Anti Money Laundering

An AML check is an important part in checking customer due diligence to ensure that an individual or a company is not attempting to launder money through your business or company. Anti-money laundering is crucial for a financial institution as it helps detect and prevent financial crime, scam or suspicious activities.

Why businesses should conduct AML checks:

• Screening an individual or a company through an AML check will help to ensure that your business has no involvement in criminal activity.
• Ensures your business is compliant with the legislation and regulations relating to AML and helps you avoid fines and other legal ramifications.

When Should You Conduct AML Checks?

AML checks should be conducted by any company when there is a chance for an individual or a company to clear the hoarded finances or assets off as legitimate transactions. We would recommend mortgage brokers or financial institutions predominantly involved in financial transactions conduct AML checks as part of customer due diligence screening, and as an ongoing check to monitor deposits, transactions, and any suspicious activity.

Why Choose i-PAP To Conduct Your AML Checks?

Leveraging a broad spectrum of technologies - Artificial Intelligence, Machine Learning, Advanced Analytics & Big Data; i-PAP’s Anti-Money Laundering search service, provides information such as financial statements, Source of Funds, and Identity documents also authenticates an individual or a company against money launderers with accuracy.

By signing up at i-pap choosing your subscription plan, you will be able to enter the individual or the company’s name that you to do AML check, along with the NRIC/UEN and specify if you are doing AML check on the person or on the individual form the dropdown. Click ‘submit’ to get the results instantly.

Thus, we protect your business from falling in the trap of money laundering predators.