"With fraud on the rise and the fifth money laundering directive now needing to be implemented, there has never been a time when AML services have been in greater demand. "
The NACFB has partnered with SmartSearch to offer its members access to the anti-money laundering platform with preferential rates for background checks.
The NACFB says it is seeing increased demand from members for a simple and effective way to conduct due diligence checks on both individuals and businesses.
The SmartSearch platform uses data partners Experian, Equifax, Dow Jones and Companies House to conduct searches and checks on individuals and businesses both across the UK and the international markets.
The SmartSearch platform delivers warning email alerts to allow those responsible for AML compliance to keep a watching brief over users, and ensures that enhanced due diligence is undertaken if PEPs or Sanctions warnings are highlighted.
Searches can also be done remotely via SmartAML, SmartSearch’s fully integrated app.
Graham Toy, chief executive officer at the NACFB, said: “We work hard to ensure our brokers receive a first-class proposition with their membership, including comprehensive compliance support. Through implementing SmartSearch we are able to provide them with a world class resource for this important element of compliance.
“The feedback from brokers who already use the platform is overwhelmingly positive. These brokers have told us that SmartSearch is an efficient and effective way of conducting background searches. We remain committed to making the lives of commercial brokers easier, and we look forward to continuing to provide innovative solutions like this, to do just that.”
John Dobson, CEO of SmartSearch, commented: “With fraud on the rise and the fifth money laundering directive now needing to be implemented, there has never been a time when AML services have been in greater demand. Our platform makes it quick, easy and cost effective to conduct the most robust range of searches in the UK not only on individuals but also on companies too.
“We are therefore pleased that the NACFB is making our anti-money-laundering services available to its members, enhancing the exceptional level of support they already provide for their brokers.”