AML Watcher Launched Open-Search Screening Tool For Enhanced Compliance & Transparent Financial Systems

July 18, 2024 at 01:43 AM EDT

Delaware, US – May 8, 2024 – Aiming to make AML compliance easy and accessible for all, AML Watcher has rolled out an open-search tool for businesses struggling to align their operations with evolving regulations.

Effective compliance comes where innovation meets accountability. The shocking stats of laundered money in 2023 contributed to 5% of the global GDP ($4.7 trillion) reflect the magnitude of compliance challenges global businesses have to overcome. The complexity and incompetency of compliance solutions marked more than $8 billion in AML failures.

Right when institutions are struggling to survive under increasing regulatory pressure, AML Watcher kicked off an open-search tool for both growing and established businesses. The open-search tool that functions on a proprietary database will allow businesses to screen clients from global sanctions lists, politically exposed person (PEP) lists, and global watchlists.

“With the launch of our open-search tool, we are setting a new standard in AML compliance. Designed to facilitate businesses in achieving effective compliance, the tool will offer a user-friendly interface, advanced search capabilities, and as easy to operate as searching for your favorite video from YouTube”, said Kristina Zakharchenko, VP of Sales at AML Watcher.

Narrating the need for effective and easy compliance, Kristina added, “AML compliance serves the public good and we believe it should be accessible for all. Our open-search tool will allow small businesses to experience compliance without breaking an arm or leg and established businesses will be able to scale and customize it according to their compliance needs”.

“The open-search tool performs screening by using real-time global AML data. We opened the tool for everyone who thinks compliance is like solving a puzzle with missing pieces but, not anymore. We aim to revolutionize AML screening with simple, safe, and fast solutions to complex compliance challenges” Karim Muhammad, Marketing Manager of AML Watcher.

There’s more to it. The open-search tool is embedded with cutting-edge tech innovation in Biometric AML screening that significantly reduces false positives and ensures effective compliance.

About AML Watcher

‘Simply accurate’ is the ideology behind AML Watcher’s vision, an innovative anti-money laundering solution provider who understands the diversity of compliance problems. Strengthened with a data-centric screening solution, AML Watcher enables all-size businesses to achieve efficient and customizable compliance goals with simple mechanisms. It offers diverse AML compliance coverage for 235+ countries leveraged by 60,000+ enriched data sources. AML Watcher blends accuracy and simplicity in a unified solution setting a benchmark in the compliance history.