Whether you are looking to do an AML client screen, a tenant/credit screen or an employee ID and credit screen, with the data sources we check against and the credit information we obtain, such as CCJs IVAs and bankruptcy information, ValidID is the tool for many companies and professions.
ValidID allows firms to carry out electronic anti money laundering checks on clients to verify their identity along with validating documents and identity evidence the client may produce.
Regardless of the type of business you are in, you will no doubt be aware that verifying the identity of your customers is not only prudent from a business point of view, but it will also reduce your firms risk and exposure to illegal activity such as money laundering and terrorist financing. Remember having poor systems and controls that leave your firm open to being used for money laundering purposes can attract a fine and/or a 2 year prison sentence.
Having a good risk based approach to proving your clients identity is not only important, it is vital.
Here at Professional Office Ltd, we think that ValidID is the easiest and most affordable solution in the market today.
With no expensive licence fees, or the need to buy large amounts of searches, getting started with ValidID is as simple as having a membership which costs £20 per annum and depositing a minimum cash balance of £10. Don’t forget we will continue to screen your client after each and every sanctions list update as part of your annual membership fee meaning full compliance with Financial Sanctions legislation. You will need a valid Data Protection Licence to use this product.
Once a search has been carried out it will always be accessible through your account and the record is always available in the client management page.
We offer two levels of check Basic and Enhanced for more information and costs please see the Prices page
Why do we charge a membership fee?
One of the most important screens we do within our checks is Financial Sanctions. This is important as it complies with the Financial Sanctions Legislation as enforced by the HM Treasury. However part of the requirements under sanctions compliance is the need to re-check client data after each and every sanctions list update and the HMT updates the Financial Sanctions list quite frequently.
Unlike most providers of Electronic AML checks, once a client has been entered into ValidID.co.uk we re-screen that client after each and every sanctions list update all part of the membership fee.
So for £20 per annum you are also getting full compliance with Financial Sanctions legislation.
Please note if you looking to screen large numbers then contact us for a bespoke price 0843 713 0 444.