iDenfy, a global RegTech firm known for its identity verification and fraud prevention solutions, has introduced a new Anti-Money Laundering (AML) screening platform.
This platform is built to screen individuals and businesses against numerous AML databases, including global sanctions lists, aimed at aligning with international regulatory standards.
The enhanced platform offers an automated system that effectively detects, prevents, and monitors money laundering risks, leveraging high-quality data sources. This aligns with iDenfy's broader effort to provide a consistent and auditable compliance framework across its suite of products, such as Know Your Customer (KYC) and Know Your Business (KYB) systems.
AML Screening Platform Features
This upgraded AML Screening platform introduces a documented operational workflow designed for transparent compliance settings. It provides real-time monitoring tools for organizations to check individuals and entities against global sanctions,
Politically Exposed Persons (PEPs) lists, and adverse media datasets. Enhancements over previous versions include improved AML results and reduced manual data entry for compliance teams.
Innovative Labels and Risk Categories
iDenfy CEO Domantas Ciulde highlighted new labels and risk categories, stating: “You need to enter the person’s name, and that’s basically it, since the system collects, verifies, and cross-matches their personal information, providing you with a full risk profile in seconds.”
This streamlined process removes the need for manually entering multiple details to access AML results, simplifying access to PEPs or sanctions lists.
Advanced AML Screening Software
The platform's new configuration structure allows management of AML match thresholds
The platform's new configuration structure allows management of AML match thresholds, PEP risk tiers, and sanction filters.
With the capability for both manual and automated checks, triggered via dashboard or API, it offers flexibility for financial institutions, fintechs, and regulated industries managing high client volumes. AML checks can seamlessly integrate with other iDenfy KYC and KYB systems, ensuring instant onboarding processes.
Handling High-Risk Clients
The update introduces advanced logic for handling high-risk clients, such as PEPs. It classifies PEPs based on influence and exposure, aiding organizations in applying due diligence measures efficiently.
For instance, Tier 1 includes heads of state, whereas Tier 3 covers local officials, helping to reduce operational strain by targeting due diligence efforts.
Detailed AML Dashboard
iDenfy's AML dashboard automatically adjusts filters based on partner settings, allowing for comprehensive searches and risk status evaluations.
It moves from using binary tags like "AML suspected" to more detailed results classifications such as “Flags found” or “False positive,” enhancing clarity in AML screen results.
Comprehensive Data Extraction
The platform utilizes over 45,000 public sources from 210+ countries, incorporating data from entities like the United Nations and the European Union. Each verification is thoroughly documented to create a verifiable audit trail, with continuous data updates ensuring dynamic PEP database accuracy.
Aligning With Regulatory Standards
Regulatory bodies like the Financial Action Task Force (FATF) emphasize the need for automated AML tools to tackle complex cross-border threats effectively. Domantas Ciulde commented, “In today’s environment, regulators expect more than meeting compliance standards; they expect accountability and precision.”
Viktor Vostrikov, CMO of iDenfy, underscored the system's value, stating that clear documentation and traceable actions help protect companies from regulatory risks while strengthening customer relations.
iDenfy, a global pioneering RegTech company specializing in identity verification and fraud prevention, announced the launch of its new Anti-Money Laundering (AML) solution, designed to screen individuals and businesses against various AML databases, such as global sanctions lists.
The updated framework defines how iDenfy’s automated AML system prevents, detects, and monitors money laundering risks to provide the best suitable tool to comply with international regulatory standards and recognize fraud with world-class data sources.
AML Screening platform
The new AML Screening platform introduces a fully documented and updated operational workflow, which is designed to ensure consistent, transparent, and auditable compliance settings across all iDenfy products, including Know Your Customer (KYC) and Know Your Business (KYB) verification systems.
It provides organizations with advanced tools to monitor individuals and entities against sanctions, Politically Exposed Persons (PEPs) lists, adverse media, and other risk datasets in real-time. Compared to the old software, iDenfy has improved many areas, especially in areas like retrieved AML results or the manual input that compliance teams use.
New labels and risk categories
According to Domantas Ciulde, the CEO of iDenfy, there are new labels and risk categories, with all individuals and their portraits added to the dashboard:
“You need to enter the person’s name, and that’s basically it, since the system collects, verifies, and cross-matches their personal information, providing you with a full risk profile in seconds.”
“This allows companies to forget challenges like manually entering multiple details about the individual to get the system to return AML results, including other standard issues like manually accessing different PEPs or sanctions lists.”
AML Screening software
The newly presented AML Screening software introduces a new configuration structure that allows iDenfy partners to manage AML match thresholds, PEP risk tiers, and sanction filters within a single platform.
It enables both manual and automated AML checks, triggered via dashboard or API, that ensure a greater flexibility for financial institutions, fintechs, and other high-risk, regulated industries that juggle a high volume of corporate clients. In addition, AML checks can now be performed instantly during onboarding processes, as well as seamlessly integrated with other iDenfy’s KYC and KYB systems.
Advanced logic for handling high-risk clients
The update also introduces advanced logic for handling high-risk clients, such as PEPs. iDenfy’s new classification helps clients evaluate the risk of both foreign and domestic PEPs, their family members, and close associates.
Now, the new AML software assigns PEP tier levels based on their influence and exposure. As an example, Tier 1 shows heads of state and senior ministers, and Tier 3, local officials or lower-risk positions. These classifications help organizations to apply enhanced due diligence measures only when necessary, eventually reducing operational friction.
iDenfy’s AML dashboard page
In addition, iDenfy’s AML dashboard page is able to automatically adjust custom filters and changes based on the partner’s setup. Users can check risk lists and execute search results to get information about a particular person, along with search details and overall AML check status.
As a result, instead of “AML suspected” and “AML not suspected” result tags, now there are improved, more accurate results via wording like “Flags found”, “Flags not found”, as well as “True positive” and “False positive” symbols that simplify detailed AML screening’s results.
Extracting information
iDenfy’s AML platform extracts information from over 45,000 official public sources and databases across more than 210+ jurisdictions, including the United Nations, European Union, OFAC, and other national authorities.
Every verification is recorded in full detail, including search parameters, datasets, timestamps, and reviewer comments, to maintain a verifiable audit trail. The system also supports continuous data updates, the PEP database, and refreshes it within 48 hours of any global election or leadership change.
By adopting all needed sanctions and PEP data from multiple jurisdictions in a simple dashboard with easy-to-read instructions, iDenfy allows companies to stay up-to-date with changing regulatory requirements, especially in today’s landscape, where geopolitical uncertainty is a major factor.
Regulatory watchdogs
It’s worth mentioning that the regulatory watchdogs like the Financial Action Task Force (FATF) also continue to emphasize the importance of automated, technical AML tools, urging businesses to implement AI-powered verification, screening and monitoring systems that are capable of detecting complex cross-border threats and reducing false positives while onboarding new users.
“In today’s environment, regulators expect more than meeting compliance standards; they expect accountability and precision. Our new AML system is designed to help other companies meet those standards by integrating efficient automation, real-time data intelligence, and clear operational logic,” added Domantas Ciulde, the CEO of iDenfy.
“Our partners operate in sectors where reputation and trust are everything. With our new AML Screening solution, every dataset, every recheck, and every action is fully documented and traceable. This clarity not only protects companies from regulatory risks but also strengthens their relationships with customers,” commented Viktor Vostrikov, the CMO of iDenfy.
