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Anti-Money Laundering (AML) Functionality
February 2005The Financial Sanction Check tool has been implemented at an increased number of institutional clients this year, with some of the more specialist UK & European life insurers purchasing the software for its superior functionality for anti-money laundering and politically exposed person checking. Sanction checks are automatically performed daily, triggering an e-mail to the insurance company's nominated officer when a match is found between a client's details on the LIFEfit system and on one of the specialist online databases, client's own files, regulators files or World Check. ||
