SmartDiligence for Financial Advisors

Often Financial Advisory firms are small with a number of specialist in investments and protection, they simply don’t have the resources to have full-time compliance personnel. Whilst all firms will need a Money Laundering Reporting Officer (MLRO) this is often a dual role. We see many firms not undertaking robust Sanction and PEP (Politically Exposed Person) screening and ongoing monitoring. We hear firms telling us that either they didn’t realise their obligations for Sanctions and PEP’s, or we don’t deal with them, that then begs the question “How would you ever know if you’re not making the adequate checks?” this could leave firms vulnerable, it’s a criminal offence to deal with individuals or organisations that are subject to HM Treasury Sanctions.

SmartDiligence is the only Anti-Money Laundering verification platform that gives full Sanction and PEP screening via Dow Jones, this allows firms to undertake Enhanced Due Diligence where necessary.