Loans are usually considered as an unconventional way to launder money. However, this underutilised channel also makes lending an attractive route for some criminals to engage in financial crime, as many expect to go under the radar. While the frequency of money-laundering is low, regulators are increasing pressure on lenders to enhance their customer due-diligence and those who fail to comply with AML regulations can suffer from severe fines and reputational damage.
Whether you are a single or multi-product lender, it is essential to have a robust risk-based approach paired with intelligent AML solutions when onboarding new customers, and monitoring loans – allowing you to quickly identify risks and fraudulent behaviour.
Our solutions enable our clients in the lending industry to leverage the latest technology to achieve a more effective and streamlined approach to their processes and regulation.
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