IMPROVING PRACTICES AND PROCESSES TO PROTECT YOUR ORGANISATION

Businesses are under increasing pressure to ensure their Anti-Money Laundering (AML) processes are not only compliant but protect their organisation and customers from risk whilst mitigating losses. Knowing who you’re dealing with has become essential in order to protect your organisation against unwanted risk and to ensure regulatory compliance. The Financial Action Task Force (FATF) sets standards to combat money laundering and terrorist financing, and has ongoing mutual assessments to inform its recommendations to improve AML practices on a global basis. Keeping up to date with the pace of change, and adjusting the processes and practices can be a significant challenge for businesses.

LAUNDERED IN THE UK PER YEAR

Around £48 billion is laundered in the UK each year (around 2% of UK GDP)

UK LOSSES PER YEAR

Money laundering is a critical enabler of serious and organised crime, costing the UK an estimated £24 billion a year

STAFF SCREENING

Updated money laundering regulations in 2017 require staff to be screened before and during an appointment

SOLUTIONS TO COMBAT FINANCIAL CRIME AND MEET YOUR REGULATORY COMPLIANCE COMMITMENTS

Synectics Solutions has developed sector leading tools to support your AML strategy and the analysis and support you need in order to combat fraud and financial crime and ensure the identity and status of those you are dealing with. Our solutions will support aspects of your AML work, from employing the right people, engaging the right customers in the best way and stress-testing your decisions and processes with comprehensive data tools and insights.


Our solutions combine a breadth of tools and data to ensure you have a 360 view of your customers and employees data to help you minimise risk and meet regulatory requirements. These include:


Enhanced Digital Profiling

Digital verification checks to give you a complete view of your customers’ digital history including email, device and mobile intelligence.

Cifas Data

Access to thousands of confirmed fraud cases from the public and private sectors.

DDRI

Disclosure of Death Registration information to assist you in the prevention, detection and investigation of fraud and risk, which is particularly useful in helping you identify impersonation of the deceased.

PEPs and Sanctions

Politically exposed person screening, which includes intelligence on relatives and close associates and special interest persons. Sanctions checks help ensure you remain compliant and reduce the risk of your business being exposed to harm.

Connection 2

Business and Directorship Checks

Screening data linked to business professionals and organisations including accounts and credit summary data.

National SIRA

The UK’s leading fraud and risk prevention and detection database contributed to by over 100 organisations. It provides access to known adverse and criminal intelligence supplied and constantly updated by the entire SIRA syndication membership.

Identification and Verification Checks

A comprehensive range of data sources to ensure that you gain the necessary insight and confidence that your customers are who they say they are. Confirm an applicant’s name, address, bank account information and the presence or absence of any adverse public data. This can help to streamline your customer boarding processes while mitigating risks, fraud or financial crime.

25 years'

Experience


We have over 25 years’ experience of working with leading banks and financial services providers, retailers, telecommunications companies and public sector organisations

50+

Data sources


Clients can enrich their intelligence with over 50 different private sector data sources to get a more informed view of their customers

£3 billion

FRAUD PREVENTED


National SIRA – the UK’s leading fraud prevention database have helped prevent in excess of £3 billion in losses to financial crime

"Organised crime groups are making use of new technology, the dark web, and the increasing availability of electronic data within businesses, meaning organisations can be routinely targeted. Their main aim is to get access to products and services to either commit fraud, facilitate fraud or for high end money laundering activity."

CONTACT US

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