Ignoring politically exposed persons (PEPs) or sanctioned individuals in your client portfolio will negatively impact your organization. Especially as a financial institution or a fintech that plays such a significant role in the financial crime world, it is crucial to be well-trained on how to identify and handle money laundering.
As criminals utilize money laundering to conceal the concrete source of their illicit money, Vespia helps you get more profound insights on customers to make better-informed decisions and set a compliant client onboarding process in no time.
AML compliance is not a nice to have or a necessary evil; it's a fundamental requirement. Since most crimes have a financial incentive at their core, limiting profits is a powerful way to devitalize corruption, tax evasion, theft, fraud, and numerous other crimes.
Vespia helps you fulfill global requirements by barring access to those who want to bypass your safeguards.
Control financial crimes and boost trust in your business.
The AML process is essential for the monetary and reputational standing of not only financial institutions, but also lending platforms, payment systems, legal and accounting services, and crypto businesses. Auditors and regulators legally require this approach.
Vespia grants access to pertinent information across all the structural units to make the right decision.
Scale your business quicker and save time with Vespia's automated AML screening process.
Get access to up-to-date and accurate data to help you make proper decisions.
Protect your business from legal penalties by keeping the bad actors out. Whether you're performing locally or internationally, Vespia provides a watchlist screening solution that circles the globe.
From over 4000 AML databases and commercial registers of 300 jurisdictions, Vespia gives you the support to know your customer better. Our AML compliance solution identifies PEPs and collects all the necessary profile information.
With Adverse Media Screening, you can recognize and safeguard your business from financial crimes such as money laundering, terrorist financing, corruption, bribery, fraud, human trafficking, smuggling, or tax evasion. Vespia solution aggregates the data into customer profiles for easy review.
Choose the entities that you want to monitor and get a notification whenever the person or company gets added to any watchlist or sanction list, becomes a politically exposed person, or has any adverse media added.
Aside from encountering administrative penalties, organizations that do not fulfill AML compliance can harm their reputation and lose clients.
The institutions' image is affected once associated with corrupt individuals or businesses. Vespia takes the lead to make your company stay compliant and offers an all-in-one automated tool.