AML API

Updated on 22.11.22
8 minutes to read
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Overview

 

Complement your fraud prevention toolkit with anti-money laundering tools. AML API makes anti-money laundering checks efficient and pain-free. 

Pair the data unearthed by our data enrichment tools with PEP, sanctions, and high-risk names list checks to counter fincrime all in one place using SEON.

 

Using AML API

 

You can use AML API as a part of:

  • our Fraud API integration
  • A standalone API
  • or through the SEON Admin Panel

Using your customer's first name, middle name, last name, and place and date of birth, we check matches and similarities in 40 different data sources including:

  • Politically Exposed Persons (PEPs) & Relatives & Close Associates (RCAs) Customize who you consider a PEP based on your risk appetite. See if they’re connected to known relatives and close associates.
  • Sanctions Check names against global sanction lists automatically at onboarding and turn on ongoing monitoring to ensure you stay compliant. Catch name variants and known personas.
  • Crime lists Identify those who are on FBI, INTERPOL, and DEA.
  • Watch lists Learn if your customer is on any watch list or under a warning from financial authorities around the world.

Monitoring List

Head to the AML Screening tab of the Monitoring page in the Admin Panel to see a list of customers that you have screened with AML API. The list shows all queries sent over your API integration. Checks conducted from the manual page are only listed if monitoring has been turned on.

See potential matches and their respective probabilities from the list view, alongside the timestamp of your latest check, status information, and the monitoring toggle. Click on a row to review the potential matches.

Persons of interest in the list can have one of three states:

 

  • New This customer has just been added to your database and hasn't been reviewed by your team before.
  • Reviewed Your team has reviewed the potential matches of this person and taken any required action.
  • Reopened This customer's case has to be reviewed again due to a change in their data, new potential hits, or suspicious activity.

 

AML Screening Details

The Screening details page houses three widgets to accelerate your KYC and AML checks:

  • Identity widget Shared with the Transaction Details view, this widget showcases all information on the digital footprint of a user collected by SEON. Learn more on the Transaction Details – Widgets page.
  • AML Screening widget This widget showcases all information connected to your AML API request, including input data, potential matches, and a list of data sources. Click Refresh Data to run the API check again manually.
  • List status widget The List status widget lets you add data fields connected to AML API results to your blacklist, whitelist, or any custom lists right from the details view. Learn more on the Transaction Details – Widgets page.

 

Reviewing potential matches

Head to the Hits section of the AML Screening widget and click on View hits to access the list of potential matches based on data similarity and known associates and aliases (also known as – akas). Expand the Listing Hits menu to review possible matches.

Matches are sorted by list type. Click on a potential match to see its details on the right side of the panel. If the hit is a false positive, i.e., your customer is not the same as the person detailed in the match, click Mark as false match in the top right corner of the modal. Proceed to the next hit. You do not have to mark correct hits.

If all potential matches are false, you can click the Mark all hits as false match button under the list of hits. Click Close to suspend your review of a given customer. Choose Mark as Reviewed when you have completed your check of the potential matches. This will change the state of the customer to Reviewed.

 

Automatic monitoring

You can enable the automatic monitoring of high-risk customers using the toggle on the AML Screening list view or the Summary section of the AML Screening Details page.

When automatic monitoring is enabled, SEON will re-run checks on the selected customer every month. If we find any changes in the data the person of interest’s status will change to Reopened.

Data Sources

 

AML API collects potential hits from the most important global sanctions, PEP, crime and watchlists. See the detailed list below:

Sanctions

Global sanctions list regularly updated by governments and multilateral bodies:

  • OFAC (United States)
  • Denied Persons List by the Bureau of Industry and Security – BIS (United States)
  • UN
  • HMT (UK)
  • EU
  • DFAT (Australia)
  • Consolidated Canadian Autonomous Sanctions List
  • World Bank Listing of Ineligible Firms and Individuals
  • African Development Bank Group – List of Debarred Entities
  • Asian Development Bank – Debarment List
  • European Bank for Reconstruction and Development – Debarment List
  • Inter-American Development Bank – Debarment List

Crime Lists

  • FBI Most Wanted Fugitives
  • INTERPOL Fugitives
  • US Drug Enforcement Fugitives List (DEA)

Politically Exposed Persons (PEPs), Relatives & Close Associates (RCAs)

PEP search datasets can be customized based on risk appetite:

  • Politicians and diplomats from 199 countries
  • Senior employees of state-owned or state-linked corporations in Europe
  • Senior law enforcement officials in Europe
  • Judges in Europe

High-risk names

  • 70,000+ names of individuals found on sanctioned or watchlisted entity websites
  • 100,000+ names of entities found on sanctioned or watchlisted entity websites

Watchlists

  • Warning data of European financial authorities:
    • FCA – UK
    • FSA – Finland
    • BaFin – Germany
    • FinMa – Switzerland
    • ACPR – France
    • IOSCO – Global
    • HCMC – Greece
    • CBI – Ireland
    • MFSA – Malta
    • ATVP – Slovenia
    • Bank of Lithuania
    • FKTK – Latvia
    • ASF – Romania
    • Magyar Nemzeti Bank – Hungary
    • Finansinspektionen – Sweden
    • Danish Financial Supervisory Authority
    • Office of the Comptroller of the Currency – Enforcement Actions (United States)
    • British Columbia Securities Commission
    • Financial Markets Authority (New Zealand)
    • Monetary Authority of Singapore
    • Security and Futures Commission (Hong Kong)
    • US Securities and Exchange Commission

 

Learn more

Read more about how you can use AML API:

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