Let Experian help with your compliance needs

Complying with the UK's stringent, ever-changing Anti-Money Laundering (AML) and Know Your Customer (KYC) guidelines can feel tough at times, especially in an evolving digital landscape and with departmental budgetary constraints. But with a customisable toolset, you can still develop good governance and risk quantification at a price you can afford.

Anti-Money Laundering: Know Your Customer

Due diligence checks to verify customer identities are essential in any organisation covered by money laundering regulations. Not just because such checks are required by UK law, but because they protect your business from investing in bad credit risks and the financial losses they often bring. Worse, serious breaches could lead to reputational damage, significant fines and even prison terms…

Discover AML compliance solutions
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Affordable and quick ID checks

Sometimes enforcing the rules is only half the battle. Getting business buy-in to combat an invisible threat isn’t always easy, especially if verification methods disrupt the onboarding process. Thankfully, customer ID and address checks can now be done by cross-checking data against reputable online sources. This means that, in most cases, the customer doesn’t need to supply documentary proof, making the ID check experience easier for them while remaining thorough and affordable for you.

Solutions for affordable and quick ID checks

CrossCore Identity Services for KYC allows quick and efficient onboarding whilst protecting you against fraudulent activity.

CrossCore Identity Services for KYC

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Off-the-shelf or bespoke solutions

Depending on your budget and needs, you can tailor some authentication packages so that you only pay for those elements you need. Experian’s Authenticate, for example, can be supplied in a simple, generic form or delivered as a fully customised solution. This enables you to decide which of Experian’s data sources are most relevant to your products and how best to use them.

Off-the-shelf or bespoke solutions

CrossCore Identity Services for KYC allows quick and efficient onboarding whilst protecting you against fraudulent activity.

CrossCore Identity Services for KYC

Woman authenticating her identity online with her mobile phone

UK and international checks

If you’re operating in the UK and overseas, it’s important to ensure that your international customers also comply with KYC regulations. If this sounds like your setup, then Experian’s ProveID may be right for you. It offers access to one billion searchable records from premium data sources from the UK and around the world.

Solutions for UK and international checks

CrossCore Identity Services for KYC allows quick and efficient onboarding whilst protecting you against fraudulent activity.

CrossCore Identity Services for KYC

Get global UBO and shareholder data, with full coverage in all 195 countries worldwide, including screening against PEPs and Sanctions lists.

International Financial Crime Checks

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IT-free options

At times, slotting in KYC checks can produce resistance from IT managers, particularly if they’re already managing a full project workload. An online solution that offers direct access or integration options is ideal in these scenarios. Experian’s ProveID offers a flexible way of ensuring you’re covering your KYC obligations without impacting existing business infrastructure.

Solutions for IT-free options

CrossCore Identity Services for KYC allows quick and efficient onboarding whilst protecting you against fraudulent activity.

CrossCore Identity Services for KYC

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Know Your Business

Combining KYB and KYC due diligence, our tools help verify businesses by applying multiple layers of risk detection to fully understand if the business or the owner is engaged in suspicious activity. Experian provides access to the most comprehensive breadth of data sources in the market. Multi-sourced data corroboration is critical for understanding customers and exposing hidden risks.

Related links

Can using multi-source data help detect financial crime?

Why multi-sourced third party data is key for detecting and preventing financial crime

Giving financial crime the red flag

How can we help?

Know Your Business (KYB) helps you to verify the identity of a business and the people who own or control it using multi-source data corroboration and key-party screening.

Know Your Business

Man looking at data on multiple devices

Mule Score

Experian Mule Score analyses both the payer and the payee account opening history, turnover activity, and modelled characteristics of confirmed mule cases. The machine learning-powered solution enables banks to assess their entire portfolio so they can easily spot questionable account activity.

How can we help?

Experian Mule Score is our latest fraud detection solution that will help all current account providers in the UK protect consumers from APP scams.

Experian Mule Score

Further reading on AML KYC

Get in touch

We can tailor our AML KYC solutions to meet your business needs. Let's talk.

