Trulioo enhances Anti-Money Laundering watchlist feature to help banks


Vancouver-based Trulioo, a global ID verification company providing analytics from traditional and cyber data sources to verify identities online, announced an enhancement of its Global Gateway flagship platform to meet increasing Compliance regulations.  The company has updated its anti-money laundering watchlist capabilities to include more extensive country-specific sanctions lists, as well as an enhanced politically exposed persons watchlist containing over one million entities worldwide. The platform is targeted to financial institutions that, according to Trulioo general manager Zac Cohen, have had to complete the costly process manually.

“Last month, FinTRAC updated its AML guidelines to offer financial institutions more impetus to leverage flexible methods for verifying identities. With increased specificity for verifying identities in a non-face-to-face situation, financial institutions now have two different methods available — single source and dual process,” said Cohen.