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Digital identity checks - Smart Search

For quite a while now, firms / advisers have been asking about the possibility of “Electronic Verification” for the purposes of money Laundering verification, including address, sanctions and Politically Exposed Person checks.

Historically, the biggest barrier to being able to assist in providing this type of verification has been the large upfront costs charged by providers, together with the necessity to “book” a set number of “checks / searches” per annum, which need to be paid for, regardless of whether they are used. 

IFAC are very pleased to announce a special deal with Smart Search, exclusive to IFAC members:

Discounted costs for IFAC Ltd clients:

For 5 searches per month £3.18 per search

For 100 searches per month £2.75 per search

The above rates are for a simple one and done search where no Ongoing Monitoring is included. 

As part of the process, security information is provided on each search which allows the Adviser to “verify” who they are talking to by checking the relevant details, hence validating exactly “who they are talking to”. The level / amount of these questions would be at the discretion of the individual adviser, depending on answers received, any concerns etc. 

There are different pricing options available depending on the type of monitoring required, whether that be daily, weekly or monthly. The pricing is also dictated by the size of the package adopted, these are to be discussed on contact with SmartSearch.

The contract term has also been reduced from our standard 3 year term to a 1 year commitment and we have also removed the Licence Fee for IFAC Ltd members.

For anyone interested in taking advantage of the above, or wish to discuss further, please make contact via the details below, as this will ensure that you are allocated the specific IFAC deal should you decide to proceed.

george.grant@smartsearch.com 

or call 01133 202 985.