Top Anti Money Laundering (AML) Software & Tools 2024

List of AML Software and Tools

What Is Anti-Money Laundering (AML) Software?

Anti-money laundering (AML) software is designed to help companies meet regulatory requirements to combat financial crime and money laundering and avoid crime that constitutes a crime in itself.

Most AML software checks customers against sanctions, PEPs, crimelists, watchlists and adverse media screening and enables continuous monitoring and transaction monitoring to complement Know Your Customer (KYC) and Know Your Business (KYB) checks. 

Incorporating AML Software Within the Customer Journey 

You need AML software that ensures security, compliance and a seamless user experience at every step of the customer journey. Here’s how AML software plays a crucial role throughout the customer lifecycle:

  1. Customer Onboarding: The first step of the customer’s journey is the foundation for a secure and transparent relationship. Certain regulations require checking if you’re allowed to do business with the onboarding user. A key part of this is understanding the regulatory requirements for your business and the AML screening lists you need to check new customers against, such as PEPs, sanctions and financial crime watchlists.
  2. Ongoing Due Diligence: As the relationship progresses, continuous due diligence becomes a cornerstone of AML efforts. This is not about invasive scrutiny but about maintaining a secure environment for all customers. Building an AML risk strategy tailored to your business and customers is key for AML risk identification. Software equipped with the ability to create custom rules and automate checks is key for unlocking an effective AML program that reduces false negatives.
  3. Complete Transaction Monitoring: Transaction monitoring is a critical component of AML strategies. However, monitoring for high transaction amounts is not always enough. Combining AML transaction monitoring with other digital signals and data points can provide a more comprehensive picture of your customers and make more informed decisions.  
  4. Robust Feedback Loops: The key to unlocking an effective AML program is robust feedback loops that drive ongoing improvements. Machine learning technology is essential to ensure enhanced performance, catching trends and patterns that the human eye can’t see. However, these algorithms also require sufficient transparency to ensure alerts appropriately identify suspicious activity.

The Best Anti Money Laundering (AML) Software & Tools

Disclaimer: Everything you’ll read in this article was gleaned from online research, including user reviews. We did not have time to manually test every tool. This article was last updated in Q1 2024. Please feel free to contact us to request an update/correction.


Imagine having your AML and fraud prevention data all in one place. Not only could you screen for PEPs, sanctions, adverse media, RCAs and SIEs/SIPs, but you could also combine that screening information with digital profiling and device fingerprinting data you already collect during customer onboarding, such as email, phone number, IP, hardware and software information and more. With SEON, you can accurately validate customer identities and intentions on the same platform using a single API call. This unique approach allows risk and compliance teams to reduce false positives while also streamlining and reducing manual review time.

Here’s what makes SEON one of the most trusted AML and anti-fraud solutions on the market and a top-tier solution on G2

  • All the data you need in one platform, increasing cross-collaboration among risk and fraud teams and reducing time spent on manual reviews.
  • Customizable rules tailored to your risk tolerance enable you to tailor AML screening to specific regulatory requirements and increase AML detection accuracy for screening and transaction monitoring.
  • Transparent AI-driven insights help you uncover patterns unrecognizable to the human eye and understand the rationale for the detection.
  • Direct-to-source AML intelligence means you get the most accurate, up-to-date information without the added markups other providers may charge because they resell data from another provider.

Here’s a summary of what SEON offers:

  • AML screening for PEPs, sanctions, crime lists, watchlists and adverse media in real time 
  • AML transaction monitoring in real-time to catch incoming and outgoing payments and monitor specific users for a one-time annual fee
  • Online platform combining AML screening and transaction monitoring, digital footprint analysis and device intelligence data all in one place to combat money laundering and fraud
  • Customer support providing guidance to help you set up your AML tool, tailored to your business and has a responsive customer success team to assist with any questions that you may have

With its comprehensive and customizable risk and fraud platform, SEON empowers risk and fraud teams to turn AML checks into their new competitive edge. 


Read SEON. Fraud Fighters reviews on G2

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Acuris Risk Intelligence

Acuris Risk Intelligence is an AML platform that brings together intelligence for anti-money laundering, anti-corruption and cybersecurity.  Their online portal KYC6 provides compliance teams with the ability to manually search for individuals, through a batch update or API calls.