Speak to an expert

Anti-Money Laundering: watchlist screening

AML watchlist screening is an efficient way to protect your operation from financial criminals no matter where they are. Depending on your chosen implementation, AML watchlist screening can be used to identify customers or employees whose names appear on lists of known money launderers.

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Check for known criminals

AML watchlist screening is a highly effective data source to use as part of the ID verification process during customer enrolment. It cross-references applicants against a database of known money launderers, enabling you to take appropriate action if a match is found.

Solutions for checking known criminals

Hunter prevents application fraud by highlighting suspicious applications, allowing you to investigate and prevent fraud without inconveniencing genuine customers.

Hunter

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Verify employee records

You can also make use of AML watchlists to screen employees working in regulated sectors. This enables you to identify high-risk individuals and helps organisations to fulfil compliance and anti-money laundering (AML) obligations. One option that offers all this functionality is Experian’s Sanctions File Check, which is an invaluable employee screening solution for businesses in the financial sector, as well as any position that involves the handling of money, client accounts or sensitive data.

Solutions for verifying employee records

Hunter prevents application fraud by highlighting suspicious applications, allowing you to investigate and prevent fraud without inconveniencing genuine customers.

Hunter

Further reading on watchlist screening

Get in touch

We can tailor our watchlist screening solutions to meet your business needs. Let's talk.

Speak to an expert

Identity regulation

One of the best ways to guard against identity fraud is to make sure your ID verification processes are aligned with the UK government’s Good Practice Guide 45 (GPG45) and guidance from the Joint Money Laundering Steering Group (JMLSG). Fortunately, there are numerous ways you can achieve that…

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Identity proofing

According to the government, the number of identities being used to commit ID fraud is growing every year in the UK. But by following its best-practice guidelines, you can make sure that customers are who they say they are. A trusted identity authenticator and data provider like Experian can provide ID proofing services that include real-time assessment of personally identifiable information to meet GPG45 and JMLSG Know Your Customer guidance.

Solutions for identity proofing

Bank validation and payment processing services for your business. Make the connection between your customer & their bank account details.

Bank Account Verification and Validation

Instant document verification for your business. Reduce risk and provide a positive experience for your legitimate customers.

Document Verification

Colleague in an office discussing bespoke ID checks

Bespoke ID checks

It’s also worth considering solutions that enable you to add in extra checks. For instance, you may wish to cross-reference IDs against demographic and credit data or include velocity checks to identify irregularities in purchasing behaviour. You can also use services to investigate linkages – fraudulent or genuine – associated with the claimed ID. A specialist provider like Experian can tailor its ID checks to satisfy the individual needs of your business as well as ensuring you comply with top-level guidance.

Solutions for bespoke ID checks

Bank validation and payment processing services for your business. Make the connection between your customer & their bank account details.

Bank Account Verification and Validation

Instant document verification for your business. Reduce risk and provide a positive experience for your legitimate customers.

Document Verification

Man performing onboarding document checks

Document checks

GPG45 and JMLSG guidance both stress the importance of authenticating any documents offered by way of ID proof, but how can you do that? Experian’s Document Verification service can process documents from around the world, including government-issued passports, driving licences, residence permits and ID cards, all in real-time. It ensures that the data entered while onboarding matches the customer’s document and provides photo ID verification for total peace of mind.

Solutions for document checks

Instant document verification for your business. Reduce risk and provide a positive experience for your legitimate customers.

Document Verification

Colleague in an office screening sanctioned customers

PEP and sanction screening

Complying with GPG45 and JMSLG guidelines includes screening customers or beneficial owners who are deemed to be politically exposed persons (PEPs) or who appear on sanction lists and are not permitted to make financial transactions. It’s important to check for these high-risk individuals during customer onboarding and throughout the customer lifecycle. Experian has tools that can facilitate these checks in a hassle-free, seamless way.

Solutions for PEP and sanction screening

Bank validation and payment processing services for your business. Make the connection between your customer & their bank account details.

Bank Account Verification and Validation

Instant document verification for your business. Reduce risk and provide a positive experience for your legitimate customers.

