# Best Anti-Money Laundering Software - Page 5

## How Many Anti-Money Laundering Software Products Does G2 Track?

**Total Products under this Category:** 282

### Category Stats (Jul 2026)

- **Average Rating:** 4.47/5 The average rating of products in this category, based on all submitted ratings
- **Top Trending Product:** Business Radar (+1.95%) - Among all products in this category, Business Radar recorded the largest rating increase compared to last month

_Last updated: July 31, 2026_

## How Does G2 Rank Anti-Money Laundering Software Products?

**Why You Can Trust G2's Software Rankings:**

- 30 Analysts and Data Experts
- 3,600+ Authentic Reviews
- 282+ Products
- Unbiased Rankings

G2's software rankings are built on verified user reviews, rigorous moderation, and a consistent research methodology maintained by a team of analysts and data experts. Each product is measured using the same transparent criteria, with no paid placement or vendor influence. While reviews reflect real user experiences, which can be subjective, they offer valuable insight into how software performs in the hands of professionals. Together, these inputs power the G2 Score, a standardized way to compare tools within every category.

## G2 Grid® for Anti-Money Laundering Software
 ![G2 Grid® for Anti-Money Laundering Software plotting products by satisfaction and market presence](https://www.g2.com/categories/anti-money-laundering/grids.png?focus%5B%5D=115334&focus%5B%5D=61074&focus%5B%5D=91079&focus%5B%5D=106667&focus%5B%5D=156825&focus%5B%5D=59466&focus%5B%5D=101706&focus%5B%5D=1191159)

Highlighted products: iDenfy, Shufti, ComplyAdvantage, Abrigo Anti-money Laundering, Ondato, Dow Jones Risk & Compliance, Sumsub, and ComplyCube.

Underlying data: [Grid® JSON](https://www.g2.com/categories/anti-money-laundering/grids.json?focus%5B%5D=idenfy&focus%5B%5D=shufti&focus%5B%5D=complyadvantage&focus%5B%5D=abrigo-anti-money-laundering&focus%5B%5D=ondato&focus%5B%5D=dow-jones-risk-compliance&focus%5B%5D=sumsub&focus%5B%5D=complycube)

**Sponsored**

### AU10TIX

AU10TIX is a leading global provider of automated identity verification solutions, offering a full-service portfolio with one API endpoint. Originating in airport security and border control, AU10TIX's home-grown technology leverages artificial intelligence and machine learning algorithms to deliver deep fraud detection. Our mature neural networks and advanced detection techniques handle sophisticated threats like deepfake and synthetic identity fraud. Our fully automated verification increases both accuracy and fosters a frictionless user experience to yield the highest pass rates and effectively manage high transaction volumes. Designed for scalability, our automation technology optimizes verification workflows, manages high transaction volumes, and provides actionable insights to enhance decision-making capabilities, meeting diverse customer needs and facilitating seamless business expansion.

[Visit website](https://www.g2.com/external_clickthroughs/record?secure%5Bad_program%5D=ppc&secure%5Bad_slot%5D=category_product_list_llm&secure%5Bcategory_id%5D=1437&secure%5Bchosen_at%5D=2026-08-01T03%3A49%3A25Z&secure%5Bdisplayable_resource_id%5D=2118&secure%5Bdisplayable_resource_type%5D=Category&secure%5Bmedium%5D=sponsored&secure%5Bplacement_reason%5D=neighbor_category&secure%5Bplacement_resource_ids%5D%5B%5D=1977&secure%5Bplacement_resource_ids%5D%5B%5D=2118&secure%5Bplacement_resource_ids%5D%5B%5D=2349&secure%5Bprioritized%5D=false&secure%5Bproduct_id%5D=75660&secure%5Bresource_id%5D=1437&secure%5Bresource_type%5D=Category&secure%5Bsource_type%5D=category_page&secure%5Bsource_url%5D=https%3A%2F%2Fwww.g2.com%2Fcategories%2Fanti-money-laundering%3Fpage%3D5&secure%5Btoken%5D=426bb85016e3293ae2a1214066cb508ba24214ecbb90ee2895be0bd0b5a55902&secure%5Burl%5D=https%3A%2F%2Fwww.au10tix.com%2Flanding%2Fidv-1%2F&secure%5Burl_type%5D=custom_url)

