The firm uses machine learning to help regulated organizations manage risk obligations and prevent financial crime.

ComplyAdvantage, a global data technology company transforming financial crime risk detection, has unveiled a training program designed to help compliance teams navigate potential threats when taking clients on board.

The interactive, certified training series takes compliance professionals step-by-step through customer onboarding best practices. The challenges explored include:

How to determine what level of due diligence is appropriate for different customers; the importance of understanding ultimate beneficial ownership structures; how to report potentially suspicious behavior; and what training is required to equip new onboarding team members properly.

"Customer onboarding is any organization's first line of defense when tackling money laundering and financial crime. Having trained government departments and armed forces around the world on anti-money laundering and counter-terrorism financing best practices, I've seen first-hand how important this issue is,” Dr Martin Navias, senior visiting research fellow, Centre for Defence Studies at King's College London, said. The series was produced with Dr Navias.

As ComplyAdvantage noted, financial institutions must legally vet new clients for money laundering, 

ComplyAdvantage uses machine learning to help regulated organizations manage risk obligations and prevent financial crime. Its anti-money laundering insights include its State of Financial Crime 2022 Report, The Evolving Use of Sanctions, and most recently, the Anti-Money Laundering Guide for Growing Crypto Firms.

The firm has four global hubs in New York, London, Singapore, and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital.