AML International Database(AMLID)

🔹 Definition

An Anti-Money Laundering International Database (AMLID) is a centralized or aggregated data source containing global records relevant to money laundering risk. It typically includes information such as international sanctions lists, politically exposed persons (PEPs), criminal records, adverse media reports, enforcement actions, and regulatory blacklists from multiple jurisdictions.

These databases are essential components in automated AML screening and customer due diligence processes. They allow organizations to perform cross-border checks on individuals and entities during onboarding and ongoing monitoring, helping to identify potential financial crime risks with global implications.

🔹 Frequently Asked Questions (FAQs)

Q1: What sources are included in an AML International Database?
Common sources include:

• Sanctions lists (e.g., OFAC, UN, EU, UK HMT, MAS)
• PEP lists and family/close associate connections
• Law enforcement notices (e.g., Interpol Red Notices)
• Regulatory enforcement actions (e.g., SEC, FCA, FINRA)
• Adverse media from reputable global news outlets
• Watchlists from international organizations (e.g., World Bank, IMF)

Q2: How is this database used in AML compliance?
Compliance teams and AML software solutions use international databases to:

• Screen clients during onboarding (KYC)
• Perform enhanced due diligence (EDD) on high-risk clients
• Monitor existing clients for changes in status
• Generate audit trails and evidence for regulatory reporting

Q3: Are AML international databases updated regularly?
Yes. Reputable providers update their databases daily or weekly to reflect the latest sanctions, political appointments, criminal convictions, and media coverage. Ongoing updates ensure accurate and timely detection of risk.

Q4: Is access to such a database required by law?
While not always explicitly mandated, using reliable international data sources is considered a best practice—and often expected by regulators—as part of a robust AML program, especially for companies with cross-border exposure or high-risk clients.