AML Solution & Checks

SEON enhances KYC data that we already have and helps us have a better knowledge of our customers. It gives us a head start for our AML or fraud investigations.

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Stay on the right side of AML compliance

Block financial criminals and sanctioned individuals, identify suspicious behavior, automate compliance, all while giving genuine customers quick and easy access.

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Improve Compliance with AML ScreeningImprove Compliance with AML Screening

Improve Compliance with AML Screening

Augment automated transaction monitoring with SEON's AML screening tool to maintain compliance. Monitor PEP & RCA, sanctions, crime, and watch lists to block sanctioned and high-risk customers. Create rules based on AML screening results to make SEON your central anti-fincrime solution.

Pre-Screen Customers with Social Media ProfilingPre-Screen Customers with Social Media ProfilingPre-Screen Customers with Social Media Profiling

Pre-Screen Customers with Social Media Profiling

Emails and phone numbers leave a trail of digital breadcrumbs as people use them around the web. Run checks across 90+ social and digital platforms to verify if customers are who they claim to be – spot inconsistencies and automatically flag suspicious customers for further investigation.

Block Suspicious ConnectionsBlock Suspicious ConnectionsBlock Suspicious Connections

Block Suspicious Connections

Unleash SEON's powerful device fingerprinting and IP analysis tools to put fraudsters on the back foot. Decline purchases made using suspicious devices or connections, including browsers, tools, and addons commonly used in fraudulent attempts. Block transactions with mismatching info, such as IP geolocation different from billing and mailing addresses.

AML Solution
and Checks

Anti-money laundering, or AML, is a challenge for online businesses. On the one hand, they want to remain compliant to avoid fines from regulatory bodies. On the other, deploying verification checks is expensive, time-consuming, and high-friction – especially if they don’t have the resources of a large financial institution.

This is precisely why SEON’s AML solution helps. Simply enter a name into our AML module and SEON will automatically find matches in relevant lists. That includes PEPs (Politically Exposed Persons), RCA (Relatives and Close Associates), crime lists, sanction lists, and more.

SEON’s AML lists cover the entire globe, and new lists are added and updated all the time, allowing you to enable continuous monitoring. If the status of your customers or business associates changes, you will be alerted as soon as possible, allowing you to take the necessary next steps, such as filing a SAR (Suspicious Activity Report).

By combining AML, and fraud prevention in one single tool, you reduce data silos, boost compliance, and reduce the costs associated with all three risk management strategies.

FAQ

What kind of AML checks does SEON offer?

SEON’s AML API lets you check for names in a variety of data sources, including PEP and RCA lists, sanction lists, crime lists, and watch lists from financial authorities around the world. New databases are constantly added and regularly updated to let you stay on top of the latest global AML requirements.

Can you enable continuous AML monitoring?

Yes. SEON lets you select individuals you’d like to keep an eye on in the context of anti-money laundering. If their status changes, SEON will let you know as soon as it re-runs the checks, usually on a monthly basis.

Is SEON’s AML API suitable for my region?

SEON checks from a global list of databases, including the FCA in the UK, the US Securities and Exchange Commission, BaFin in Germany, the Monetary Authority of Singapore, and many more. Check our detailed list of sources to see if your specific jurisdiction is covered. If it’s not, we can add the required lists for you.
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"With SEON, I can see that the address has been around since 2012 because it appeared in data breaches. I can see it’s been registered on these 15 other social websites. From then I can just manually match the relevant information to make my case. Working with more accurate data allows me and my team to move faster – and with minimum user friction. Whereas the team had to wait hours or days to verify someone’s payment, SEON allows them to do it in 30 mins or less."
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Rick Hiltbrunner
Senior Manager of Fraud Operations
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"As soon as our staff used SEON on a regular basis, they could see its value. It immediately started saving them time as they didn’t have to trawl through the usual checkpoints. So much so, that the time spent by Air France analysts on manual reviews is down by an impressive 70%. Instead, all the information they needed was on one screen with a simple scoring system enabling them to see if a transaction was real or not."
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Eric Facquet
Deputy Manager of Fraud Prevention
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"The most useful thing for us was to be able to see if the email and phone numbers weren’t registered anywhere. We also rely on the device fingerprinting metadata in our scorecard to filter out junk users. We immediately saved about 6% of costs on our automated KYC checks. After only 2 months, we started seeing impressive results. Up to 3 times fewer cases of defaulting customers in new regions such as Romania and Europe. 4 months later, the fraud rates dropped by over 65%."
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Sergey Bogdanov
Chief Risk Officer
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"We were looking at another provider, but they came back to us with a 4-6 months integration window. With SEON, it was literally a phone call, sandbox tests on Monday and by the end of the week, it was done. One other thing I’d like to comment on is the pricing model. It’s really 2022, like for scaling together. The SEON model, it’s now one we actively look for with our other partners. Clearly an organization that approaches work and its customers in a different way."
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Coert Snyman
Senior Analyst
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"I tested some extra rules, and over a few months I managed to push SEON’s auto approval from an initial accuracy of 95% unto 99.5%. Taking the time to update your SEON rules is an investment that gives great results. And the best thing is that we can do so without deploying any software. From an engineering perspective, it is extremely time and resource saving, allowing us to react much faster."
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Phillipp Keller
Senior Product Manager
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"I couldn’t believe how fast the results came,” says Gergely. “Our chargeback rates dropped by 91% in one month only.” Moreover, the number of manual queries and fraud catch rates continued to improve after the initial 30 days as the system adjusted itself – part of the benefits of deploying a machine-learning algorithm to fine-tune accuracy."
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Gergely Kálmán
CEO
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"SEON allows us to stay one step ahead as by keeping advantage players at bay we are able to continue offering competitive bonuses with low wagering requirements to our players,” Daniel says. “And the fact that SEON team are so open to feedback and implement the feedback quickly gives us as their client a significant advantage which we couldn’t find with other competitors in their field."
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Daniel Saliba
Head of Compliance
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"It wasn’t just the technology that’s great though, the education side of things helped us understand the types of tactics and patterns used by fraudsters and put rules into place to prevent them."
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Stacey Pickering
Head of Operations
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"We deployed SEON both on our website and web app to gather device data as well as IP and email information. It was unbelievably fast, both in terms of integration and results. In 4 days only, our fraud rates were pretty much down to 0."
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Lewis Bye
Senior Projects and Operations Specialist
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"We overlay SEON’s digital and social lookup with device fingerprinting to get a good indication of whether the phone or tablet belongs to the actual client. We can instantly filter out obvious fraudsters with no digital or social presence, and we get better intelligence to automate our decision making."
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Juris Rieksts-Riekstinš
Head of Risk

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