AML Lookup and ID Verification

A lookup will run as soon as the client completes their section. This can be configurable to firm’s unique preferences so that the process aligns well with the operations.

Note: The information used for these lookups are the name, date of birth (DOB) and address that were entered in the workflow. 

Possible results can be explained as followed:

• A Green Check appears when the name, DOB and address match a credit file that has been open for at least 3 years and is derived from at least two trade lines.

• A Red X and a warning will appear when the name, DOB and address have existed for between 6 months and three years or when the information matches with an individual in one of these watchlists (for AML Lookup):

1. Canada Sanctions Justice for Victims of Corrupt Foreign Officials Act

2. DFATD Canada Special Economic Measures Act Designations

3. Public Safety Canada Listed Entities

4. United Nations Security Council List of Designated Vessels

5. United Nations Consolidated

6. UN Consolidated - Related Entities

7. Canadian Freezing Assets of Corrupt Foreign Officials Act Sanctions.

If the lookup fails, it has to be Ignored with a note explaining your decision.

Once it's Ignored, a Yellow Triangle will display instead of the Red X as shown below.

Here are some examples of failed results:

Finally, the Credit File Ascertainment Report can be generated and added to the Documents list once the entire workflow is approved. Here’s how to retrieve the file report:

• Navigate to the Investor tab in the left-hand sidebar, then select the Investor you’d like to extract the report from. 
• In the Documents tab, find and download the Credit File Ascertainment Report.

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FAQs:

When are these lookups run? 

• The lookups will run once the designated signatory completes their section.
• If the advisor’s/compliance form role is queued after the investor’s form role, they will see the results of the look-up hook immediately after it’s run.

Are the ID Files uploaded in the Workflows used to do verification? 

• No, we only use the name, DOB and address that were entered in the Workflows. The ID files uploaded are for the client’s records only.

Is it using their SIN numbers to look them up? If not, why are we collecting it?

• No. SIN numbers are optional for the lookups, and aren't necessary to pull up a credit file as SIN numbers don’t appear on the watchlists.