Anti-Money Laundering guide

Vouched's Anti-Money Laundering feature (AML) performs a series of checks the candidate's name, date of birth, and country of origin against a database of real-time global sanction lists, warnings, and politically exposed persons to ensure that the candidate is safe to do business with. 

AML coverage types

Type	Description	Sample Lists	Update Cadence
Sanctions	List of persons or entities who are prohibited from using a financial system by government action	OFAC UN Consolidated EU Consolidated 125+ additional sanction lists	Every 3 to 15 minutes
Watchlists	Issued by law enforcement or other regulatory bodies targeting criminal or non- compliant behavior	Coverage includes over 1,000 global watchlists	Every 3 to 15 minutes
Politically Exposed Persons (PEP)	Flags potential government officials for further review and diligence	Proprietary database	Every 24 Hours

AML Screening

AML Screening checks the candidate's information against the AML databases, and provides a result at that particular point in time. This feature is useful for performing one-time checks on candidates.

Running AML checks

AML is a feature that is enabled by Vouched Support at the account level. This means that when AML is enabled, it automatically is run as an add-on to all IDV jobs.

If you need to verify a candidate solely with AML and don't need to run an ID verification, Vouched offers a standalone AML API endpoint, and requires these parameters:

• firstName
• lastName
• dob
• country

Once the check is performed, the match_status field is returned in the job result, and indicates if any hits were found with the candidate's information.

Politically Exposed Persons (PEP) classification

We have four classes of PEP, each based on FATF guidelines: