SmartSearch for Financial Advisors

Often Financial Advisory firms are small with a number of specialist in investments and protection, they simply don’t have the resources to have full-time compliance personnel. Whilst all firms will need a Money Laundering Reporting Officer (MLRO) this is often a dual role. We see many firms not undertaking robust Sanction and PEP (Politically Exposed Person) screening and ongoing monitoring. We hear firms telling us that either they didn’t realise their obligations for Sanctions and PEP’s, or we don’t deal with them, that then begs the question “How would you ever know if you’re not making the adequate checks?” this could leave firms vulnerable, it’s a criminal offence to deal with individuals or organisations that are subject to HM Treasury Sanctions.

SmartSearch is the only Anti-Money Laundering verification platform that gives full Sanction and PEP screening via Dow Jones, this allows firms to undertake Enhanced Due Diligence where necessary. SmartSearch is a recognised supplier of Electronic Verification by the Joint Money Laundering Steering Group (JMLSG), individuals and businesses can be verified in moments where traditional documents can be very time consuming for both the firm and the client.