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AML (Anti-Money Laundering) is a system designed to detect and prevent money laundering. As part of this system, an individual’s data, obtained through the KYC (Know Your Customer) verification process, is cross-checked against lists of individuals associated with illegal activities such as money laundering, corruption, or terrorism financing.

Thus, KYC is a broader process that includes client identification, data collection, and analysis, while AML is a component of KYC that focuses specifically on assessing the client for potential involvement in financial crimes.

How AML is Connected to Digital Identification

AML helps create the most comprehensive profile of a user or client by evaluating all potential risks associated with interacting with them. In a world where most financial transactions have moved online, AML has become a critical tool for digital identification.

By using AML systems, organizations can not only verify a client’s identity but also check them against global and local "blacklists," sanction databases, and lists of suspicious individuals. This helps protect businesses from being involved in illegal schemes and increases customer trust.

The Role of Biometrics in KYC and AML

Modern AML processes are impossible without reliable remote identification technologies. Biometrics enhance the KYC system and, as part of it, help implement AML in practice. With Biometric.Vision solutions, banks, fintech companies, and other organizations gain access to:

• Facial recognition with Liveness Detection — protection against fake photos, videos, and deepfakes;
• Automated document authenticity verification;
• Matching a client’s face with the photo in their document with up to 99% accuracy;
• Reducing the risk of registering fake or fraudulent accounts.

Use Cases for AML and e-KYC

AML is used in virtually all industries where money or assets are involved to prevent illegal activities. These include:

• Banking — verifying clients when opening accounts and during online services;
• Fintech and microfinance organizations (MFOs) — screening borrowers before issuing loans;
• Insurance companies — combating fraudulent claims;
• Cryptocurrency exchanges — ensuring compliance with international FATF standards;
• Telecom companies — preventing the registration of SIM cards with fake documents;
• Online gaming and betting — stopping money laundering through gaming accounts.

Biometric.Vision implements comprehensive digital identification solutions that integrate KYC and AML. Our technologies help businesses comply with regulatory requirements, reduce risks, and protect clients from fraudulent activities.