Document Verification

Young couple applying for credit after moving to the UK

Recent arrivals

UK-centric identity proofing systems often struggle to cope with new-to-country customers who have little or no domestic credit history. The answer is to look for evidence outside the UK.  Experian’s International Identity Verification tool can interrogate a pool of global data sources so that you can quickly verify customers coming from across the world, helping you to satisfy GPG45 and JMSLG guidance without adding friction to new arrivals’ ID checks.

Solutions for recent arrivals' ID checks

Bank validation and payment processing services for your business. Make the connection between your customer & their bank account details.

Bank Account Verification and Validation

Instant document verification for your business. Reduce risk and provide a positive experience for your legitimate customers.

Document Verification

Further reading on identity regulation

Get in touch

We can tailor our identity regulation solutions to meet your business needs. Let's talk.

Speak to an expert

Stay compliant

You probably spend a lot of time on due diligence and performing AML and KYC checks when you’re onboarding new clients, but how confident are you that you could spot if one of your existing customers became involved in financial crime? Fortunately, powerful analytical tools can give you a more complete picture of your customers so that you can better manage risks hiding in your portfolio.

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Young woman using a tablet to evaluate customer data

Up-to-date customer data

Any review of AML compliance must start with a comprehensive audit of the data you hold about your customers. It’s important to reconcile gaps and inconsistencies in your records so that you can have confidence in reports based upon them. Experian can help with this. Its KYC Health Checks authenticate customers from 50 countries worldwide by cross-referencing their details against the UK’s largest consumer and business information bureau.

Solutions for up-to-date customer data

Anti-Money Laundering (AML) checks. Meet anti-money laundering & KYC compliance requirements and safeguard your customers.

AML and KYC Policy Review

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24/7 monitoring

Once your data is in good shape, you can begin a programme of continual monitoring using agreed risk policy criteria. This helps you identify new risks in your portfolio brought about by changing customer profiles or switches in a company’s beneficial owners.

Solutions for 24/7 monitoring

Anti-Money Laundering (AML) checks. Meet anti-money laundering & KYC compliance requirements and safeguard your customers.

AML and KYC Policy Review

AML Flags analyse two data sources, companies house and cashflow data, for patterns and trends which could indicate anomalous activities and potential financial crime.

AML Flags

Man using a tablet to gain a deeper understanding of customer data

Deeper understanding

It’s important to use an analytical tool that provides a comprehensive view of your customers. ComplianceIQ, Experian’s web-based portfolio monitoring tool, verifies a wide range of corporate information to give you a 360-degree view of each client. Checks include company name, registered address, trading activity, financial information, adverse legal information, county court judgements and risk measures.

Solutions to gain a deeper understanding

Anti-Money Laundering (AML) checks. Meet anti-money laundering & KYC compliance requirements and safeguard your customers.

AML and KYC Policy Review

Woman using a laptop to understand the credit risk of her customers

Rational decision making

Monitoring with a tool like Experian’ ComplianceIQ enables you to understand the overall risk exposure of your portfolio at a glance. This means you can balance risks against commercial priorities based on hard facts rather than assumptions.

Solutions to aid rational decision making

Anti-Money Laundering (AML) checks. Meet anti-money laundering & KYC compliance requirements and safeguard your customers.

AML and KYC Policy Review

Woman making risk policy notes in notepad from her laptop

Bespoke risk policy

No two companies have the same approach to risk. That’s why it’s important to use a solution that allows you to set up a unique risk policy in a simple, stress-free way. ComplianceIQ gives you that control with its automatically enforced and fully audited risk policy approval process. It can also track historical changes to risk profiles, improving overall transparency.

Solutions to help build a bespoke risk policy

Anti-Money Laundering (AML) checks. Meet anti-money laundering & KYC compliance requirements and safeguard your customers.

AML and KYC Policy Review

Further reading on compliancy

Get in touch

We can tailor our compliancy solutions to meet your business needs. Let's talk.

Speak to an expert

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Let's talk. Experian can support your business needs.

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