CDDS Luxembourg SA is pleased to present its AML risk APIs: the first integrated screening tool against sanctions lists, PEP and AML risk lists for payment, virtual money, gaming companies or software publishers.
As a leader in the Luxembourg market and an increasingly important player worldwide, CDDS is modernizing its AML / KYC catalogue by offering APIs that can integrate with payment, virtual money, gaming or other payment platforms containing customer data.
As the anti-money laundering and counter-terrorism directives intensify, new companies are facing the pressure from regulators. Whether payment companies, virtual currency, Forex, gaming platforms, all are subject to AML laws and must fulfill their due diligence obligations.
Anxious to propose a solution adapted to each sector of activity, CDDS today, goes hand in hand with these companies thanks to the implementation of APIs allowing:
- • An unlimited automatic NameCheck against official sanctions and continuously updated PEP lists
- • An identification of the risk of each client
- • An identification of the risk linked to the means of payment used
- • A country risk identification
- • An import of negative news
This solution, already adopted by many payment companies, allows to check hundreds of thousands of monthly transactions thanks to its unlimited capacity.
"FinTech and RegTech, words that characterize the changing world of finance. This world is changing drastically, and the financial flows that in the past have quietly followed the operational processes of banks have become very quick, to some extent, instantaneous. They move to new players who are more and more replacing traditional banks for many of the operations, and new projects are born every day on a global scale. It is now possible to open an account with a Forex broker in an exotic country and feed it with your credit card in a few seconds and with a minimum of formalities. Being able to check a new client against sanctions or PEP lists and identify a risk related to the credit card he uses, and that, instantaneously, has become essential for the sustainability and reputation of these players. We are therefore proud to be able to accompany our customers in the FinTech world to comply with their growing obligations and we are committed to proposing evolutionary solutions to the changing needs of these businesses and those that will emerge in the years to come." says Philippe Lassine, CEO of CDDS Luxembourg SA.
Therefore, CDDS, whose offer combines data, technology and experience in Compliance, is expected to strengthen its position in the international market.