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Anti Money Laundering (AML) Module

  • Updated

The AML module can be activated on your account upon request. This module helps perform the necessary AML checks for vendors and purchasers, ensuring compliance with regulations. The below is a guide on how to set up and manage the AML module once activated.

Contents:

Applying system restrictions

Before utilising the AML module,  we can apply system restrictions to. This can be done by following the below steps: 

Step by step

1. Navigate into Settings > AML

2. Tick Show and apply system restrictions

3. Tick to apply the required AML settings

4. Click Save AML Settings once applied

Performing an AML check 

Step by step

1. Navigate to an example contact and into the AML tab

2. When the AML tab opens for the first time, it automatically creates a new AML check

3. We can then select your desired AML check, manage the status, upload supporting documentation, add properties, and include any necessary notes. Below is a breakdown of these fields:

The system will automatically save any updates made as you enter data within the AML module. This ensures that all changes are captured in real-time without the need for manual saving.

  • AML Check: - If multiple AML checks have been done on a contact, you can select the desired check to populate the relevant information

There is no limit to how many checks one contact can have performed.

  • Status: - Upon progress of the AML checks, we can update the status

  • Document/Files: - Here we can upload any supporting documentation for the AML check. We also have the option to view and download any uploaded documents

There is no limit on how many files can be uploaded. There is only a size limit, that is 50 MB per file.

  • Add Property: - Here we can search and add an existing Vault property to the AML check

  • Add Note: - Here we can add any relevant notes to the AML check. These notes will appear in the note section below with a date and time stamp applied. The notes will also populate a log of any changes made within the AML

Additional information

The system will not allow you to create further AML checks until the current one has been approved or rejected. 

Depending on how system restrictions have been applied as shown here, the system will flag a required action box to ensure that the AML check has been performed and approved before allowing you to proceed.

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