirmation button".

This new button will launch a screen requesting the staff member to review the populated information before signing the annual declaration.

When the staff member clicks the "Sign training confirmation" button a digitally signed (PDF) is created and added to their AMl HQ training log.  This makes it simple to have the training log and supporting document up to date and ready for inspection.

Enhancement to our Advanced Identity Verification Process

We are adding further improvements to our advanced verification service.  In this release, we have:

1. Simplified the identity verification process to reduce customer friction and improve the client success rate (estimated at 95%).
2. Improved customer experience by reducing the number of steps and providing better onscreen guidance and real-time feedback.
3. Retained Global coverage for the capture and verification of identity documents.
4. Enhanced the approval process for you to complete the AML obligation to digitally certify ID / POA documents received from your client.
5. Improved the export certificates when required to evidence due process during an AML inspection.

Again no action is required by you and any existing Identity Verification Sessions that have been sent to your clients, or are In Progress will work seamlessly on the new process.  The advanced identity verification service remains as an opt-in service and the price for each advanced identity verification is €5.00 (reduced from €10.00 earlier in the year). 

Enhancement to our PEP/Sanctions screening service

Significant enhancements have been made behind the scenes where we have selected a new partner to provide global coverage with best in class data.  The service is supported with a panel of expert analysts that monitor and update the database based on the ever changing PEPs/Sanction determinations.   The service remains as an opt-in service and the price for each individual search will be €1.00 from the 26th November.  The process of initiating PEPs & Sanctions screening remains unchanged when adding a new Client.

In the above scenario, the system guides you through any possible matches for the individuals where you have requested a PEP/Sanctions search.  You then have the opportunity to use the information returned onscreen (and in the attached report) to determine if the individual is a PEP or Sanction listed individual.

In the following search for Ben, you can see that no possible results were found:

However, for Richard, one potential match was found. 

From the thumbnail picture and nationality I was able to determine that this is not our Client; however, if I was not sure, I could download the report which provides me with further information to determine if this possible match is a positive match or not of interest to me.

A change from the existing PEP/Sanctions check is that the system will never automatically mark an individual as a PEP/Sanctions listed individual.  It will present you with possible matches and you will need to tick the appropriate box to indicate your determination if they are a PEP or Sanction listed individual.

How are searches conducted?

Searches are based on the information held on file for the individual / associated party.  We will use the persons name and if there is a date of birth on file it will be included as a search parameter.  We do not filter on nationality as we found that potential positive results can be ommited if an individual has links to multiple jurisdictions.  Results are returned based on the algorithm's calculation name pattern matching and the individuals date of birth.

More information on the sources of our PEP and Sanctions data is available here: PEP and Sanctions sources