Name: SmartSearch AML
Author: SmartCredit/SmartSearch

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SmartSearch AML is an electronic compliance solution that, according to the vendor, offers comprehensive anti-money laundering (AML) checks and verification services for individuals and businesses. The product caters to businesses of all sizes, from start-ups to corporate giants, and is widely utilized by professionals in the legal, accountancy, property, finance, and insurance industries.

**Key Features**

**Individual and business AML checks for compliance**: SmartSearch AML enables users to perform AML checks on individuals and businesses by inputting their name, address, and date of birth. The system conducts automatic worldwide Sanction and Politically Exposed Person (PEP) screening, providing prompt pass or refer results.

**AML compliance for UK and international coverage**: SmartSearch AML integrates multiple data sources to verify international individuals and businesses, adhering to the same rigorous standards used for UK checks. It takes into account regulatory, cultural, and technological variations across countries.

**Monitoring and retrospective checks**: Following the initial AML checks, SmartSearch AML continues to monitor clients on a daily basis, issuing alerts for any changes in Sanctions or PEP status. The system also offers retrospective checks to ensure ongoing compliance.

**Enhanced Due Diligence**: In the event of a client matching a Sanctions or PEP list, SmartSearch AML triggers Enhanced Due Diligence, conducting further investigation to eliminate false positives. Users are alerted only if manual intervention is necessary.

**TripleCheck: Verification & Screening**: SmartSearch AML's TripleCheck feature leverages dual-bureau AML service to perform a comprehensive AML check, including Sanction and PEP screening, in less than 2 seconds. It generates an AML certificate with the check outcome.

**TripleCheck: Facial Recognition**: With TripleCheck's facial recognition feature, users can verify the authenticity of photo IDs and Selfie Liveness Videos (SLV). The system employs OCR and biometric facial recognition techniques to ensure document and image genuineness.

**TripleCheck: Fraud Checks**: TripleCheck's fraud checks feature combines key digital elements (DEs) to calculate an overall risk score. The system provides a detailed dashboard with information to support additional due diligence.

**Multiple solutions all on one platform**: SmartSearch AML offers a range of solutions on a unified platform, including triple bureau service, high match-and-pass rates, an efficient and cost-effective compliance process, smoother customer onboarding, product training, ongoing support, and preparation for internal audits and regulatory visits.

**Integration capabilities**: According to the vendor, SmartSearch AML seamlessly integrates with existing systems, allowing users to conduct AML checks using their own data files. Integration can be completed within 24 hours, minimizing disruption to client onboarding and enhancing AML compliance convenience.

**Mobile app for on-the-go AML checks**: SmartSearch AML provides a fully-integrated mobile app that, as claimed by the vendor, enables users to perform AML checks anytime, anywhere. By entering the client's details, the app delivers prompt pass or fail results directly to the user's handheld device.

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SmartSearch AML

Fraud Detection Software, and Risk Management Software, are systems designed to detect and prevent fraud in real time and secure web, mobile, and phone transactions. These platforms are tailored to the needs of financial institutions and also retail organizations who sell online, and may vary in scope along the needs of their intended users.

SmartCredit/SmartSearch

The SmartSearch App for Anti Money Laundering checks on the go

Fraud Detection Software Features

Features related to products that help users with fraud detection.

Anomaly Detection

The software uses advanced algorithms to identify patterns of behavior that deviate significantly from the norm, enabling detection of fraudulent activities.

Timely Monitoring

The system constantly monitors transactions and activities as they occur, providing immediate alerts for any suspicious or potentially fraudulent behavior.

ID Verification

The software incorporates robust identity verification mechanisms such as KYC (Know Your Customer) processes and multi-factor authentication to ensure the legitimacy of users.

Data Analysis and Pattern Recognition

Utilizing machine learning techniques, the software analyzes large volumes of data to identify patterns and correlations that may indicate fraud.

Rule-based Alerts

The system can be configured to generate alerts and notifications based on predefined rules that indicate suspicious or fraudulent behavior.

Investigation Tools

The software provides tools and workflows to manage and investigate potential fraud cases, allowing users to document findings, collaborate, and initiate appropriate actions.

External Data Integration

The system can connect with external databases, APIs, and third-party services to gather additional information and enrich the fraud detection process.

Compliance and Regulatory Support

The software incorporates features to help organizations meet compliance requirements and adhere to regulatory frameworks in the context of fraud prevention and detection.

User Interface

The software provides an intuitive and easy-to-use interface with interactive dashboards, allowing users to quickly navigate, access relevant information, and take necessary actions.

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SmartSearch AML

Overview

What is SmartSearch AML?