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Wolters Kluwer launches cloud AML module for CCH iFirm in UK

By Gloria Methri

March 12, 2024

  • AML
  • Anti-Money Laundering (AML)
  • CCH iFirm
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Wolters Kluwer, CCH iFirm, Wolters Kluwer Tax & Accounting, AML, KYC, FinTech, UKWolters Kluwer Tax & Accounting (TAA) UK has released an anti-money laundering module (AML) within CCH iFirm, its cloud-based practice management and compliance software platform.

The AML module seamlessly integrates with CCH Central and Wolters Kluwer TAA’s on-premises system, reducing the need to rekey data into a separate system and helping to speed up the AML compliance process and client onboarding.

“We realize that compliance with AML and know-your-customer [KYC] requirements is vital for accounting firms, especially considering continually shifting regulations. CCH iFirm AML helps to transform the way companies manage their AML duties, helping them mitigate the risks associated with poor AML and KYC practices,” said Natasha Chryssafi, Director of Product Management, Wolters Kluwer TAA U.K.

As a cloud-based solution, CCH iFirm AML provides accounting practices with the flexibility to manage AML compliance from anywhere at any time. In addition, it will offer biometric KYC – using facial recognition to identify and authenticate individuals.

This will remove the need to scan and email documents and check photos, helping to ensure secure and efficient identity verification, alongside a standard AML check.

Given the importance of having the highest quality data for checking purposes, CCH iFirm AML has access to leading credit bureaus and governmental data sets. The accuracy, completeness, timeliness, consistency, and relevance of data are fundamental to detecting, preventing, and reporting potential money laundering activities effectively.

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