The term "money laundering check" or "anti-money laundering check" refers to the structured review of customers, business partners, transactions, beneficial owners, and related parties to identify potential risks linked to money laundering, terrorist financing, sanctions violations, or other financial crimes. AML software helps organizations such as banks, insurers, fintech companies, real estate firms, payment providers, crypto platforms, and regulated businesses comply with legal obligations, assess risks consistently, and document suspicious activities in a traceable manner.
KYC and KYB Checks: Capturing and verifying individuals, companies, organizations, and beneficial owners.
Sanctions Screening: Matching customer and business partner data against national and international sanctions lists.
PEP Screening: Identifying politically exposed persons as well as their close associates and related parties.
Risk Scoring: Classifying customers, transactions, and business relationships based on defined risk indicators.
Transaction Monitoring: Analyzing payments, unusual activity, and suspicious transaction patterns.
Identity Verification: Supporting the review of identity documents, company records, registry data, and digital identities.
Ongoing Monitoring: Continuously reviewing existing customer relationships and triggering reassessments when relevant data changes.
Case Management: Managing, reviewing, and documenting alerts, investigation results, and suspicious cases.
Reporting and Audit Trails: Creating reports, evidence records, and audit-proof documentation for compliance reviews and regulatory inspections.
A bank checks whether a new corporate customer appears on a sanctions list before opening an account.
A real estate company verifies buyers and beneficial owners before completing a property transaction.
A payment provider monitors transactions that significantly differ from a customer’s usual behavior.
An insurance company performs PEP screening for a new business partner.
A compliance department documents suspicious activity in a case management system.
