In today's rapidly evolving business landscape, compliance with anti-money laundering (AML) regulations is paramount. Failing to meet these obligations can result in severe legal consequences, hefty fines, and damage to a company's reputation. One of the most crucial aspects of AML compliance is Enhanced Due Diligence (EDD), which involves a thorough investigation of high-risk customers and transactions.
Traditionally, organisations have relied on internal staff to perform EDD. However, there is a more efficient and cost-effective solution: combining the expertise of outsourced ACAMS(Association of Certified Anti-Money Laundering Specialists) professionals with cutting-edge software. This approach not only saves time and money but also enhances the overall quality of EDD processes. Welcome to APLYiD – cases.
AML compliance is an ever-evolving field, with regulations becoming increasingly complex and stringent. This complexity make sit challenging for organisations to keep up with the latest developments and ensure compliance. Utilising internal staff for EDD can be time-consuming and expensive, especially when dealing with high-risk customers who may require extensive research and continuous monitoring.
By combining the expertise of outsourced ACAMS professionals with advanced EDD software, organisations can achieve synergy that results in significant time and money savings. Here's how this partnership works:
In the realm of AML compliance, outsourcing EDD to qualified ACAMS professionals and leveraging state-of-the-art software offers numerous benefits. Not only does this approach save time and money, but it also enhances the quality of compliance efforts. By collaborating with outsourced experts and integrating advanced technology, organisations can navigate the complex regulatory landscape with confidence and efficiency. This winning combination empowers businesses to stay ahead in the fight against money laundering and protect their reputation in an ever-evolving compliance landscape.
Starting 1 June 2025, all NZ reporting entities must assess, record and monitor the risk level of new clients.
Read more
If you are a Lawyer, Real Estate Agent, or an Accountant in Australia, you may be wondering what exactly this ‘Tranche 2’ stuff will mean for you in practical terms.
Read more
Press Release: APLYiD Partners with HES Fintech to Enhance Digital Identity Verification Solutions
Read more
It's not hard to scam an agency, and HMRC is on the hunt for AML negligence with £5k fines. Yikes. But there is an easy way to fix this...
Read more
As Valentine's Day approaches, love is undoubtedly in the air, but unfortunately, so is the risk of identity theft within the online dating sphere.
Read more
As we kick off the new year, APLYiD, a leading identity verification company, is navigating through changes in the regulatory landscape.
Read more
In today's fast-changing world of digital security, biometric verification has become a crucial way to authenticate identities.
Read more
What is Enhanced Due Diligence and why is it so important?
Read moreAt APLYiD our mission is to end identity fraud and digital crime – that’s why we’ve made the best biometric identity verification software on the planet. But as our technology gets more sophisticated...
Read more
At APLYiD our mission is to end identity fraud and digital crime – that’s why we’ve made the best biometric identity verification software on the planet. But as our technology gets more sophisticated...
Read more
The cost of living crisis, competitive landscape and ongoing war in Ukraine are causing major headaches for the legal industry
Read more
The new 2023 plate change will come in a volatile, ultra-competitive market. Here’s how to win over those harder-to-reach customers
Read more
There are some tiny, fragile signs that the UK Property market is recovering
Read more
The accounting industry is in crisis – but with one simple software tweak it could become a fun, rewarding job once more
Read more
As interest rates continue to rise, so too do abandonment rates. By creating a better customer experience, you can cut those rates while protecting your business from fraud
Read more
The entire accounting industry is changing. For some that means new opportunities for growth and diversification; but for others the change can be traumatic.
Read more
Watch and learn with our pick of the 14 best YouTube channels to follow if you’re serious about cyber security
Read more
Passwords are hacked with ease, and MFAs are not the answer. Isn’t it time the biggest companies protect their clients and workforce with an identity-based perimeter?
Read more
New to KYC? Here’s your at-a-glance guide to the ins and outs of Knowing Your Customer.
Read more
The FCA reports that the UK’s top challenger banks still don’t do enough to eliminate identity theft and cyber fraud – but there’s nothing but silence from the companies that are supposed to be protecting them.
Read more
The next year is going to be a tough one, with fewer car registrations than ever. Follow our tips to make the most of every customer and drive ahead of the competition.
Read more
Some predict a bumper year for consumer finance; other suggest the industry will suffer. Either way recessions can wreak havoc – but here are some ways you can navigate the choppy waters ahead.
Read more
Wherever you look the experts are predicting an annus horribilis for Estate Agents next year. But we’ve unearthed some ways you can beat the property market slump and thrive next year
Read more
Conventional wisdom predicts that legal firms do well in a recession. But that’s not always the case – unless you follow our top five tips for 2023
Read more
Well, 2022 was a bit of a hellscape, wasn’t it? Recessions, political merry-go-rounds, Royal dramas, problematic world cups, and the ever-present ghost at the feast that is Brexit have all left their mark on the
Read moreThere are many reasons why elite sports stars can end up poor and homeless. Drug habits, concussions, bad investments, you name it. But Cindy Brown is different.
Read more
The safest, fastest and most trustworthy onboarding process to verify your customer’s identity.
Read more
The best customer onboarding experience… and the best defence against digital fraud.
Read more
Digital-first banks attract customers with no-fee accounts and simple, seamless setups. But their appeal to fraudsters means the more seamless they get, the more dangerous they become.
Read moreThe myth persists that identity theft is a relatively harmless, victimless crime aimed mostly at the elderly and vulnerable… but the data doesn’t agree.
Read more
Our complex world and its resultant threats to businesses mean General Counsel and legal firms are getting less sleep than ever. But there’s more to it than just risk: finding the right balance can give in-house
Read more
So much of the world is under threat from scammers, bad actors – and governments that give them shelter. But we can defeat the bad guys if the good guys band together.
Read more
KYC is an important part of protecting yourself – and your customers – from fraud, regulatory breaches and bad actors. Luckily APLYiD makes KYC compliance quick, seamless and effective.
Read more
Imagine returning from a well-earned holiday and putting your key in your front door only to find the locks have been changed…. then a stranger opens the door and asks who you are.
Read more
