Summary











There are two main workflows that can be utilised when businesses opt to outsource their CDD/AML obligations to First AML. The type of reporting entity that your business is will determine which of these models will be the best fit for your needs.

 

Both of these flows will require your business to:











  • Identify the individuals and/or entities that need to be verified.
  • Inform the relevant parties that First AML will be contacting them to request information for verification purposes.
  • Submit a case through the First AML Platform, providing the relevant Risk Assessment information.
  • Approve the CDD in the First AML Platform.










TABLE OF CONTENTS





















Real Estate











Real Estate Agents tend to meet with vendors quite often, so the ability to submit cases via a WebApp on the phone and even verify individuals in real time really speeds up the case closure time, ensuring listings can be met in a timely fashion. Selling and purchasing property can be a stressful process, so ensuring that your Customers CDD/AML verification runs smoothly really helps to strengthen those Customer relationships.









































Other Verticals











For other types of reporting entities such as accounting or law firms, outsourcing your CDD to First AML could look similar to the below diagram, with the Compliance Officer/Team generally managing the relationship with First AML. 











Our team of AML Specialists will endeavour to obtain all the required information from your Customers as quickly as possible, whilst trying to minimise any pain points that you or your Customers may be concerned about.