Experian, the global information services company, announced its 192business unit has been selected by the Law Society as its preferred supplier of electronic identity verification tools for anti-money laundering purposes.
192business, part of Experian since it was acquired in March 2012, provides organisations with a range of electronic identity verification
tools, including personal data verification, fraud screening and
document verification. These products are already used by 44 of the top
100 UK law firms to meet client due diligence obligations under the
Money Laundering Regulations 2007 and to mitigate the risks of making
payments in contravention of the UK financial sanctions regime.
Nigel Spencer, Chief of Commercial Affairs at the Law Society, said:
"Experian and 192business have worked closely with the Law Society to
ensure that its identity verification services are tailored to the
specific needs of the legal sector. Accurate and efficient identity
verification is vital for meeting the evolving challenges of complying
with financial crime prevention rules."
Nick Mothershaw, UK director of identity & fraud services at
Experian, commented: "Firms across the legal profession have
successfully managed money laundering and payment risks working in
partnership with 192business. Since 192business became part of Experian
earlier this year we have further strengthened our position amongst the
legal community and are delighted that the Law Society has chosen to
endorse our range of identity verification tools."
Experian is a top global information services company, providing
data and analytical tools to clients in more than 80 countries. The
company provides banking software,
helps businesses to manage credit risk, prevent fraud through its fraud
management system, target marketing offers and automate decision
making. Experian also helps individuals to check their credit report and
credit score, and protect against identity theft.