### [Encompass](https://www.g2.com/products/encompass/reviews)

Know Your Customer (KYC) regulation is evolving and so are the costs and impact on the global financial industry. Encompass' intelligent process automation platform for KYC dramatically improves the client experience, significantly speeding up KYC processes. Encompass automates gathering, processing and collation of primary and premium information and news discovery for KYC purposes - be that for new customer onboarding, event-driven refresh, or remediation. Using customers’ existing internal KYC policies and processes, Encompass constructs corporate ownership structures, discovers beneficial owners, and comprehensively screens entities and persons for risk - be that across structured watchlist data sets or unstructured adverse media sources. Advanced intelligent process automation builds a comprehensive KYC profile from multiple sources, facilitating fast, confident decisions. Encompass delivers a single platform to manage clients from large corporations through to small and medium sized enterprises and individuals.

**Average Rating:** 4.3/5.0

**Total Reviews:** 5

#### How Do G2 Users Rate Encompass?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 8.8/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 9.6/10 (Category avg: 8.9/10)
- **Watch List:** 9.3/10 (Category avg: 8.8/10)

#### Who Is the Company Behind Encompass?

- **Seller:** [Encompass](https://www.g2.com/sellers/encompass)
- **Year Founded:** 2011
- **HQ Location:** London, England, United Kingdom
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=8ff4cb04ca784833a68eff43cea631baa33aa00f80180ab147dab28effc2cee9&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F1122633%2F&secure%5Burl_type%5D=linkedin_company_website)  
161 employees on LinkedIn®

#### Who Uses This Product?

- **Top Industries:** Financial Services
- **Company Size:** 60% Medium, 20% Large

#### What Do G2 Reviewers Say About Encompass?

_AI-generated summary from verified user reviews_

##### Pros

- Users value the **enhanced communication** offered by Encompass, which streamlines collaboration and improves overall efficiency.
- Users highlight the **superior compliance features** of Encompass, enhancing tracking and visibility in loan management.
- Users value the **enhanced efficiency** of Encompass, enabling streamlined tracking and improved communication in managing loans.
- Users value the **efficient tracking and compliance features** of Encompass, enhancing collaboration and organization in loan management.

##### Cons

- Users find Encompass to have **overwhelming complexity** initially, making navigation and load times challenging for new users.
- Users find Encompass to have **poor usability** , particularly due to its overwhelming navigation and slow load times.
- Users report **slow performance** issues with Encompass, which can hinder productivity and efficiency, especially for newcomers.

#### What Are Recent G2 Reviews of Encompass?

**["Encompass Simplifies Construction Loan Processes"](https://www.g2.com/survey_responses/encompass-review-11644045)**

**Rating:** 5.0/5.0 stars

_— Morgan A._

[Read full review](https://www.g2.com/survey_responses/encompass-review-11644045)

**["Improved customer satisfaction"](https://www.g2.com/survey_responses/encompass-review-9936027)**

**Rating:** 4.0/5.0 stars

_— Hasnah B._

[Read full review](https://www.g2.com/survey_responses/encompass-review-9936027)

#### What Are G2 Users Discussing About Encompass?

- [What is Encompass used for?](https://www.g2.com/discussions/what-is-encompass-used-for)

