Smart Search has unveiled money laundering cover designed for business operating remotely over the coming months.


Financial services need verification checks on customers, which is no more possible to do in person with the outbreak of the virus. According to Chief Executive at SmartSearch, John Dobson, businesses are now difficult to operate remotely. Nevertheless, businesses like property, legal, and financial services should not be affected by the AML regulations. But as it is now, we have no idea of how long the pandemic will last, however, by stating the benefit of electronic verification, businesses will be assured that it can remain compliant with money laundering regulations. Fortunately, there are specific measures to affected businesses, helping them protect the business and work from a distance until the pandemic lasts.

The directive that businesses should ensure due diligence for customers electronically was issued on January 5, 2020. Dobson said that in the post-Brexit world, it is possible that FCA agency controls money laundering regulations and also insists that electronic checks are made compulsory.