Ensure your business is protected.
Let Credas help you comply with AML.

Anti-Money Laundering

Protecting your business from fraud, and complying with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations can be stressful at the best of times, especially if you are in the property business.

Buying and selling property is widely acknowledged as a high-risk area for money laundering, as large sums of money can be laundered in a single transaction.

In June 2017, the AML regulations were amended to make them more robust. Improving the recognition and deterrence of money laundering, and preventing the funding of terrorist activities through money laundering remain a priority.

Identifying high risk clients and managing them has become more difficult for estate agents, as they now have to conduct client due diligence on both sellers and buyers. The situation is further complicated by the fact there is no contract between an estate agent and a buyer, meaning a buyer is under no obligation to undertake the Anti-Money Laundering checks when asked to do so.

This is where Credas can help. We provide a simple, quick and secure way of verifying someone’s identity using cutting edge, real-time facial recognition technology. It offers next generation ID capture and verification for estate agents to help you easily and quickly comply with AML checks and regulations.

The way our technology works means your clients can verify their identification in their own time, using their own devices. They don’t have to submit lengthy forms or get confirmation from someone else that they are who they say they are, and it only takes minutes to complete the process, saving you time and money.

A property buyer is far more likely to say yes to a quick, unobtrusive facial recognition ID check than having to produce various documents which they don’t have to hand and have to bring into the office or branch.

The benefits of using Credas in your business are far reaching. It is designed to help you carry out due diligence, comply with AML regulations, reduce your exposure to fraud and have a secure audit trail.

The system is not just an alternative to paper based identity verification. It saves you time and money, and:

  • Staff don’t have to manually check numerous identification documents, or chase clients for the correct ones
  • The risk of human error in the identification process is minimised
  • The risk of fraud is vastly reduced as you are not relying on documents that can be altered as forms of identification
  • The verification process is done in real-time, so results are instantaneous
  • Results are exceptionally accurate as every person has unique facial attributes which are hard to copy
  • The platform is extremely secure
  • It provides you with an ID verification audit trail to show to regulators

We understand no two businesses are the same. That’s why we have designed Credas to be a flexible platform, which is quick and simple technology which fits in with you and your company’s needs. Credas lets you customise your identification verification process, and integrate it with your business.

Credas can help you save time and money, and improve the accuracy of your client verification. You can rest easy knowing you are using market leading, hassle-free and cutting-edge technology to carry out fast, effective, and secure identification checks.

Find out how Credas can help. Sign up for a FREE pilot now!

Our businesses are about people, working with people, serving people, building for people, dealing with people. Make sure they’re the right people.

 

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