New York, NY – Verify 365, a leading technology company specialising in AML compliance solutions for law firms, has announced the launch of a new PEPs and sanction platform to help law firms comply with global anti-money laundering (AML) and sanctions regulations.
The announcement comes amidst the US Justice Department’s expansion of its hunt for Russian sanctions evaders to their financial advisers, with a focus on investment advisers, hedge funds, law firms, and private equity managers.
The new platform from Verify 365 highlights the need for law firms to have advanced technology solutions to comply with global AML and sanctions regulations, which is why Verify 365 is proud to offer its new solution to help law firms ensure compliance.
Verify 365 CEO Rudi Kesic notes that “our technology is designed to assist law firms in meeting regulatory obligations in a cost-effective and efficient manner, especially in the context of the US Justice Department’s expanding campaign to flush out sanctions evaders.”
Andrew Adams, head of the department’s Task Force Kleptocapture, has emphasised that investigators are using creative and secret tactics to identify and prosecute those who hide the assets of wealthy Russians, including how cryptocurrency can be used to conceal transactions for restricted goods or funnel retail-level payments to oligarchs, sanctioned companies, or Russian militias. The task force has seized or restrained more than $500 million in Russian assets during the past year, and the US wants to transfer the proceeds to Ukraine for reconstruction efforts.
Verify 365’s digital onboarding technology offers law firms a comprehensive suite of tools to ensure compliance with global AML and sanctions regulations, including advanced data analytics, automated risk assessments, and enhanced due diligence. The technology is designed to streamline compliance processes and help law firms stay ahead of regulatory changes, especially in the face of the expanding campaign to flush out sanctions evaders.
“At Verify 365, we are committed to providing our clients with the most innovative and effective compliance solutions,” added Rudi. “We understand the challenges that law firms face in complying with global AML and sanctions regulations, and we are proud to offer our new solution to help them ensure compliance in the face of the US Justice Department’s expanding campaign to flush out sanctions evaders.”
