On-demand webinar: AML compliance - Are paper-based ID checks dead?

On-demand webinar: AML compliance – Are paper-based ID checks dead?

Many firms are still carrying out paper-based identification and verification of clients during the onboarding process. But is this the most efficient method?

In this webinar, we were joined by Thirdfort’s AML Services Manager Harriet Holmes, Compliance Office’s Managing Director Andy Donovan and VinciWorks’ Director of Product (Omnitrack) Ruth Mittelmann Cohen to explore the extent to which paper-based ID checks are still the best way to carry out CDD.

The webinar will cover:

What should firms be thinking about when identifying and verifying clients?
What methods are available to carry out client checks?
How often should you carry out ongoing monitoring of clients?
What should you think about before purchasing technology to improve your onboarding process?
What are the latest AML updates?

Watch now

Omnitrack’s end-to-end AML client onboarding solution recently launched a strategic partnership with Thirdfort, a leading know-your-customer and anti-money laundering platform.

The partnership between VinciWorks and Thirdfort will help to ensure that firm-wide client onboarding processes stay centralised within one system (Omnitrack), without the need for multiple applications to complete the onboarding process.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”