Property Search Group – PSG – have announced a partnership to provide an enhanced Anti-Money-Laundering (AML) solution and support charity Smart Works in Greater Manchester.

Property search provider PSG have partnered with GB Group plc, world leaders in identity data intelligence and provider of AML Reports and Consumer Bank Account Checking technology, to provide conveyancers with an extra level of security during each transaction.

For every client who registers on PSG Connect to order their new AML services, PSG will donate £10 to Stockport based organisation SmartWorks on receipt of their first AML order.

A spokesperson at PSG said: “By enabling electronic identity verification checks as part of the conveyancing process, it is now possible to screen home buyers for a variety of compliance areas.

“We are committed to ensuring that you have access to all the tools you need to assist in your compliance and due diligence processes.

“We are also dedicated to supporting our local community and would like to invite you to help!

“When you register on PSG Connect to order our new AML services, we will donate £10 to local organisation SmartWorks on receipt of your first AML order.”

Stockport MP Ann Coffey visits Smart Work
Stockport MP Ann Coffey visits Smart Works

Smart Works Greater Manchester opened in June 2015 with a vision of bringing the dressing and interview coaching service to women in our region. After just a year of operation, they have seen almost 250 women and are proud to say over 70% have succeeded at getting a job.

Smart Works funding comes entirely from donations; it costs around £60K per year to provide their important services.

Read more about their work in empowering women here

Anti-money-laundering (AML) laws and rules exist to stop people (and businesses) generating income through illegal actions. And it is essential you ensure your business is meeting the required AML regulations wherever you are in the world.

It’s a massive challenge for businesses to strike a balance between compliance costs, commercial realities and risk to your reputation.

GBG have designed their technology to meet the globally recognized Financial Action Task Force (FATF) AML recommendations. Their multiple data sources for key markets across the globe adhere to some of the most stringent none face-to-face identity regulatory standards. It’s automated and online, reducing the use of paper-based ID checks, streamlining processes and removing the risks (and costs) associated with manual checks.

AML checks include automatic worldwide POLITICALLY EXPOSED PERSONS (PEPs) and Sanctions screening. Part of the latest 4th AML Directive includes Enhanced Due Diligence (EDD) for domestic PEPs, e.g. MPs, judges or high-ranking armed forces officers and their close family members and known close associates, as well as foreign PEPs.

Richard Dawson, Group MD at PSG, commented “We are delighted to integrate with GBG to introduce a globally recognised AML and Bank Account checking provision into our complete search service. We are committed to providing a comprehensive service to conveyancers and to support our customers with the tools they need to meet their due diligence and compliance obligations”.

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