You spend more time on paper work and searches to comply with the AML regulations rather than business generation. Adhering to the Financial Intelligence Analysis Unit (FIAU) implementing procedures is becoming a nightmare. Investing in compliance software is too costly.

These concerns are what triggered the creation of StartKYC – an online system, as intuitive as a google search and as functional as any high end compliance software without the need to make a capital investment.  A pay-as-you-go service allowing clients to invest in their compliance software in parallel to the growth of their client base.

Notaries, real estate agents, accountants, Fintech start-ups and small to medium sized businesses have all expressed their exasperation and concerns at the extensive time and effort required to comply with the AML directive.  Compliance is not an option – its’ the law and the fines imposed by the authorities for non-compliance can drag down a business in seconds. The will to comply with the AML regulations is evident, but the labour costs are exorbitant.  Compliance software solutions come in packages which are beyond the need of these professionals and investing in them does not make financial sense, thus resorting to manual efforts.

StartKYC was built with these considerations in mind and we are proud to announce that our goals have been achieved.  We started off the journey by ensuring that we provide a relevant, timely and accurate database that exceeds all expectations by partnering with Acuris Risk Intelligence – a trusted and independent provider of data intelligence for Anti-Money Laundering, Anti-Corruption and Cyber Security professionals.  Acuris sources data from over 14,000 global sources to produce a comprehensive list of PEPs, SOEs, REPs, Sanctions and Adverse Media Data and access to over 130 corporate registries around the globe. Listed below are some of the general sources where Acuris Risk Intelligence gathers information from:

• Sanctions & watch lists (OFAC, UN, HM Treasury, EU.
• World-wide Politically Exposed Persons (PEPs) – Acuris Risk Intelligence profiles both the PEP and associated family members/business/business partners. Over 1.4 million profiles
• World-wide press articles – 100% access to the original document (Not reliant on links)
• World-wide law enforcement agencies (Met Police, FBI, Dept. of Justice, Interpol, etc.)
• World-wide financial regulators (FCA, SEC etc.)
• UK insolvents & bankrupts (including historical)
• UK disqualified directors (including historical)
• UK charities commission

The next step was to provide the same functionalities for clients irrespective of their investment.  And that is precisely what we did – clients buying a 5 package search or a 30,000 package search get the same top notch functionalities for efficient screening and monitoring, including:

• Effective data presentation & Filtering
• Search Sensitivity Customisation
• Adding and Saving Analyst comments
• Risk Based Approach Classification
• Search History & Audit Trail
• Scan names in original script, such as Arabic, Chinese, Cyrillic and other non-Latin scripts
• Downloading & Saving of search results in pdf format
• Daily Monitoring
• Easy API Integration
• Customer Support

We are all aware of the devastating effects that Money Laundering and Funding of Terrorism has and allowing it fuels the surge in criminal activity from human trafficking to funding of arms for terrorist groups.  The support of the entire business community is essential in fighting the battle and StartKYC is constantly working to provide efficient, innovative and affordable tools for all the players in the market to curb these threats.

Contact us and let StartKYC be your partner in compliance – you don’t need to be a big corporation to get a fancy software!