Veriphy echoes Council of Europe calls for robust Anti Money Laundering (AML) measures

Veriphy echoes Council of Europe calls for robust Anti Money Laundering (AML) measures 1024 343 Davies Group

Veriphy, the leading compliance solutions supplier, is echoing calls published by MONEYVAL for all European states to implement and maintain appropriate measures to combat “dirty money”.

MONEYVAL, the Council of Europe’s anti-money laundering and counter-terrorist financing body, has stressed in its latest annual report the continued need to apply robust measures against money laundering and terrorist financing. It has also highlighted how the impact of economic crime, organised criminal groups and terrorism continued to be felt in Europe and other parts of the world.

Current estimates by MONEYVAL of the amount of money laundered worldwide range from $500 billion to an astonishing $1 trillion, with disastrous effects on the global economy, and especially on developing economies.

George Stark of Veriphy said “As one the UK’s leading and longest-established Regtech companies, Veriphy has always stressed the importance of having in place robust, workable and easily-implemented AML solutions.”

“We view our checks as core elements of the global compliance ecosystem”, added Stark. “Our unique commercial model allows for absolute client inclusivity, so that our customer base ranges from multinational corporations to one-woman bookkeepers. We view this as crucial to our mission of providing trusted and recognised gold-standard AML checks at all levels of the regulated world, and beyond.”

“We match this with robust and wide-ranging deep-drill data mechanisms that ensure maximum KYC success. We view financial inclusion as crucial to economic wellbeing, and our checks have excellent data matching levels combined with solid PEP and Sanctions screening.”

Veriphy’s 15,000 clients all have access to a full suite of award-winning solutions deliverable via web, batch and API. The company has been trading since 2007, and is part of the Davies Group of companies.

To view the latest MONEYVAL report please click here.

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