Trouble getting along with the AML rules and regulations in the EU?
With today's development of the EU regulations, all companies are taking further steps into verification and AML/CFT compliance. Whether it is obligated or not, it is becoming crucial to put a verification process to gain customers' trust.
For an E-commerce business or a border trading firm from beyond Europe, it might look hard to implement an adjustable process that goes along with the ever-so-changing EU regulations. Vespia makes it easier for you.
Automate the sanctions screening process for better compliance
By blending the latest technology with reliable and secure real-time data, Vespia is well-positioned to assist companies in defining the sanctions landscape and run a comprehensive program that minimizes the risk of a sanction.
Customization of AML risks data and analytics
Global trade companies can pinpoint faster the parts of the business that are more vulnerable to engagement from prohibited companies or individuals. In addition, experts can build their AML flow from one source of truth without wasting time collecting and cleaning the data.
Highest fraud detection accuracy
By evaluating ownership information and verifying that entities are not on sanctions lists, an AML Officer can easily make a decision on whether to work with the company or not. Vespia is leveraging more AML data points so that trade companies can catch more valid hits than other solutions to safeguard their brands.
Compliance AML as an asset, not a barrier!
Vespia will help you get peace of mind by screening your customers and providing real-time data from over 4000 AML databases and commercial registers of 300 jurisdictions.
The continuous manual monitoring of your whole customer base against watchlists can be a daunting task. It is both resource-intensive and time-consuming. Vespia helps global trading companies get inquiries and fetch from one platform real-time data about current and potential customers such as legal name and registration code, business address, company status, and managing directors.
How can Vespia become your AML department?
Vespia helps you make the AML Management process fast and accurate and ensures customer satisfaction while keeping your business safe.
- See the results in less than 30 seconds
- 37x cheaper
- Over 4000 AML databases
- Commercial registers of 300 jurisdictions
How does it work?
1. Start the compliance process with minimal input. To make a request, all you need is:
- Company name
- Registration code
- Country of incorporation
2. AML data is shared with global trade companies
- The data is communicated through custom API calls, or you can access it through an outstanding Dashboard.
3. Connected entities of the company are screened and checked. Next, the people and other entities of the company are screened at onboarding and checked against global sanction lists: - PEP and Sanctions lists
- Adverse media
4. Actionable resultsYour compliance team can automatically rule out the vast majority of false positives and investigate the remaining hits to deliver a conclusive result.
5. Reporting and audit trailStart building your compliance report with conclusive outcomes and an audit trail.