### [Strise](https://www.g2.com/products/strise/reviews)

Strise is an AI-native AML and KYB automation platform built on a simple truth: workflows are only as strong as the data beneath them. Strise pioneered living customer profiles, trusted and continuously enriched entity records that unify registry data, UBO disclosures, IDV forms, internal systems, and analyst notes into a single, explainable source of truth. Trusted data foundation: Strise unifies fragmented data from registries, watchlists and third-party vendors using entity resolution. Records are linked, deduplicated and connected into one customer profile. On this foundation, gaps are enriched with IDV data, incorporation certificates, shareholder lists, utility bills and analyst input. Every field is cross-checked and continuously updated, so institutions do not just collect data, they build profiles they can trust. UBO and ownership identification: Strise unmasks full ownership structures, identifies UBOs even in opaque jurisdictions, and fills gaps through client forms and AI-driven enrichment. Onboarding and due diligence: Strise's risk policy engine embeds sanctions, PEP and adverse media checks directly into the profile, tuned to an institution’s risk appetite. Risk scoring is consistent, explainable and audit-ready. Low-risk cases are cleared instantly while high-risk ones are flagged for due diligence, accelerating onboarding and monitoring. KYC/B verification: Integrated KYC and IDV for private individuals, representatives and shareholders unify business and personal verification in one streamlined flow. Audit and record-keeping: Every action, from clearing a false positive to analyst commentary, is logged in a tamper-proof activity trail. Case outcomes are instantly exportable, keeping teams audit-ready without manual record-keeping. Differentiator: Where most vendors focus on workflows, Strise solves the deeper problem of fragmented data. By starting with trusted, enriched profiles, Strise powers every workflow, rule engine and AI agent with clarity. The result is faster onboarding, earlier risk detection, fewer false positives and compliance that scales without adding headcount. Already trusted by 70% of Nordic tier-1 banks and global institutions, including PwC, Corpay, Vipps MobilePay and Nordea, Strise is setting the standard for KYB and AML automation in the AI era.

**Average Rating:** 4.6/5.0

**Total Reviews:** 6

#### How Do G2 Users Rate Strise?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 8.3/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 10.0/10 (Category avg: 8.8/10)

#### Who Is the Company Behind Strise?

- **Seller:** [Strise](https://www.g2.com/sellers/strise)
- **Year Founded:** 2019
- **HQ Location:** Oslo, NO
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=4688addb34eb24f4deab06510c3b055cab16c4308dc0fa2e46b91e36670e7e57&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fstrise%2F&secure%5Burl_type%5D=linkedin_company_website)  
43 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 50% Small, 33% Large

#### What Are Recent G2 Reviews of Strise?

**["Strise is a time saving and helpful tool to get a total overview of our business customers"](https://www.g2.com/survey_responses/strise-review-7802506)**

**Rating:** 4.5/5.0 stars

_— Marie V._

[Read full review](https://www.g2.com/survey_responses/strise-review-7802506)

**["Disorganized Data Hunts"](https://www.g2.com/survey_responses/strise-review-9700114)**

**Rating:** 4.5/5.0 stars

_— Zico B._

[Read full review](https://www.g2.com/survey_responses/strise-review-9700114)

### [AMLBot](https://www.g2.com/products/amlbot/reviews)

AMLBot is an all-in-one compliance toolkit for crypto businesses — from early-stage VASPs to scaling crypto projects. In 2026, crypto companies face the same AML regulatory weight as traditional banks, but most AML platforms are built for the top of the market with six-figure annual contracts. AMLBot delivers the same quality of compliance infrastructure top-tier exchanges rely on — at a price and setup speed that works for small and medium teams. What AMLBot Covers: 1. Wallet Screening & Risk Scoring (AML Tool) — check any cryptocurrency address for exposure to illicit funds, with risk scoring across 35+ data sources and 99.5% data accuracy. 2. KYT (Know Your Transaction) Monitoring — real-time transaction monitoring with automated risk scoring and custom alert thresholds (Low to Severe). Detect suspicious behavior the moment it happens, with automatic re-checks that keep you audit-ready. 3. KYC/KYB Verification — automated onboarding for individuals and legal entities: 4,000+ document types from 240 countries, verification in 1–10 minutes, PEP and sanctions screening against daily-updated lists (OFAC, UN, EU, Interpol). Integrated via API or iFrame. 4. Blockchain Investigations (Tracer) — follow funds across chains, through swaps and on/off-ramps. Connect transactions to real-world entities — darknet markets, scams, ransomware, mixers — and export visualized, court-ready evidence. Includes AI Tracer: paste a transaction hash and get an auditable fund-flow map ready for a compliance report. 5. Crypto Asset Recovery — in case of theft or fraud, our in-house investigation team traces stolen funds and prepares documented proof for legal and exchange claims. $140M+ traced for clients, with a 72-hour median time to first freeze.

