Learn more about IRIS AMLIRIS AML software enables accountants, solicitors, and other regulated businesses to perform all aspects of compliance recording and monitoring. You can manage and document all AML related policies and procedures and implement a risk-based assessment scheme for all your clients.
What IRIS Anti-Money Laundering (AML) can do for you
Integrated document management allows for the importing of existing electronic client documents and the scanning of paper-based supporting documents.
- Appoint a member of the board or management team to be responsible for compliance and screen employees that work on the firm’s AML procedures.
- Outline procedures to analyse their clients’ potential exposure to money laundering or terrorist financing.
- Carry out a risk assessment and provide details to their regulatory body if/when requested.
- Demonstrate that risk assessments are conducted, kept up-to-date and acknowledge risk factors relating to their customers.
- Retain records of Customer Due Diligence documents and supporting evidence for at least five years after the end of the business relationship. At the end of the five-year period, the personal data can, in most cases, be deleted.
IRIS Anti-Money Laundering (AML) provides instant solutions for:
Ensuring your practice is compliant with UK Money Laundering regulations.
Expert help and ‘wizards’ show what is required to achieve compliance, including a comprehensive AML compliance technical reference manual UK.
Clear guidance on acceptable customer due diligence options based on the entity type and risk profile.
An integrated resource to download and search HM Treasury’s latest Consolidated List of Financial Sanctions Targets in the UK.
IRIS AML flags up non-compliance through a quick and easy to read traffic light system (using green, amber and red icons). It assesses client risk and records Know Your Client information. It allows staff to raise a suspicious activity report and helps the Money Laundering Reporting Officer control these reports. It also connects to Companies House and provides a free search confirming the name and address of the company.
Up to date
IRIS AML will help you manage and document all AML related policies and procedures, including fully integrated electronic ID and sanctions/PEP (Politically Exposed Persons) checks, and implement a risk-based assessment scheme for all your clients.
Training and education
You’ll get comprehensive staff training through the Newswire & Training Modules to ensure the whole team is equipped with the required knowledge of the rules. It carries the ability to track when staff have completed training. Comes with AML compliance technical reference manual by SWAT UK Limited.
IRIS AML removes the stress of ensuring your practice is compliant and uncovers non-compliance across your client base. It reduces the need for paper audit trails and ensures your whole team is well trained and up to date on the legislation and the requirements. It lowers the high operational costs of compliance and risk prevention.