If you are an insurance broker then ensuring your client is not a sanctioned individual is essential as you are at risk of up to 7 years in prison and/or being fined if you are found to be dealing with an individual or entity on the sanctions list.
It is not only about knowing that your client is not sanctioned, it is about demonstrating to the FCA the processes that you have in place, and that is where we come in. We provide a robust audit trail of the searches you complete, and we re-screen all the clients within your account after each and every sanctions list update, so you are continually compliant.
Also available to you is our latest tool, ValidID. This sister tool carries out instant electronic anti-money laundering checks on your clients, at a competitive price. Not only can ValidID verify your clients identity, it can allow you to dig a little deeper in getting to know the individual by completing CCJ’s, insolvency and bankruptcy checks, validating passports and driving licences, along with verifying bank account details and other checks.
Our easy to use system is assisting many insurance brokers all over the UK with ensuring they are checking all the possible financial risks, particularly when dealing with high premium and/or overseas cases.