Products / Sanctions and PEP lists
ComplianceMitigate money laundering risks
Scan transactions against a global database
Money laundering carries huge regulatory and reputational risks for organisations, which can result in fines into the hundreds of millions, measurable brand damage and even a loss in operating licence. AML and KYC solutions for businesses are more important than ever in today's increasingly dynamic world.
We support our customers to mitigate money laundering risks through sanctions and PEP lists that are provided by governments and international bodies to prohibit illicit activity by high-risk persons and organisations.
This add-on module is automatically synced in your Fraud Management SaaS dashboard and gives you access to a global sanction list database powered by our platform partner, Elucidate.
By working with Fraugster you have access to world-class AML and KYC solutions.
Our solution enables:
KYC for new customer onboarding
Money laundering can affect any institution processing transactions, not just banks. Manage money laundering risks as part of customer onboarding to ensure that you are not facilitating sanctioned persons and entities by giving them unchecked access to your services.
Marketplaces - KYB for seller verification
Online marketplace are responsible for vetting and onboarding new sellers onto their their platform. A common money laundering risk is that a bad entity is accepted as a seller, to then make repeat purchases from another account (often high volume and high value transactions) to launder funds.
Payment companies and remittance services
A wide range of financial institutions that hold and disburse funds are required by law to check every transaction for money laundering risk.
This solution is powered by our platform partner Elucidate
"This partnership provides us with enhanced AML risk management capabilities, without adding complexity to our customer experience or own business processes. We are delighted to be working with an advanced technology partner like Fraugster that makes things simple and seamless."