TMA launches anti-money laundering checks through SmartSearch

Michael Lloyd

March 5, 2018


TMA Club has launched SmartSearch to enhance its electronic identification checks (EID) so within three seconds of inputting data, advisers will have access to a completed AML check.

From immediate effect, DAs can use SmartSearch to conduct EID searches to ensure advisers are able to provide the most comprehensive anti-money laundering (AML) checks.

This will provide advisers with a clear pass or refer result, including automatic worldwide sanctions and politically exposed person (PEP) screening. Other features include ongoing monitoring, a deceased check and potential fraud alerts.

Rob McCoy, senior product and business manager, TMA, said: “We pride ourselves on being more than just a mortgage club.

“Providing our DAs with a first-class proposition and unrivalled compliance support is how we continue to support the Directly Authorised mortgage market.

“This introduction of SmartSearch means we are able to provide extensive, worldwide, anti-money laundering checks in a matter of seconds, so our brokers can focus on their clients and growing their business.”

SmartSearch’s anti-money laundering verification platform helps to prevent fraud by conducting both individual and business searches for the UK and international markets.

The firm provides a one-stop shop for AML checks and partners with data suppliers, including Dow Jones, Experian and Equifax, in order to access a wide reach of data. The searches leave only a soft footprint on a client’s credit record, so has no material impact on a client’s ability to secure credit.

Steven Taylor, head of new business, SmartSearch UK, said: “We are delighted to be working with TMA Club – it already has an extremely comprehensive and compelling proposition and the addition of the SmartSearch platform will only enhance this.

“SmartSearch will allow TMA Club advisers to quickly and efficiently undertake the ‘Know Your Customer’ checks and ensure compliance is fully aligned with the stringent Money Laundering Regulations 2017.”

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