**Average Rating:** 4.6/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate AMLBot?

- **Regulations and Jurisdictions:** 10.0/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 10.0/10 (Category avg: 8.8/10)

#### Who Is the Company Behind AMLBot?

- **Seller:** [AMLBot](https://www.g2.com/sellers/amlbot)
- **Year Founded:** 2019
- **HQ Location:** Hong Kong, HK
- **Twitter:** @AMLBotHQ
- **LinkedIn® Page:** [linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=7d17386bc0843a9cb94471e3da29bfe40827a9682f9fac042347b4be2c4b5499&secure%5Burl%5D=https%3A%2F%2Flinkedin.com%2Fcompany%2Famlbot%2F&secure%5Burl_type%5D=linkedin_company_website)  
45 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 100% Small

#### What Do G2 Reviewers Say About AMLBot?

_AI-generated summary from verified user reviews_

##### Pros

- Users appreciate the **smooth onboarding process** of AMLBot, which provides peace of mind during financial recovery.
- Users commend AMLBot's **performance efficiency** , successfully stopping scams and retrieving stolen funds swiftly and smoothly.
- Users appreciate the **security features** of AMLBot, which effectively prevent financial scams and provide peace of mind.

#### What Are Recent G2 Reviews of AMLBot?

**["Effortless Risk Assessment with Top-Notch Support"](https://www.g2.com/survey_responses/amlbot-review-13112553)**

**Rating:** 5.0/5.0 stars

_— Pavel V._

[Read full review](https://www.g2.com/survey_responses/amlbot-review-13112553)

**["Reliable Multi-Chain Screening with Fast, Easy AMLBot API Integration"](https://www.g2.com/survey_responses/amlbot-review-13089720)**

**Rating:** 4.5/5.0 stars

_— nnn k._

[Read full review](https://www.g2.com/survey_responses/amlbot-review-13089720)

### [Dixtior Compliance Solution (DCS)](https://www.g2.com/products/dixtior-dixtior-compliance-solution-dcs/reviews)

The Dixtior Compliance Solution (DCS) analyses and assesses all a financial institution's transactions and issues alerts whenever suspicious activity is detected. What makes it different is the fact that it can be adapted to each client's AML (anti-money laundering) context.

**Average Rating:** 4.6/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate Dixtior Compliance Solution (DCS)?

- **Regulations and Jurisdictions:** 10.0/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 10.0/10 (Category avg: 8.8/10)

#### Who Is the Company Behind Dixtior Compliance Solution (DCS)?

- **Seller:** [Dixtior](https://www.g2.com/sellers/dixtior)
- **Year Founded:** 2013
- **HQ Location:** Lisboa, PT
- **LinkedIn® Page:** [linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=121e5ec77d46d3d9e91dde475c84155e4fc7b69cb97bf6d1d0fd61fc4a3ee57d&secure%5Burl%5D=https%3A%2F%2Flinkedin.com%2Fcompany%2Fdixtior&secure%5Burl_type%5D=linkedin_company_website)  
26 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 50% Large, 50% Small

#### What Are Recent G2 Reviews of Dixtior Compliance Solution (DCS)?

**["Business Consultancy with Greatest Technologies"](https://www.g2.com/survey_responses/dixtior-compliance-solution-dcs-review-7317847)**

