Resources & Insights

Leading UK RegTech specialist SmartSearch has warned against the dangers of rushing through anti-money laundering checks, in a bid to beat the upcoming stamp duty holiday deadline at the end of June    

As a member of the European Union (EU), the UK’s anti-money laundering (AML) laws were dictated by the European Parliament’s Money Laundering Directives. But, on 31 December 2020 - four years after the Brexit vote - the UK finally left the EU. So, the question is, what happens to the UK’s regulatory environment now that it is no longer governed by the EU?

NatWest’s landmark money-laundering case has dealt a huge blow to consumer trust in online banking; an industry that more than three quarters (76%) of UK consumers already admit they don’t fully trust, according to research from anti-money laundering specialists, SmartSearch.

The ongoing lawsuit being faced by the high street bank has put others on high alert to the threats and scale of money laundering in the UK, but experts warn this case is the tip of the iceberg when it comes to financial crime in the UK.

So, what can businesses learn from NatWest to avoid the same costly pitfalls?

SmartSearch, the UK’s leading anti-money laundering (AML) solution provider, has called on lenders, brokers and conveyancers to learn the lessons from the Government’s failure to prevent the loss of £billions in Covid-related fraud over the past 12 months.

Leading UK anti-money laundering (AML) and ID verification firm SmartSearch is launching the most comprehensive business-owner verification solution on the market, in a bid to counter the spike in the number of scams involving fake businesses.

Award-winning company SmartSearch Ltd, has today been recognised as one of the leading providers of regulatory technology (RegTech) software. For the fourth consecutive year, SmartSearch has been included in the prestigious ‘RegTech 100’ list, in recognition of its leading role in combatting money laundering.

 The 2021 list recognizes the tech companies transforming compliance, risk management and cybersecurity.

SmartSearch, the UK’s leading anti-money laundering (AML) solution provider, has revealed 2020 was the most successful year in the company’s history, with double digit boosts in sales and profits.