Onboarding new clients isn’t always enough to guarantee AML compliance, as various factors such as PEP status, Sanctions lists, document validity, and others can change. To ensure ongoing compliance, we provide our clients with the ability to globally monitor existing customers.

Monitoring Sources

With natural entity monitoring, you are able to choose from the following sources:

  • Document Expiration: Allows you to see whether the provided document will expire in the next two months to provide you with ample time to reach out to the customer and ask for updated ID information. 

  • Lost or Stolen Registry: Check that the provided document is still in the possession of the original owner. 

  • Population Registry: Confirm all provided data with population registries. 

  • Driving Licence: Check the validity of the person’s driving licence, its status and expiration date. 

  • AML (Ondato): PEP status and Sanctions lists.

  • AML (External): Reputational risk media, PEP status, Sanctions lists, and regulatory enforcement lists. 

You are also given the ability to decide when the checks are performed, with daily, weekly and monthly options. 

Global Rules

Additionally, from now on, our customers can apply global rules to monitoring sources. With this, you will be able to apply all preselected monitoring sources to any new client cards you create with no additional hassle.

How can Natural Entity Monitoring Help Your Business?

Keeping track of relevant client information is crucial for various reasons. Firstly, it ensures compliance with legal and regulatory requirements. With natural entity monitoring, we ensure that your company adheres to specific AML regulations, as failing to comply can result in legal consequences and penalties.

Monitoring this data helps companies maintain accurate and up-to-date records. Outdated or expired information can lead to potential errors in communication or decision-making. Keeping records current is essential for maintaining the integrity of the information and ensuring that the company has the most accurate and reliable data.

Natural entity monitoring contributes to the overall risk management strategy. Any unnoticed changes could indicate a lapse in compliance, which could expose the company to risks such as fines, legal actions, or damage to its reputation. By proactively monitoring and renewing documents, companies can mitigate these risks and demonstrate their commitment to operating within legal and regulatory frameworks.

Overall, this feature allows you to track any relevant changes in client data, protecting your business from fraud as well as hefty penalties due to failure to comply.