A Guide to Anti-Money Laundering for Crypto Firms
ROBOCASH Group, launched in 2017, provides financial services in eight countries in Europe and Asia. The company specializes in the field of consumer lending and marketplace funding by offering short-term loans and installment loans. The group has more than 10 million customers and has issued over 8 million loans.
Product: AML Screening and Monitoring
ROBOCASH Group, being an international corporate group, is required to comply with the anti-money laundering regulatory requirements of different global regions and countries. ROBOCASH needed to meet all those requirements in a way that was sustainable and made sense for the whole corporate group. The company was, therefore, looking to partner with an AML provider who could provide an easy and quick API integration and specialized AML tools that have global coverage.
ComplyAdvantage has provided ROBOCASH with secure access to complete, timely and up-to-date anti-money laundering data globally. In addition to this, the ability to configure the settings when screening and monitoring customers enabled a reduction in false positives. Thanks to the centralized platform, where all relevant information regarding an alert is consolidated, ROBOCASH’s compliance team has noticed a 50% reduction in time to manage alerts.
Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.
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