Anti-Money Laundering (AML)

W2 provides superior AML and compliance solutions that support every step of the customer lifecycle from onboarding a new customer to ongoing monitoring and screening. We provide the most comprehensive protection by combining Sanctions, Politically Exposed Persons (PEP), global watchlist and adverse media lists into a single dataset. We enable you to implement a true risk-based approach to AML as recommended by the Financial Action Task Force (FATF), the 4th and forthcoming 5th Money Laundering Directive whilst minimising the cost of achieving compliance.

Whether you are a small business or large enterprise, having confidence in a scalable, reliable compliance suite will allow your business to expand with confidence, while avoiding the ever increasing fines issued by regulators – the FCA alone issued fines totalling over £60 million in 2018.

It’s never been more important to partner with the right organisation for compliance, and at W2, we pride ourselves in providing the right solution for your business.

Organisations that operate internationally will need to ensure AML compliance for every country and jurisdiction that they operate in. W2 offers access to the widest range of global sanctions and watchlists, combined into a single dataset that is updated daily, ensuring the highest level of protection for every stage of the customer relationship from onboarding to ongoing monitoring.

Our fully scalable sanction screening service helps you to identify and respond to potential areas of risk in real-time which is vital for screening customers. You can reduce risk and manage compliance requirements without overscreening which can impact on the customer experience.

W2 can combine 3 different levels of PEP & SPF data into a single, easily manageable dataset:

Level 1: Senior Political Figures are individuals whose prominent position in public life, this can make them, associates and immediate family members vulnerable to corruption.

Level 2: Politically Exposed Persons (PEP) Select List include all level 1 as well as regional, current and former PEPs, family members and close associates of PEPs and FATF defined PEP categories.

Level 3: Watchlist includes Level 1 and 2 as well as a much wider spectrum of people including civil servants, political party officials, senior members of the police force, City Mayors, National NGO officials, political pressure and labour group officials as well as global law enforcement wanted lists, regulatory enforcement actions, global adverse media and International sanctions lists.

Doing business with a PEP is considered a high risk activity and requires detailed KYC and Enhanced Due Diligence to mitigate the risk of financial penalties. To ensure your firm remains compliant at all times W2 can provide customer on-boarding screening along with an ongoing PEP monitoring service that will regularly screen your customer for complete peace of mind.

Contact us and see how W2 Global Data could help you combat financial crime and stay compliant with superior AML solutions.