Anti-Money Laundering

Overview

Anti-Money Laundering (AML) watchlists are lists issued by national and international bodies such as the FBI, Interpol, and The United Nations that contain names of individuals and companies that have participated in criminal activities. Watchlists are usually updated by these institutions with the latest information they have obtained.

Mati's AML Watchlist Building Block checks your user against more than 1,200 international watchlists, sanctions lists, and politically exposed persons (PEP) lists to protect you from onboarding users who might be criminals, terrorists, money launderers, fraudsters, or PEPs.

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Features

  • Basic Watchlist Check

    We check whether a user is listed on 20 international watchlists as a free service that you can include into your trust experience. If a user is on a list, we will mark the verification as "Review Needed".

  • Premium Watchlist Check

    If enabled, we check whether a user is listed on 1000+ premium AML watchlists. If a user is on a list, we will mark the verification as "Review Needed".

  • Premium Watchlist Monitoring

    If you are using Premium Watchlists, you can enable daily premium watchlist monitoring. We will run a daily check of each of your users to determine if they are on the watchlist. If a user is found on a watchlist during a monitoring check, we will send you a webhook notification and mark the verification as "Review Needed".

  • Customize fuzziness of name matching

    If you are using Premium Watchlists, you can configure how strict or "fuzzy" the name match should be between your user's ID document and a watchlist. A fuzziness of 0 means the name has to match the document exactly without switching the order of names or checking for accented characters. A fuzziness of 100% means we can look for a match by switching the order of all letters. The recommended range is between 30% and 90% fuzziness.

User Flow

To complete an AML Watchlist check, a user has to complete the Document Verification step.

How it Works

If a user passes the Document Verification step and the AML Watchlist step, they will be "Verified". If the user fails the AML Watchlist step, they will be marked as "Review Needed".

Setup

Step 1: Setup verification flow

The first step to setting up AML Watchlists is to create a new Trust Experience in the Dashboard. Once you've created a new experience, add the AML Watchlist product to the user flow.

There are two main configurations:

  1. Basic watchlist check
  2. Premium watchlist check

Basic watchlist check setup

Implement this configuration if you want basic watchlist coverage for your users.

To implement this:

  1. Login to the dashboard, and create a trust experience
  2. In your trust experience, add the AML Watchlist building block
  3. Update the Document Verification configuration
    • Click on "Add Step 1" and choose the document type options you will display to users
  4. Click "Save" and your experience is ready to use

Premium watchlist check

Implement this configuration if you want the most robust watchlist coverage for your users.

To implement this:

  1. Login to the dashboard, and create a trust experience
  2. In your trust experience, add the AML Watchlist building block
  3. Update the AML Watchlist configuration in the right hand panel
    • Turn on the "Search" toggle to enable Premium Watchlist checks
    • If required, turn on "Monitoring" to enable daily watchlist monitoring
  4. Update the Document Verification configuration
    • Click on "Add Step 1" and choose the document type options you will display to users
  5. Click "Save" and your experience is ready to use

Step 2: Integrate

There are 3 ways you can use Mati's AML Watchlist:

  1. Direct Link -- Send your users a link to sign documents on Mati's prebuilt UX
  2. Mati Button Button -- Integrate our Mati Button SDK into your application to use our prebuilt UX
  3. API -- Integrate our API into your application and build your own AML Watchlist UX

Direct Link

If you are not a developer, or you don't have the resources to integrate at this time, you can start using Mati's AML Watchlist block in minutes without any code using our Direct Link.

To implement this:

  1. Setup the verification flow for AML Watchlists in the dashboard
  2. Get the Direct Link
  3. Send the Direct Link to your users

Integrate our Mati Button via SDK

Use our SDK integration if you want to use Mati's verification tools but design your own verification experience for your users.

To implement this:

  1. Setup the verification flow for AML Watchlists in the dashboard
  2. Install and implement an SDK framework

Integrate via API

Use our API Integration if you want to use Mati's verification tools but design your own verification experience for your users.

To implement this:

  1. Setup the verification flow for AML Watchlists in the dashboard
  2. Send a request to the Authentication endpoint to get a authentication token
  3. Pass your Experience ID into the Create Verification to get the verification id and the inputs
  4. When your user uploads their ID document, pass your verification id and inputs into the Send User Identifiers endpoint

Step 3: Process Verification Results

AML Watchlist Checks will result in a "Verified" or "Review Needed" status. but never a "Rejected" status.

There are two ways you can process verification results for AML Watchlist checks:

  1. In the Dashboard
  2. Using Webhooks

Dashboard Verification Results

In the dashboard, under the Verifications tab, the document summary for each verification will show whether or not a user was a match with a watchlist.


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