Scotland’s only whole practice management software provider has teamed up with Amiqus ID as part of the global fight against money laundering, identity fraud and terrorism financing. The new integration will save law firms up and down the country time and money by turning hours of paperwork into minutes of secure online compliance checks.
Amiqus has grown to be recognised as a trusted and secure online point of access for legal support. Their aim is to always improve in line with regulatory changes, making it simpler for legal professionals to comply with the latest data privacy standards while improving processes for your clients and staff.
Amiqus CEO, Callum Murray, said about the recent partnership: “We’ve built a world-class AML compliance product as a first step towards supporting legal firms into new ways of working. The Denovo integration means legal firms can spend less time doing their compliance admin and more time doing what they do best: providing a great service to their clients.”
80% of law firms find AML and KYC challenging – how can you make it easier?
Legal firms everywhere need to review their practices to ensure they remain compliant with increasingly stringent regulations. Ideally, systems and processes should be put in place that enable you to verify the identity of clients, and ensure they understand the true nature and purpose of the business relationships they engage in. Make it easier to meet regulatory requirements for AML by bringing your client and staff compliance checks and onboarding into one secure online account.
Conducting these due diligence checks enables you to take a risk-based approach and avoids exposing your firm to any potentially damaging circumstances.
How can Denovo and Amiqus help?
HM Treasury and the National Crime Agency in the latest National Risk Assessment clearly define the legal sector as being at high risk of money laundering. Therefore, the regulators and the Law Society of Scotland are clamping down on areas of weakness and setting out a plan to increase the frequency and intensity of AML and KYC inspections.
We’re at a point now where meeting these standards is the only way to maintain the ideals of regulatory best practice within the legal profession.
Steven Hill, Denovo’s Operations Director, added: “There is an obvious synergy between both organisations who are working towards a vision of removing all unnecessary manual tasks in the daily working life of legal practitioners.
“Moving from your current compliance process to a new, online system can be a daunting task. Along with Amiqus’s award-winning team we have built support networks to help you with this – whether that’s making sure it’s simple for staff to move away from paper-based processes, quickly answering day-to-day technical or regulatory questions, or ensuring costs are transparent.
“Working collaboratively with our case management software, Amiqus seamlessly integrates workflows, digital risk assessments, internal decision-making audits and client data with CaseLoad. All the data is stored in one place, so there’s no need for duplication. You’ll save yourself time and can be assured that you’re being consistent and secure.”
Amiqus ID makes it easy for you to meet the standards set with checks such as:
- Identity checks
- Credit reports
- Photo ID verification
- Basic disclosures
- Companies lookup
- Remote client onboarding
- Watch list (PEPs, sanctions and adverse media)
Mark McBride, Director at Wallace Quinn Solicitors & Estate Agents in Glasgow, was an early adopter of Amiqus ID. He had this to say about the importance of the integration with his Denovo practice management software: “Using a solution that is respected and approved by the Law Society helps to give confidence that our business and reputation is adequately protected from financial crime risk. The integration has helped us a lot. Being able to run the ID checks via the files and then saving them in automatically when approved has been a really good addition.”
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