iDenfy, recognised for its expertise in identity verification and fraud prevention, has unveiled a new Anti-Money Laundering (AML) solution aimed at improving screening processes for both individuals and organisations.
This advanced software is set to facilitate compliance with global regulatory standards by incorporating data from comprehensive global sanctions lists.
AML screening platform features
AML Screening platform by iDenfy is equipped with a fully updated operational workflow
The newly introduced AML Screening platform by iDenfy is equipped with a fully updated operational workflow designed to provide consistent and transparent compliance settings across all its verification offerings, including Know Your Customer (KYC) and Know Your Business (KYB) systems.
This platform allows organisations to conduct real-time monitoring of individuals and businesses against critical datasets like sanctions, Politically Exposed Persons (PEPs) lists, and adverse media.
Importantly, the platform enhances functionalities such as the retrieval of AML results and automation of inputs required from compliance teams.
New labels and risk categories
iDenfy's CEO, Domantas Ciulde, elaborated on the introduction of new labels and risk categories within the dashboard: “You need to enter the person’s name, and that’s basically it, since the system collects, verifies, and cross-matches their personal information, providing you with a full risk profile in seconds.”
This implementation simplifies the process by eliminating the need for manual data entry and access to various external PEPs or sanctions lists.
Automation and configuration flexibility
The AML Screening solution provides users the ability to adjust match thresholds
The AML Screening solution provides users the ability to adjust match thresholds, manage PEP risk levels, and filter sanctions via a singular platform.
It supports both manual and automated AML checks through API or the dashboard, offering greater adaptability for financial institutions, fintech firms, and industries handling large volumes of corporate clients. It allows for instant AML checks during onboarding procedures, integrating seamlessly with other KYC and KYB functions provided by iDenfy.
Handling high-risk clients
Advanced logic for managing high-risk clients, such as PEPs, is a key feature of the new software. It categorises PEPs according to their influence, with classifications ranging from Tier 1, comprising heads of state, to Tier 3, including local officials.
Such classifications assist organisations in applying thorough due diligence only when necessary, thus minimising operational friction.
Customisable AML dashboard
The tailored AML dashboard offers an adaptable interface, allowing modifications in real-time. It enables users to examine risk lists and access comprehensive search information, with improved result tags like “Flags found” and “Flags not found,” which replace more vague terminology, ensuring clarity in reports.
Extensive data integration
iDenfy’s platform leverages data from over 45,000 global sources across 210+ jurisdictions, including entities like the United Nations and European Union. The system maintains a detailed audit trail, recording verification parameters and updates, ensuring data integrity and compliance.
Updates to the PEP database are executed within 48 hours post any significant political changes worldwide, allowing companies to remain agile amidst regulatory shifts.
Alignment with regulatory expectations
iDenfy's AML solutions align with the recommendations of regulatory bodies like the Financial Action Task Force (FATF). These bodies emphasise the need for automated technical tools capable of detecting complex threats and minimising false positives.
Domantas Ciulde commented: “In today’s environment, regulators expect more than meeting compliance standards; they expect accountability and precision. Our new AML system is designed to help other companies meet those standards by integrating efficient automation, real-time data intelligence, and clear operational logic.”
Viktor Vostrikov, iDenfy's CMO, remarked on the pertinence of their offerings: “Our partners operate in sectors where reputation and trust are everything. With our new AML Screening solution, every dataset, every recheck, and every action is fully documented and traceable. This clarity not only protects companies from regulatory risks but also strengthens their relationships with customers.”
iDenfy, a global pioneering RegTech company specialising in identity verification and fraud prevention, announced the launch of its new Anti-Money Laundering (AML) solution, designed to screen individuals and businesses against various AML databases, such as global sanctions lists.
The updated framework defines how iDenfy’s automated AML system prevents, detects, and monitors money laundering risks to provide the best suitable tool to comply with international regulatory standards and recognise fraud with world-class data sources.
