Leading AML Service Integrates Full Electoral Register
on: June 1, 2009, 3:59 am
The full 2009 Electoral Register
has now been integrated into the Tracesmart anti-money laundering
(AML) identity check service. The inclusion of the full 2009 Electoral
Register, one of the many positive datasets the system interrogates,
will ensure as many legitimate individuals as possible are cleared
by the ID check at the first instance.
Corporate's AML service allows users to perform identity checks
that help them to fulfil their AML 'Know
Your Customer' obligations, and it meets the standards set
for electronic verification prescribed by the Joint Money Laundering
Steering Group (JMLSG).
UK Electoral Register has two formats Ė the edited Electoral Register
which is available for any commercial use, but does not contain
the entire UK electorate as individuals are able to Ďopt outí;
and the full Electoral Register which can only be used by companies
for credit referencing and anti-money laundering purposes, but
contains the entire UK electorate.
Utilising the full 2009 Electoral
Register will enhance the pass rate of legitimate individuals
at the initial check stage. Historically, the system utilised
edited Electoral Register data as part of the identity check,
which whilst highly accurate, could marginally affect the initial
check pass rate, due to the opt-out clause; this meant further
checks Ė such as document verification Ė would have to be conducted.
Chris Rothwell, Sales Director at Tracesmart, highlighted how
the addition of the full Electoral Register will make for quicker
"The integration of the full 2009
Electoral Register into our AML system, means that our service
users can now swiftly and efficiently identify more of their clients
without requesting additional documentation. However, the ability
to verify identity documents such as passports, driving licences,
credit or debit cards and utility bills, has been preserved in
case further checks are required. The system ensures that identity
checks are conducted in a business friendly manner, whilst also
latest update to the AML service follows on from the recent introduction
of a 'single click' search interface. Previously, users had to
build the identity profile of an individual by searching datasets
and verifying details through a multi-tabbed interface. Whilst
many Tracesmart clients found this interface conducive to their
business needs, customer feedback indentified the need for a 'single
click' check. Mike Trezise, Managing Director at Tracesmart, believes
this customer-centric approach to service development is one of
the companyís strongest points,
have always believed it to be truly important that there is a
constant dialogue between ourselves and our clients, especially
concerning the services themselves. After all, itís our clients
that use the systems day in, day out, so it essential that their
needs are fulfilled. As such, Tracesmart will continue to listen
to its customers, front-line staff and market research, to develop
its services accordingly."
Access to the full Electoral Register
data, via Tracesmart's AML service, is only available to companies
who meet strict data protection pre-requisites.
- Tracesmart Limited was
formed in 1999 and supplies a diverse range of consumer data
cleansing, identity check and tracing tools to a wide variety
of industries. Their client base ranges from SME to Blue Chip,
who are all recipients of bespoke solutions, built around
their specific needs.
- Chris Rothwell, Tracesmart's
Sales Director, previously worked in both the financial markets
and tracing industry. With a wealth of knowledge and experience,
Chris is well placed to head up the corporate sales team.
- Mike Trezise is the founder
and Managing Director of Tracesmart. With over 25 years tracing
and fraud analysis experience, his unrivalled knowledge provides
the company with a distinct competitive advantage.
- Adam Smith Ė Marketing Manager
- Tracesmart Ltd
- 2 Sovereign Quay
- Havannah Street
- CF10 5SF
- Tel: 029 2047 4120
- Mobile: 07976 637 091
- Images available on request.