FAQs

What training and support do you offer?

Every new client receives our comprehensive training package, which includes a personalized onboarding session tailored to you and your team, led by our dedicated onboarding specialists. Beyond that, we provide access to an extensive online knowledge portal, featuring step-by-step videos, detailed articles, and guided walkthroughs to help you make the most of our platform. If you need additional assistance, our support team is readily available via phone or through our ticketing system for prompt, expert help.

How long does it take to get setup?

The setup process is quick and straightforward. Once you’ve chosen your desired package and accepted our terms and conditions, our team will start configuring your account. Typically, this process is completed within 24 to 48 hours. During this time, we ensure everything is tailored to your needs so you can begin using the platform seamlessly. If you have specific requirements or need assistance during the setup, our support team is available to guide you every step of the way.

How do I sign-up to a free trial online?

We don’t offer a free trial online due to the sensitive nature of the data we process. However, you’re welcome to contact us for a full demonstration of the platform. During the demo, we can guide you through the process and even let you perform a check yourself.

Are there any setup fees?

No, we don’t charge any setup or upfront fees. Our pricing is simple and transparent: a monthly subscription covers access to the platform and data storage. Additionally, you’ll pay for the checks you perform, which are billed on a credit basis.

What platforms do you integrate with?

Our customers have integrated our technology with a wide range of platforms from legal case management systems to more common CRM’s like Zoho. You can find our full API documentation online https://credas.com/id-verification-api-integration/

How do I verify my ID

If you have been asked by one of our customers to verify your identity then you will need to download the Credas app and input the registration code sent to you. Alternatively you can complete the process using our online portal.

Why are AML checks essential to protect against financial crime?

Since the majority of criminals and terrorists rely heavily on a cash flow of laundered money for their illegal activities, having the appropriate AML checks in place has broader crime-reducing implications.

Most countries have their own set of AML regulations guided by the FATF Recommendations. The UK is guided by the 2017 Money Laundering Regulations and subsequent amendments. Businesses regulated by money laundering laws must perform AML checks as part of customer due diligence. This step is crucial in identifying and mitigating the risk of money laundering.

Key tools in this process include:

• Identity Verification: Confirming your customer is who they say they are
• Customer Screening: Verifying your customer doesn’t appear on global watchlists or is high-risk, such as a PEP.
• Financial due diligence: Confirming the source of funds are from legitimate and explainable sources
• Risk assessments: Determining the level of risk the customer and what measures to take to mitigate the risk of money laundering

Establishing robust internal controls and monitoring systems is essential for guiding and informing the nature of AML checks. Moreover, businesses should document their AML procedures in a policy statement and maintain meticulous records for at least five years to demonstrate their compliance.

What businesses need to run AML checks?

Any business that falls under the 2017 Money Laundering Regulations is required to conduct customer due diligence and identify whether they are working with potentially high-risk customers, such as PEPs or their relatives and closely associated persons (RCAs). The industries covered under the Money Laundering Regulations include the financial sector, real estate and property, lettings, legal services, accountancy, gambling, high-value dealers (commonly art galleries and auctions but extending to any business that accepts a single or multiple cash payments totalling more than 10,000 euros), money transfer businesses (MABs) and banking.

In addition to Money Laundering Regulations, all business regardless of sector, are expected to the compile with the UK sanctions regime. Businesses that have been fined by the Office of Financial Sanctions Implementation for lack of compliance include a hospitality business, an energy firm and telecommunications company.

What are AML checks?

AML checks refer to a range of procedures that help businesses identify and prevent potential money launderers and bad actors from using their services. These checks involve conducting due diligence on customers, which can include verifying their identity, screening them against watchlists, and performing financial due diligence.

While the Money Laundering Regulations do not provide a standard definition of what constitutes an AML check, industry best practices typically involve verifying a customer’s ID, confirming their address, ensuring they are not impersonating a recently deceased person, and conducting PEPs and Sanctions checks. Once these steps are completed, a business can assess the customer’s risk profile and determine if any additional due diligence is required.