AML Screening platform
The new AML Screening platform introduces a fully documented and updated operational workflow, which is designed to ensure consistent, transparent, and auditable compliance settings across all iDenfy products, including Know Your Customer (KYC) and Know Your Business (KYB) verification systems.
It provides organisations with advanced tools to monitor individuals and entities against sanctions, Politically Exposed Persons (PEPs) lists, adverse media, and other risk datasets in real-time. Compared to the old software, iDenfy has improved many areas, especially in areas like retrieved AML results or the manual input that compliance teams use.
New labels and risk categories
According to Domantas Ciulde, the CEO of iDenfy, there are new labels and risk categories, with all individuals and their portraits added to the dashboard:
“You need to enter the person’s name, and that’s basically it, since the system collects, verifies, and cross-matches their personal information, providing you with a full risk profile in seconds.”
“This allows companies to forget challenges like manually entering multiple details about the individual to get the system to return AML results, including other standard issues like manually accessing different PEPs or sanctions lists.”
AML Screening software
The newly presented AML Screening software introduces a new configuration structure that allows iDenfy partners to manage AML match thresholds, PEP risk tiers, and sanction filters within a single platform.
It enables both manual and automated AML checks, triggered via dashboard or API, that ensure a greater flexibility for financial institutions, fintechs, and other high-risk, regulated industries that juggle a high volume of corporate clients. In addition, AML checks can now be performed instantly during onboarding processes, as well as seamlessly integrated with other iDenfy’s KYC and KYB systems.
Advanced logic for handling high-risk clients
The update also introduces advanced logic for handling high-risk clients, such as PEPs. iDenfy’s new classification helps clients evaluate the risk of both foreign and domestic PEPs, their family members, and close associates.
Now, the new AML software assigns PEP tier levels based on their influence and exposure. As an example, Tier 1 shows heads of state and senior ministers, and Tier 3, local officials or lower-risk positions. These classifications help organisations to apply enhanced due diligence measures only when necessary, eventually reducing operational friction.
iDenfy’s AML dashboard page
In addition, iDenfy’s AML dashboard page is able to automatically adjust custom filters and changes based on the partner’s setup. Users can check risk lists and execute search results to get information about a particular person, along with search details and overall AML check status.
As a result, instead of “AML suspected” and “AML not suspected” result tags, now there are improved, more accurate results via wording like “Flags found”, “Flags not found”, as well as “True positive” and “False positive” symbols that simplify detailed AML screening’s results.
Extracting information
iDenfy’s AML platform extracts information from over 45,000 official public sources and databases across more than 210+ jurisdictions, including the United Nations, European Union, OFAC, and other national authorities.
Every verification is recorded in full detail, including search parameters, datasets, timestamps, and reviewer comments, to maintain a verifiable audit trail. The system also supports continuous data updates, the PEP database, and refreshes it within 48 hours of any global election or leadership change.
By adopting all needed sanctions and PEP data from multiple jurisdictions in a simple dashboard with easy-to-read instructions, iDenfy allows companies to stay up-to-date with changing regulatory requirements, especially in today’s landscape, where geopolitical uncertainty is a major factor.
Regulatory watchdogs
It’s worth mentioning that the regulatory watchdogs like the Financial Action Task Force (FATF) also continue to emphasise the importance of automated, technical AML tools, urging businesses to implement AI-powered verification, screening and monitoring systems that are capable of detecting complex cross-border threats and reducing false positives while onboarding new users.
“In today’s environment, regulators expect more than meeting compliance standards; they expect accountability and precision. Our new AML system is designed to help other companies meet those standards by integrating efficient automation, real-time data intelligence, and clear operational logic,” added Domantas Ciulde, the CEO of iDenfy.
“Our partners operate in sectors where reputation and trust are everything. With our new AML Screening solution, every dataset, every recheck, and every action is fully documented and traceable. This clarity not only protects companies from regulatory risks but also strengthens their relationships with customers,” commented Viktor Vostrikov, the CMO of iDenfy.
