OneSearch, the property data provider, has launched a new anti-money laundering (AML) check designed to enhance the way property professionals manage compliance and transactional due diligence.
OneSearch AML offers conveyancers an up-to-date ‘know your client’ (KYC) checker.
New digital advancements mean previous methods of identity verification within the legal setting – such as manually checking documents, face-to-face meetings, and waiting for postal deliveries for documents – have become outdated.
Now, with biometric scanning, NFC technology, secure encryption, and cloud-based storage, ID checks are a far more safe and accurate part of the conveyancing process.
OneSearch AML offers ongoing monitoring checks, providing post-sale examinations of any changes, developments, or updates to customers profiles over a 12-month period.
Robin Wells, head of sales operations at OneSearch, added: “The launch of OneSearch AML underlines our ongoing commitment to empowering conveyancers in navigating their day-to-day workflow, and in this case, support for any complexities that run alongside AML due diligence.
“For us, we know and understand the complexities of KYC regulations of our clients – assessing risks, identifying suspicious activities, and especially ongoing monitoring are all imperative to our customers and to the industry as a whole.
“OneSearch AML solution delivers quick, secure, and accurate cover across all these areas.”
Elizabeth Jarvis, managing director at OneSearch, added: “The message from the SRA annual report was clear.
“All legal firms need to ensure they are committing time and resources to counteract modern money laundering attempts, and we offer our strongest support with OneSearch AML.
“The service has been created to be the single, comprehensive solution for our customers, easing any worry or burden they may have over how best to comply with all relevant standards and guidelines.”
