Understanding compliance requirements
Leave your compliance requirements worries with us, while you focus on more important tasks.
Uncertain of what's actually required or if you're doing it correctly?
Source by First AML gives you peace of mind that your AML compliance is sorted, no matter how complex your cases are or when regulations change.
Source by First AML is built to regulation standard, ensuring you collect, verify and process what you need to as per your company's risk appetite. Smart workflows and leading data sources ensure you are always audit-ready without the manual hassle.
As regulations change, so does the First AML platform, so you always have the right information when and as you need it.
Complex and international
Source by First AML's KYB Inspect feature unravels complex entity and ownership structures with a click. You'll receive real-time KYB insight thanks to our unique combination of:
- Embedded domain expertise, in particular for tax efficient/haven countries.
- Optimised waterfall triggers for workflow automation.
- Smart tasks that that trigger based on relevant requirements, compliance standards, entity type and more. Ensuring you meet regulations with minimal effort.
Meet obligations for PEP, sanctions and adverse media monitoring with exception-based alerts sourced from thousands of the most current global lists. Source First AML's offers real-time scanning and automatically flags false positives, ensuring that you're meeting standards and only addressing anomalies rather than overwhelming AML white noise.
You don't always need both SoW and SoF. The First AML platform removes the uncertainty, ensuring you conduct checks properly without being over- or under-compliant, even when regulations change.
First AML delivers this through:
- Manifest, a smart task list that ensures a client is only asked for what's required.
- technology embedded expertise for both old and new forms of wealth and their wider ecosystems.
- automated communications, to enable customers to upload appropriate evidence as required.
Remove uncertainty and cost with First AML. Access the cleanest, most relevant and up-to-date datasets from hundreds of government, consumer, credit, PEP and sanctions data sources, as well as thousands of adverse media sources.
Using Source by First AML removes the need to pay and engage with numerous third parties and supports full auditability.
Trusted by local and global companies
Publications on understanding AML compliance requirements.
How to Win at AML Compliance
Getting your AML compliance right can be a challenge. Here are practical ways to make it easier for you.
4 ways to meet AML requirements without the pain
AML pain usually falls into two camps - cost and clarity. We’ve collated some of our best local advice to help you have a less painful compliance journey.
Tax Havens: the wealthy, the bad and the ugly
What's an MLRO to do when a client has a complex or opaque structure, with multiple layers of ownership and shareholdings in a tax haven country?
Your Complete Guide to Setting Up a Successful AML Compliance Programme
This guide breaks down the steps your business needs to take when setting up a successful compliance programme. Here’s what you need to get in place for upcoming AML changes.
Read the guide.
The Ultimate AML Cheat Sheet for Compliance Officers & Teams
Here is First AML’s advice on how to deal with the most common problems compliance teams face when verifying their clients.