Identity & AML Checks Explained

OnboardMe offers firms the ability to do three different types of Identity & AML Checks:

• Identity Verification Only

• Standard AML Check

• Extensive AML Check

Each check serves a different purpose, and AML Checks can be combined with Identity Checks for the same client.

Identity Verification Only

An Identity Verification is made up of 3 separate checks:

• Identity Verification

• Identity Document Verification

• Multi-bureau Check

The Identity Verification will ask the customer to provide a photo of their Driver's Licence (front and back) or Passport, along with a selfie.

Once the document and selfie have been submitted, OnboardMe runs 3 checks:

• Identity Verification: Checks the facial similarity between the document photo and selfie, and returns the following information:

  

• Identity Document Verification: Scans the provided document using OCR, validates it against known fraudulent documents, and checks whether the document is expired.

  

• Multi-bureau Check: Uses the client's entered information to run checks across multiple data bureaus, such as Credit Agencies, Telecommunications providers, and Electoral Rolls.

Each check will return a status of either Clear or Attention. If the status is Clear, the check has passed and no further action is required. If the status is Attention, the reviewing user will be prompted to review the information and take action based on the system's instructions.

Standard AML Check

AML checks use the provided client information to search across global databases and lists, such as Sanctions, Politically Exposed Persons (PEP), and Adverse Media.

The Standard AML Check covers only 1 of the 4 available PEP levels and does not include all available lists and databases.

Extensive AML Check

The Extensive AML Check runs the provided client information across all available databases and lists, including all 4 levels of PEP checks.