Shielding your business

from money launderers

Faced with tough new Anti-Money Laundering regulations, law firms must now run checks on clients to ensure they have not been involved in the proceeds of crime. Failure to adhere could lead to severe consequences. Employees risk fines or imprisonment,and not least – untold damage to their firm’s reputation

To help you comply with this legislation, WHITEFIELD LEGAL SERVICES introduced AML Search – a fast, effective anti-money laundering solution. Competitively priced, it is fully compliant with both the Law Society and Joint Money Laundering Steering Group guidelines, and maintains a full audit trail. Needing no specialist training, the system is a simple checking tool before carrying out financial transactions for your clients, such as: conveyancing, real estate, probate and company formations.

How does it work?

A user-friendly system, AML Search operates on a risk-based approach in line with 2007 Money Laundering Guidelines. With the ability to swiftly ‘interrogate’ a wide range of approved data sources, AML Search returns personal (individual) and non-personal (organisational) searches within seconds. A clear ‘Pass’ result indicates the subject has been verified – leaving no grey areas and nothing open to interpretation. A ‘Refer’ result simply requires more data to complete the search.

How are the results presented?

AML Search produces a detailed PDF report detailing each record uncovered by the search, including: times, dates, account status and reference numbers where appropriate. With an automatic audit trail, the stored PDF report is ‘guideline compliant’ – and available for instant recall or audit.