**Rating:** 5.0/5.0 stars

_— Vikram R._

[Read full review](https://www.g2.com/survey_responses/dixtior-compliance-solution-dcs-review-7317847)

**["Analyze all transactions using Dixtior Compliance Solution (DCS). Prevent money laundering."](https://www.g2.com/survey_responses/dixtior-compliance-solution-dcs-review-8340913)**

**Rating:** 5.0/5.0 stars

_— Raila G._

[Read full review](https://www.g2.com/survey_responses/dixtior-compliance-solution-dcs-review-8340913)

### [First AML](https://www.g2.com/products/first-aml/reviews)

First AML is an all-in-one AML platform. It powers thousands of compliance experts around the globe to reduce the time and cost burden of complex and international entity KYC. Its enterprise wide, long term approach to the CDD data lifecycle addresses time and cost challenges while minimising compliance, reputational and security risks.

**Average Rating:** 4.6/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate First AML?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 8.3/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 10.0/10 (Category avg: 8.8/10)

#### Who Is the Company Behind First AML?

- **Seller:** [First AML](https://www.g2.com/sellers/first-aml)
- **Year Founded:** 2017
- **HQ Location:** Auckland, NZ
- **Twitter:** @first\_aml  
120 Twitter followers
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=589d1097a2ceac9f05e3ba24b9456f41cf78925a31985a56df5dd84daf16e852&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F18675268%2F&secure%5Burl_type%5D=linkedin_company_website)  
79 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 75% Large, 25% Medium

#### What Are Recent G2 Reviews of First AML?

**["Excellent software for AML checks"](https://www.g2.com/survey_responses/first-aml-review-7208360)**

**Rating:** 4.5/5.0 stars

_— Sunny G._

[Read full review](https://www.g2.com/survey_responses/first-aml-review-7208360)

**["compliance easier, and increases productivity"](https://www.g2.com/survey_responses/first-aml-review-9729512)**

**Rating:** 4.5/5.0 stars

_— Mahmoud A._

[Read full review](https://www.g2.com/survey_responses/first-aml-review-9729512)

### [flaminem](https://www.g2.com/products/flaminem/reviews)

Flaminem offers a software platform that enables you to digitize your clients' KYC due diligence processes

**Average Rating:** 4.3/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate flaminem?

- **Regulations and Jurisdictions:** 7.2/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 6.7/10 (Category avg: 8.9/10)
- **Watch List:** 7.2/10 (Category avg: 8.8/10)

#### Who Is the Company Behind flaminem?

- **Seller:** [flaminem](https://www.g2.com/sellers/flaminem)
- **Year Founded:** 2013
- **HQ Location:** Neuilly-sur-Seine, FR
- **LinkedIn® Page:** [fr.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=89cae22c40aead30bf270290fb4cc7f6d8399cecb37a129774bfb9f8c78ef988&secure%5Burl%5D=https%3A%2F%2Ffr.linkedin.com%2Fcompany%2Fflaminem&secure%5Burl_type%5D=linkedin_company_website)  
15 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 75% Medium, 25% Large

#### What Do G2 Reviewers Say About flaminem?

_AI-generated summary from verified user reviews_

##### Pros

- Users benefit from the **automation** in Flaminem, streamlining KYC processes and enhancing client onboarding efficiency.
- Users find that **KYB integration** simplifies KYC due diligence and enhances client onboarding efficiency.
- Users appreciate the **simplified client onboarding** process with Flaminem, eliminating manual document verification and data extraction.

##### Cons

- Users find the **complexity of integration** with existing systems adds to the challenges of using Flaminem effectively.