Despite their AML offerings, the platform does not have a proper graphical user interface, which might hinder the user experience for risk and compliance teams. And while it’s known for cost-effective access to AML screening data, some users experience more false positives than they’d like to see. 

Here’s a summary of what Acuris Risk Intelligence offers:

  • AML screening data such as PEPs, sanctions, adverse media, law enforcement, corporate registry and global ID&V checks data
  • AML transaction monitoring is not a part of the offering, so it makes Acuris more of a lightweight solution
  • Online platform for manual checks, batch update checks or API calls
  • Customer support for their AML offering is not mentioned on their website


ComplyAdvantage offers a suite of information for AML and risk management teams. The core of ComplyAdvantage is to make compliance less painful. The company was born out of the frustration of integrating legacy AML software, so it makes sense that they have built a RESTful API integration. We should note that one of the company’s founders, Charles Delingpole, joined SEON’s Series A round.

While users like the platform because it’s easy to integrate and search for previous entries, there are mixed reviews about whether ComplyAdvantage can help risk and compliance teams reduce false positives and if transaction monitoring is suitable for their needs. Even though the platform has an easy user interface, some users find that the customization could be more flexible to suit their operational needs. 

Here’s a summary of what ComplyAdvantage offers:

  • AML screening data such as PEPs, sanctions, watchlists, adverse media, warning lists and internal data
  • AML transaction monitoring is easy to use and it’s easy to build rules
  • Online platform helping teams combat AML screening, transaction monitoring and fraud prevention
  • Customer support providing timely assistance from dedicated customer success managers

See what their customers have to say


Dow Jones Risk & Compliance

Dow Jones is a legacy AML software provider offering comprehensive sanctions data coverage. They have a consulting arm that helps risk and compliance teams manage their AML programs to ensure compliance with regulations. You can also screen for incoming and outgoing payments and transactions in real time. 

Despite Dow Jones Risk & Compliance’s offerings, it has some drawbacks. One of them is the integration requirements are through a third-party vendor which can lead to higher costs, making it better suited for larger organizations. While Dow Jones offers comprehensive AML data, some users have also noted that the platform yields more false positives than they had hoped and requires extensive resources to ensure optimal utilization.

Here’s a summary of what Dow Jones Risk & Compliance offers:

  • AML screening data including PEPs, global sanctions lists, sanctioned vessels, sanctioned entity data, cities and ports, adverse media and other special lists
  • AML transaction monitoring updated 6x per day   
  • Online platform available for sanctions; however, it’s unclear whether AML transaction monitoring is part of the same platform 
  • Customer support providing timely assistance from dedicated customer success managers


GBG is another established provider of AML data specializing in digital identity. They have been established for over three decades and first started out providing address management services to provide an alternative to postcode and address information.  

While GBG is known for its data, it leverages data providers for proprietary information and does not openly disclose the data providers they work with. This could make access to information such as its AML screening data more costly and at risk for timely updates. 

  • AML screening data such as PEPs and sanctions lists for identity documents
  • AML transaction monitoring in real-time through its tool GBG Predator
  • Online platform available; however, it is unclear whether access to other solutions, such as GBG Predator, is available on the same platform
  • Customer support provided for 11 specific dedicated countries, including the UK, China and Australia

See what their customers have to say


LSEG Risk Intelligence World-Check

LSEG World-Check, formerly known as Refinitiv World-Check, provides AML data, a database and a data file to help risk and compliance teams adhere to regulations. As a legacy provider of AML solutions, their team is spread across the globe, serving a wide swath of markets.  

Despite their extensive data coverage, LSEG Risk Intelligence World-Check might not be the best fit for all organizations. Access to data screening requires an add-on with World-Check One, and if you need customer or payments screening, you’d need to add on Data File, a third-party workflow solution. This can be costly for smaller organizations who may not have the necessary resources to get full use of their offering. While users report global risk data is timely and up-to-date, some users report that name matches are off and result in too many false positives.   

