Compliance Management Made Easy
AML HQ's solution helps regulated entities in various industries with their Anti Money Laundering obligations. Such industries include banking, real estate, payments, insurance, investments, and credit unions.
Our solution allows you to streamline your compliance process and meet your Know Your Customer obligations through a risk-based approach and the application of proportionate due diligence. If you’re time-poor and would like to avoid the hassle of manual processes, our simplified workflows will quickly verify customer information from initial onboarding to ongoing customer due diligence.
We equip compliance teams with the tools and knowledge to tailor their Anti Money Laundering compliance process. Our user-friendly solution offers self-service capabilities and intelligent alerts for case management, audit review and CPD training.
How we help Financial Firms and Obliged Entities
Onboarding in Minutes
Take the delay out of manual onboarding. Our solution completes individual and corporate searches in seconds, allowing you to verify your clients all in one place, streamlining customer onboarding and reducing time for KYC checks.
Client Due Diligence
Always know who you are doing business with, from private to corporate clients including beneficial owners, we have you covered.
Compliance Ready Audit Process
We retain Customer Due Diligence information and document the steps taken during your compliance process. You can access instant reports that provide audit-ready extracts and compliance gap analysis.
Mitigate Compliance Risk
Reduce the need for manual checks with different providers and remove the need for data entry. Staff no longer risk inadvertently inputting errors or omitting key information. Our process is standardised with a series of checks which creates efficiency and reliability.
Simplified AML
Workflow
Our centralised solution provides a single, secure place to onboard clients quickly and easily, with no technical integration needed. Simply create your account and start adding clients.
Comply with ongoing AML Regulations
Most firms don’t have large compliance teams and processes in place to abide by the regulations. AML HQ's platform is continuously updated to be in line with The Central Bank of Ireland, ensuring your firm meets continual KYC obligations easily, quickly and cost-effectively.
Risk assessments are essential, but they don’t have to be difficult.
Anti-money laundering risk assessments are an essential regulatory requirement. Every practice must adopt a risk-based approach and conduct risk assessments at a both a firm-wide and individual client level.
AML HQ provides you with intelligent risk assessments to help you quickly identify risks and document due process.
Risk Assessments help to:
- Assess the level of risk associated with their firm
- Use a risk-based approach to prevent money laundering
- Create robust policies, procedures, and controls that actively reduce the risk of financial crime
- Make informed decisions about clients
- Evaluate risk reduction measures
- Identify transactions and relationships that involve an at-risk or sanctioned party measures
Tailored policies and procedures to suit your firm
Firms must establish and maintain a framework of policies, controls and procedures to mitigate and manage the risks of money laundering. The framework should be proportionate to the size and nature of the business.
AML HQ provides you with a full framework of policies, controls, and procedures that can be tailored to your firm's requirements. We will notify you with updated guidance from your professional body or competent authority.
Our policies, controls and procedures cover every area of anti-money laundering compliance your firm might need to consider:
- A risk-based approach
- Client due diligence
- Record keeping
- Internal controls
- Ongoing monitoring
- AML Training
- Reporting procedures
- Compliance management
Fast, simple and secure identity verification
Effective identity verification is a key AML defense. By knowing who owns and controls a client, a firm not only fulfills its legal and regulatory requirements, it equips itself to make informed decisions about the client’s standing and risk.
AML HQ helps you onboard clients quickly and securely by using a combination of digital, physical, and biometric checks.
Our client due diligence process can be tailored to suit your needs and includes:
- Official company information checks
- Beneficial ownership verification
- Document proof and data extraction
- Biometric facial recognition
- Liveness check includes video and motion capture
- Configurable sanctions and PEP & screening
Compliant by design, make monitoring visits as painless as possible
AML inspections and monitoring visits can consume firms. Our automated processes help you stay on top of your compliance obligations.
At any time you can run instant reports and identify compliance gaps. At the touch of a button, our software allows you to produce comprehensive auditor extracts to evidence and demonstrate compliance.
If you have an AML query or an upcoming inspection our dedicated compliance team are always at the end of the phone.
Our tailored processes help you:
- Assess compliance and achieve compliance assurance
- Identify compliance gaps
- Ensure CDD documentation and evidence are readily available for inspection
- Review and respond to changes in your practice and legislation
- Access our dedicated AML compliance hotline
CPD content tailored to fit your needs
All professionals should receive continuing professional development (CPD) appropriate to their role. AML HQ provides you with the ability to track your staff’s training schedules and identify if there are any training gaps.
AML HQ provides access to a series of online CPD training webinar videos, on a variety of essential subjects and topics.
Each CPD course gives you access to:
- Virtual CPD courses and webinars
- Download supplementary training documentation
- Regular reviews and updates
- Documented training records
Testimonial
Just what we were looking for. A simple, intuitive, and affordable solution where we can manage all our Money Laundering obligations. Onboarding is now frictionless and painless for both the team and our clients.
Ken Keehan, CEO at DevCom Capital
FAQ
A risk-based approach (RBA) is having an understanding of the money laundering and terrorist financing risks they are potentially exposed to and mitigating those risks by applying anti-money laundering and counter-terrorist financing controls and measures. To adopt a risk-based approach is to:
- recognise the existence of risk(s)
- undertake an assessment of the risk(s)
- develop strategies to manage and mitigate the identified risks
The difference between Client Due Diligence (CDD) and Enhanced Due Diligence (EDD) is the risk level of the client being onboarded. CDD must be conducted prior to entering a business relationship or prior to carrying out an occasional transaction or a service. If the client appears to be low risk, CDD is sufficient. However, if during the onboarding process the client appears to be a higher risk then EDD must be applied where additional checks must be sufficed before conducting business with them. A risk-based approach (RBA) is essential when determining if a client requires CDD or EDD.
Beneficial ownership, as defined in Article 3(6) of the 4th Anti-Money Laundering Directive (4AMLD), is any natural person or persons who ultimately own or control a legal entity. This can be either through direct or indirect ownership of a sufficient percentage of the shares or voting rights, such as:
- Direct or indirect ownership of more than 25% of a company or societies shares or
- Controlling directly or indirectly more than 25% of a company.
Or control via other means including:
- Through a shareholders agreement,
- The exercise of dominant influence or
- The power to appoint senior management.
Let's Chat
In just 15 minutes, we cover everything you need to be AML compliant.
