LEHI, Utah (MO.Properties) – In response to Congress passing some of the most significant anti-money laundering (AML) legislation in decades, anti-fraud specialist SmartSearch U.S. has launched enhanced levels of protection against financial fraud for businesses.
SmartSearch U.S. – a leading RegTech firm – believes its sophisticated facial recognition, document capture and liveness appraisal will give U.S. firms the confidence they need to comply with the new regulation, as well as protect themselves against potential fraud.
The ongoing coronavirus crisis means it is also not safe for many businesses to onboard new customers using manual checks and having face-to-face meetings, due to the increased risk of infection.
Chad Rawlings, national sale director at SmartSearch U.S. based in Lehi UT, said there had been a surge in money laundering activity worldwide, as criminals seek to exploit the coronavirus crisis, and that firms in the property, legal and finance sectors need enhanced protection.
He added: “At SmartSearch U.S. we’ve developed and enhanced our solution, not only to respond to the growing threat but to stay a step ahead.
“We are now able to place the most sophisticated facial recognition technology on the market in the hands of banks, law firms, accountants and real estate firms, to make quick and simple checks that protects them against money laundering. It also improves customer service as it speeds up the process and is much more accurate than a manual check.
“Businesses need confidence right now that they are going to be able to move forward without further threats to their day-to-day operation, which is what this enhanced system does.”
The enhanced facial recognition, document capture and liveness appraisal combines optical character recognition (OCR) and the latest biometric facial recognition techniques to provide a true picture of a customer.
This highly advanced technology performs an algorithmic check on photo ID documents to ensure they are authentic. Then, using a customer ‘Selfie Liveness Video’ (SLV), it uses biometric and liveness detection to compare the ‘real person’ with the document provided to ensure the image and information is genuine.
Rawlings adds: “Our mission is to make compliance easy, particularly with the new legislation that is being introduced in the U.S.
“But while the technology behind SmartSearch is highly advanced, the interface and the outputs have been designed with the user in mind, meaning staff at any level can easily do a SmartSearch and stay compliant.”
To find out how SmartSearch can help your business, visit www.smartsearch.com/us or get in touch toll-free on 1-855-WeDoAML
For further information please contact: Simon Peevers, bClear Communications
07773 417 066 | email@example.com
SmartSearch is a leading provider of anti-money-laundering software. Its anti-money-laundering verification platform conducts individual and business searches, both for the U.S. and international markets with automatic worldwide sanction and PEP screening.
It is the only organisation with the ability to verify individuals and companies in a single platform via a browser or API, with full Sanction, PEP and adverse media screening, and then ongoing monitoring.
With an office in Lehi, Utah, SmartSearch’s very latest technology delivers an unrivalled user experience to over 4,500 client firms and 40,000 users, enabling them to comply with the latest AML regulations and fulfil their AML, Customer Due Diligence (CDD), and Know Your Customer (KYC) compliance obligations.
With no requirement for clients to provide identity documents, SmartSearch’s automated verification approach is significantly more convenient for both users and their end customers, with individual AML checks taking two seconds from start to finish, while business checks take less than three minutes.
For more information, please visit www.smartsearch.com