Here’s a summary of what SEG World-Check’s AML offers:

  • AML screening data coverage including PEPs, RCAs, sanctions, Iran economic interest, ultimate beneficial owner, sanctioned securities, vessel information, state-owned entities and state-invested enterprises, and sanctioned securities.
  • AML transaction monitoring not offered through the basic World-Check solution, limiting this provider’s offering to screening.
  • Online platform not offered through World-Check; however, you get access to it if you purchase the add-on World-Check One. 
  • Customer support is offered 24/7, and support agents are well-versed in multiple languages.

Comparison Table for AML Software Features

Dow JonesGBGLSEG Risk Intelligence
Sanctions, PEPs, Crime and Watchlists ScreeningYesYesYesYesYesYes
Adverse MediaYesYesYesYesYesYes
Transaction MonitoringYesNoYesYesYesYes
Fraud & AML Data in One PlatformYesNoYesNoYesNo
Direct-to-Source IntelligenceYesNoYesYesNoYes
Customizable Rules for Tailored ComplianceYesNoYesNoNoNo

What AML Checks Should You Perform?

AML compliance requires diligent monitoring through several key checks, each crucial for identifying potential risks and ensuring regulatory adherence:

  • Politically Exposed Persons (PEP) checks identify individuals who have held or currently hold significant public roles, such as politicians, ambassadors or diplomats. The essence of PEP monitoring lies in its ability to safeguard organizations from inadvertently facilitating corrupt activities. The definition of a PEP may change from country to country.
  • Sanction lists screen for entities and individuals listed on international, government and regulator sanctions lists (sometimes known as watchlist checks), which help prevent the financial system from being used as a conduit for activities that could lead to regulatory repercussions.
  • Adverse media searches for negative news coverage and provides an early warning system for potential risks that have yet to be reflected in sanctions lists.  
  • Special Interest Person (SIP) or Special Interest Entity (SIE) checks individuals or entities for current or historical financial crimes, usually logged on government blacklists. 
  • Relatives and close associates (RCA) investigate those closely linked to PEPs to enable a thorough risk assessment, as the social networks surrounding PEPs can also be channels for money laundering. 
  • Transaction monitoring looks for signs of money laundering or terrorism financing by detecting high-value, illicit financial flows. 

How to Find the Best AML Software

When exploring the best AML software for your organization, navigating the myriad options with a clear strategy is essential. The right software can significantly enhance your compliance efforts, mitigate risks, and streamline operations. Here’s how to find the best AML software tailored to your needs:

Understand Your Specific Requirements

Assess your organization’s specific risk exposure based on the nature of your business, customer base and geographical operations. Identify the regulatory requirements applicable to your sector and jurisdiction and consider how well the software can integrate with your existing systems for seamless operation.

Check for Reliability and Support

Research the vendor’s track record in the industry. Focus on reliability, customer service and updates to keep pace with evolving regulations.

Consider Cost and ROI

Understand the pricing model and ensure it aligns with your budget and usage expectations while evaluating how the software can save time, reduce compliance costs and prevent potential fines by enhancing your AML processes.

Request Demos and Trials

Request a comprehensive demo to see the software in action, focusing on ease of use and how it meets your specific needs. If available, take advantage of free trials to test it out in your environment for valuable insights into its suitability.

Gather Feedback and Reviews

Consult with industry peers to gather insights on their experiences with AML software and look for unbiased reviews and comparisons online to get a broader perspective on its performance and reliability.

Finding the best AML software involves a careful assessment of your needs, thorough research into available options and an evaluation of the features and benefits. By following these steps, you can select an AML solution that complies with regulatory requirements and aligns with your operational needs and strategic goals.

Ready to Turn AML Checks into Your New Competitive Edge?

Discover how SEON can transform your risk management strategy by unifying your PEPs and sanctions data with anti-fraud prevention to uncover deeper insights about your customers.

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Frequently Asked Questions

What features to look for in AML software

Your AML software should be able to verify documents, monitor transactions, and check user data against specific watchlists. You should also be able to include a whitelist to allow specific users.

How does AML software work?

AML software automatically checks user data against specific watchlists. That includes people who live in sanctioned countries, politically exposed persons, and people with poor online reputations (adverse media). The software also needs to check for transactions, especially high-volume ones, so that you can flag and review them manually.

How much does AML software cost?

AML software companies have different pricing based on the number of checks you need to perform. You should also consider whether the integration is included in the price.

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