Anti-Money Laundering (AML) Software

Best Anti-Money Laundering (AML) Software include:

Encompass, Fiserv AML Risk Manager, PassFort a Moody's Analytics solution, TaxCalc, Refinitiv World-Check Risk Intelligence, Oracle Anti–Money Laundering (AML) Compliance, ACAMS Risk Assessment and ComplyAdvantage.

All Products

(1-25 of 130)

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ComplyCube

ComplyCube is an identity verification platform that automates Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance for businesses. It offers features that enable businesses to verify customer identities through ID documents, biometrics, and government databases.The…

2
CSI WatchDOG

Computer Services, Inc (CSI) headquartered in Paducah, offers the WatchDOG suite of financial risk management applications for banks and financial services enterprises, providing compliance news and management, regulation management, and related features.

3
AnChain.ai

Based in Silicon Valley, AnChain.AI is a blockchain analytics company that specializes in AI-powered platforms. AnChain.AI provides around-the-clock protection, securing crypto exchanges, protocols, and DApps worldwide for several millions of dollars in weekly transaction amounts.…

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4
Encompass

Encompass offers automation capabilities and access to global data sources. Their know your customer (KYC) and anti-money laundering (AML) platform empowers organizations to streamline time-consuming KYC processes and demonstrate AML compliance, from UBO verification and KYC remediation…

5
Coinbase Tracer

Coinbase Tracer (formerly Coinbase Analytics) supports crypto compliance for governments, financial institutions, and crypto businesses, and connects cryptocurrency transactions to real-world entities using public blockchain attribution data, enabling users to monitor risk on millions…

6
Onfido

Onfido simplifies identity verification with a platform used by over 900 businesses with the goal of navigating KYC and AML requirements, stopping fraud, and delivering exceptional onboarding experiences.

7
Dow Jones Risk & Compliance

The Dow Jones Risk & Compliance division combines the expertise of a multilingual team of 450 researchers and analysts with automation and artificial intelligence tools. The solution aims to deliver reliable, actionable information and applications that are developed specifically…

8
INEO
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INEO (formerly Lending Solution) offers anti-fraud and digital onboarding services built in to its financial services CRM. INEO solutions support both in presence and remote customer onboarding, with an omnichannel approach and management of customers and integrating the various…

9
Global Ledger
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The Global Ledger is a crypto AML compliance toolset that allows government agencies, banks, fintech companies and crypto startups to access AML risk assessment, surveillance, and investigations for blockchain-based assets.

10
Themis Search & Monitoring

Themis is an AI powered digital financial crime platform that helps clients manage their financial crime risk exposure. The SaaS KYC and AML platform enables: screening & 24 hour monitoring against sanctions watchlists, PEPs, Litigation, Litigation, Adverse Media, Criminal Convictions,…

11
Tecalis Identity Verification

Tecalis Identity Verification is a digital onboarding solution created for any risk level and use case.

12
Tecalis Anti-Fraud Controls

Tecalis Anti-Fraud Controls help users to establish automated risk management and data handling processes to prevent fraud on all channels. It provides OCR based data extraction with no human intervention while processing identifying documents.

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ScanWriter
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Nethone Guard
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Clari5 Customer Due Diligence

Clari5 provides Financial Institutions a lifecycle assessment and re-assessment of customer risk as part of know your customer (KYC) applicant on-boarding and ongoing customer due diligence processes. The solution streamlines money laundering risk assessment, improves customer…

17
Finchecker
0 reviews

Finchecker is a technical and legal toolkit for all KYC/ KYB & AML needs. By providing a customizable compliance solution that addresses a particular business process, the solution helps automate any compliance process, and it comes with technical support during the integration.…

18
SwiftDil
0 reviews

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AML-TRACE
0 reviews

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Veratad
0 reviews

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KROTON
0 reviews

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RiskScreen
0 reviews

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KYCnow
0 reviews

Learn More About Anti-Money Laundering (AML) Software

What is Anti-Money Laundering Software?

