KYC & Anti-money laundering compliant searches

Know your customer (KYC) and anti-money laundering (AML) compliance searches ensure that an individual or entity you are considering doing business with is bona-fide, which is critical for assessing customer risk and a legal requirement to comply with AML laws.

There is a distinct difference between the two.

KYC refers to identity verification procedures used to ensure customers are who they say they are. AML is the umbrella term for a group of mechanisms deployed to protect against money laundering and financial crime, of which KYC is just one element.

Many clients that come to us assume carrying out a KYC process is enough, which is simply not the case. If AML mechanisms are not conducted thoroughly, companies can face unimaginable fines – it is estimated that in 2019 fines in excess of US $20 billion were handed out by global authorities for poor AML and KYC practices.

It can be costly and time-consuming for clients to carry out full KYC and AML searches, which is why SIP offers a one-stop, cost-effective solution. We’ve seen a substantial increase in the demand for these services over recent years, so we decided to incorporate a sister company solely dedicated to this work, to make it more efficient and cost-effective for our clients. This company also carries out pre-employment screening and is known as SIP International Verification Services LLC.

SIP International Verification Services LLC, via SIP-Verifications.com, is more than a website. It is a secure platform that serves all our clients’ needs, offering far more than our competitors. It offers a user-friendly, case management system which serves as a genuine “one-stop solution” for global compliant KYC and AML searches.

No matter where on the globe your searches and verifications are required, we can help:

  • SIP has access to over 800,000 established reliable information resources, covering 195 countries. This means we can quickly and legally verify documents and conduct official searches worldwide.
  • SIP knows the importance of reliable accurate information. Our researchers speak 35 languages and conduct over 50,000 searches a month relating to KYC, AML and pre-employment screening.
  • We offer clients various levels of KYC and AML searches, for example basic searches including but not limited to:
  • Global sanctions and watch list
  • Politically Exposed Persons (PEP)
  • Links to organised crime
  • Office of foreign assets control (OFAC) (economic and trade sanctions put in place by the US)
  • Political connections
  • Terrorist organisation connections
  • Criminal and civil litigation media searches
  • Media reputation
  • Financial judgments and bankruptcy
  • Company financials
  • Directorships and shareholdings
  • Sex offenders list

We also offer more comprehensive due diligence, researching in-depth information relating to the entity in question, as well as key executives and shareholders associated with it.

  • SIP is aware that personal data security is paramount, so adheres to strict GDPR data protection policies.
  • Our online case managements system enables clients to request searches, upload, download and store documentation, receive reports, make payments online, contact customer support and more.
  • With the support of our sister company SIP International Cybersecurity & Forensics LLC, we ensure that our website platform and case management system use the latest secure technology to protect all client data.

With our expertise and professionalism, you know you are in safe hands with SIP, so contact us now!!

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