Please note: The information in this guide may only be relevant to clients using Credas directly via Credas Connect. Whilst we make every effort to ensure the information provided is accurate and up to date, we always recommend referring to the relevant UK government and regulatory guidance for the most current and authoritative information.
AML Checks
The UK government’s regulations on Anti-Money Laundering (AML) checks require businesses in certain sectors, such as financial services, legal, and real estate, to conduct due diligence on clients. These checks aim to prevent money laundering, terrorist financing, and other financial crimes.
Know Your Customer (KYC) is a component of AML regulations. It refers specifically to the process of verifying a customer’s identity and understanding their financial activities to assess potential risks. KYC ensures that businesses know who their clients are and whether they present a risk of involvement in illegal activities.
As part of our commitment to helping you meet compliance requirements, we offer AML and KYC checks as part of our Identity Verification services through a variety of checks such as Biometric Identity Verification, Address & Mortality checks, PEPs & Sanctions Screening and Ongoing Monitoring.
If you are unsure on which checks you should be sending to a client, these regulations are outlined in the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
We have created an 'How-To AML Check via Credas' Guide which can be viewed/downloaded here.
This guide aims to give you an overview of the below:
- What checks we offer
- How to send an remote AML check to your client
- How to manually complete an AML check on your client
- How to review your results
- Tips & Tricks in the portal
We also offer guidance on understanding your results and other checks we offer here:
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Join our live training sessions
Whether you're new to Credas or simply looking for a refresher, we’ve got you covered! We now offer regular training sessions designed to help you get the most out of the Credas platform. These sessions are tailored to different product areas, including: - AML / ID verification - Right to Work - Our brand-new Credas Lettings solution - Admin / advanced training In each session we will walk you through how platform works and answer any questions you may have.
See our full training schedule