Anti-Money Laundering (AML) Software identifies suspect customers and suspicious financial transactions to prevent money laundering and other financial crimes. It provides companies with the tools to meet legal and regulatory requirements regarding money laundering oversight, the most notable of which is the Bank Secrecy Act (BSA). It supplies Know-Your-Customer (KYC) / Know-Your-Business (KYB) capabilities, monitors financial transactions (Know-Your-Transactions - KYT), offers Currency Transaction Reporting (CTR), and assists in AML compliance management.

Money laundering is an attempt by criminal organizations and individuals to disguise their ill-gotten gains from financial crimes and illegal activities, including human and drug trafficking, corruption, and tax evasion. The software helps prevent these funds from being used to further the illegal activities of crime and terrorist organizations.

AML databases are used to support watch list scanning for sanctioned countries, organizations, and individuals. The software is used by financial professionals, and risk, fraud, and compliance managers in the banking, FinTech, payment, investment, wealth management, real estate, crypto trading, and gaming industries. The software is closely related to Identity Verification Software, as a key component of AML is identity verification. The software is also related to Fraud Detection Software and Governance, Risk & Compliance Platforms.

Anti-Money Laundering Software Features

Anti-Money Laundering Software includes many of the following features.

  • KYT (Know-Your-Transaction)
  • Real-time transaction monitoring
  • Transaction alerts, dashboards, and suspicious activity reporting
  • KYC (Know-Your-Customer)
  • ID verification tools
  • KYB (Know-Your-Business)
  • AML databases or API access for country and organizational sanctions and watch lists such as OFAC, EU sanctions list, UN terrorism list, and global law enforcement lists.
  • PEP (Politically Exposed Persons) – Individual sanctions lists
  • Real-time sanction, watch list, PEP, and adverse media scanning
  • KYT and KYC workflows
  • Investigation and case management tools
  • Custom flagging rules and risk classifications
  • Risk assessment and scoring tools
  • Suspicious customer behavior, transaction analytics, and AI
  • Trend analytics
  • AML compliance management and reporting
  • AML regulatory requirements and information
  • On-premises and cloud-based offerings

Anti-Money Laundering Software Comparison

Consider the following when purchasing Anti-Money Laundering Software solutions.

Use Case: Some AML products support a broad range of financial applications, while others focus on specific businesses such as correspondent banking, crypto trading, or specific geographical regions such as the EU.

Scope: Stand-alone AML products usually offer the most comprehensive and robust features, however depending on your needs, many large fraud prevention, claims management, financial compliance, and GRC platforms offer AML modules within their products.

Scale: AML software supports everything from large complex financial institutions to small FinTech startups. Flexible solutions are available with features and costs that readily align with your needs.

Advisory Services: Some vendors offer AML consulting, legal services, and expertise along with their products.

Pricing Information

Pricing can be driven by the number of transactions or API calls, validation rules and AML databases supported, features provided and level of customer support. Limited plans begin at under $100 a month and more comprehensive solutions can easily exceed 1,000 a month. Most vendors require a quote for their AML software products and services. Free trials are available

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Frequently Asked Questions

What does Anti-Money Laundering Software do?

Anti-Money Laundering (AML) Software flags suspicious transactions, preventing money laundering and helping to deter financial crimes and terrorism funding. Its real-time scanning of country, organizational, and individual sanctions list produce alerts for follow-up and investigation. It uses AI and analytics to identify suspicious customer behavior and suspect transactions. Its reporting features support AML regulatory compliance.

What are the benefits of using Anti-Money Laundering Software?

Anti-Money Laundering (AML) Software protects brand reputation and company finances, preventing losses. It automates and streamlines AML oversight, minimizes false positives, and facilitates regulatory compliance and reporting. It supports risk mitigation and helps to prevent fraud.

How much does Anti-Money Laundering Software cost?

Most vendors require a quote for their AML software products and services. There is a wide range of pricing depending on desired features and the transaction volumes supported. Free trials are available.