#### What Are Recent G2 Reviews of flaminem?

**["Centralized storage of KYC documents improves accessibility"](https://www.g2.com/survey_responses/flaminem-review-10416600)**

**Rating:** 4.5/5.0 stars

_— ANIENTO C._

[Read full review](https://www.g2.com/survey_responses/flaminem-review-10416600)

**["" Great pletform for KYC Due diligence""](https://www.g2.com/survey_responses/flaminem-review-8534143)**

**Rating:** 4.5/5.0 stars

_— Sugat m._

[Read full review](https://www.g2.com/survey_responses/flaminem-review-8534143)

### [KYC Hub](https://www.g2.com/products/kyc-hub/reviews)

KYC Hub simplifies identity and business verification and AML compliance. KYC Hub's integrated set of tools make compliance seamless, automated and cost effective.

**Average Rating:** 4.0/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate KYC Hub?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 6.1/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 8.3/10 (Category avg: 8.9/10)
- **Watch List:** 6.7/10 (Category avg: 8.8/10)

#### Who Is the Company Behind KYC Hub?

- **Seller:** [KYC Hub](https://www.g2.com/sellers/kyc-hub)
- **Year Founded:** 2019
- **HQ Location:** London, GB
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=0b7243dded2418460d5b5f94ae27772813b7af24de991af65ec3c5a937792518&secure%5Burl%5D=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fkychub&secure%5Burl_type%5D=linkedin_company_website)  
87 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 75% Small, 25% Large

#### What Do G2 Reviewers Say About KYC Hub?

_AI-generated summary from verified user reviews_

##### Pros

- Users appreciate the **speedy ID verification** of KYC Hub, enhancing accessibility in various countries and languages.
- Users appreciate the **global accessibility and fast verification** of KYC Hub, making identity checks efficient and user-friendly.

##### Cons

- Users experience **poor customer support** , often facing slow responses when resolving issues with KYC Hub.
- Users feel that KYC Hub has **poor usability** , suggesting a need for improvements in user experience.

#### What Are Recent G2 Reviews of KYC Hub?

**["This is what makes me use kyc hub for verification in my crypto journey"](https://www.g2.com/survey_responses/kyc-hub-review-10441314)**

**Rating:** 4.5/5.0 stars

_— gikiru P._

[Read full review](https://www.g2.com/survey_responses/kyc-hub-review-10441314)

**["Best Tool for Onboarding and Compliance"](https://www.g2.com/survey_responses/kyc-hub-review-7947501)**

**Rating:** 5.0/5.0 stars

_— Venkatramanan S._

[Read full review](https://www.g2.com/survey_responses/kyc-hub-review-7947501)

### [OnBoard by MVSI](https://www.g2.com/products/onboard-by-mvsi/reviews)

OnBoard by MVSI is an end-to-end merchant onboarding and compliance platform designed for regulated payments, fintech, and financial services. It enables organizations to onboard, verify, and manage business customers while applying regulatory, risk, and compliance controls consistently across the onboarding lifecycle, from initial application through ongoing customer due diligence (OCDD). The platform is used by acquirers, payment service providers (PSPs), payment facilitators (PayFacs), fintechs, business lenders, and banks that are responsible for onboarding merchants in complex regulatory environments. It is built for teams managing high onboarding volumes, diverse merchant risk profiles, and operations across multiple jurisdictions, providing a single system of record for onboarding, verification, and compliance activities. OnBoard unifies digital onboarding, KYB, KYC, AML screening, underwriting, risk decisioning, and ongoing monitoring in a single platform. Compliance and risk controls are embedded directly into onboarding workflows, rather than treated as separate or downstream checks. This approach enables faster, more secure, and audit-ready onboarding while maintaining regulatory alignment across markets. The platform supports risk-based onboarding through configurable workflows, risk profiles, scoring models, and decision rules. Payments teams can collect and verify information, route tasks, and manage assessments and approvals in line with internal policies and regulatory requirements. The platform supports digital applications and contract generation as part of automated onboarding workflows. Intelligent workflow routing reduces manual effort and communication errors, while ensuring onboarding decisions are applied consistently across teams. OnBoard also provides configurable onboarding journeys, drag-and-drop Smart Forms, and fully white-labelled experiences. These capabilities allow organizations to design compliant, brand-aligned onboarding processes that reduce friction for merchants without compromising control. Real-time monitoring for sanctions, politically exposed persons (PEPs), and adverse media supports ongoing due diligence, with alerts triggered when risk or compliance status changes. The platform operates across more than 120 countries and supports over 20 languages, making it suitable for organizations with global onboarding requirements. AML on Demand extends OnBoard with expert-led verification services, providing scalable, multilingual AML, KYC, KYB, OCDD, and remediation support across jurisdictions. By combining intelligent automation with embedded compliance and expert verification services, OnBoard helps regulated organizations maintain oversight, manage risk, and scale merchant onboarding operations with confidence.

**Average Rating:** 4.9/5.0

**Total Reviews:** 6

#### How Do G2 Users Rate OnBoard by MVSI?

- **Ease of Admin:** 10.0/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 9.4/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 8.3/10 (Category avg: 8.9/10)
- **Watch List:** 8.3/10 (Category avg: 8.8/10)

#### Who Is the Company Behind OnBoard by MVSI?

- **Seller:** [MVSI](https://www.g2.com/sellers/mvsi)
- **Year Founded:** 2018
- **HQ Location:** North Sydney, AU
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=4ccc0792f4c49cf586bb000d7f1422493c56e3be7632a1138a026220f3efc378&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmvsi%2F&secure%5Burl_type%5D=linkedin_company_website)  
51 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 67% Small, 33% Medium

#### What Do G2 Reviewers Say About OnBoard by MVSI?

_AI-generated summary from verified user reviews_

##### Pros

- Users appreciate the **API usability** of OnBoard, enjoying seamless integration with third-party systems and great documentation.
- Users value the **excellent communication** from the support team, ensuring clarity and assistance throughout the onboarding process.
- Users value the **comprehensive coverage** of OnBoard, enabling flexible and seamless onboarding experiences for customers.
- Users value the **knowledgeable and responsive customer support** of OnBoard, enhancing their overall experience with the platform.
- Users appreciate the **ease of use** of OnBoard, highlighting its simplicity and adaptability for a positive experience.

#### What Are Recent G2 Reviews of OnBoard by MVSI?

**["Helped up scale faster!"](https://www.g2.com/survey_responses/onboard-by-mvsi-review-9393000)**

**Rating:** 5.0/5.0 stars

_— Corrie H._

[Read full review](https://www.g2.com/survey_responses/onboard-by-mvsi-review-9393000)

**["Comprehensive and flexible platform"](https://www.g2.com/survey_responses/onboard-by-mvsi-review-9392939)**

**Rating:** 5.0/5.0 stars

_— Verified User in Financial Services_

[Read full review](https://www.g2.com/survey_responses/onboard-by-mvsi-review-9392939)

### [SAS Customer Due Diligence](https://www.g2.com/products/sas-customer-due-diligence/reviews)

Protect your institution by rating new customers and updating customer scoring based on key events that could affect the overall risk of your customer relationships. SAS helps you take a more comprehensive approach to customer due diligence, one that is always on so you can be as proactive as possible.

**Average Rating:** 2.9/5.0

**Total Reviews:** 4

#### How Do G2 Users Rate SAS Customer Due Diligence?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 7.8/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 7.8/10 (Category avg: 8.9/10)
- **Watch List:** 7.2/10 (Category avg: 8.8/10)

#### Who Is the Company Behind SAS Customer Due Diligence?

- **Seller:** [SAS Institute Inc.](https://www.g2.com/sellers/sas-institute-inc-df6dde22-a5e5-4913-8b21-4fa0c6c5c7c2)
- **Year Founded:** 1976
- **HQ Location:** Cary, NC
- **Twitter:** @SASsoftware  
60,863 Twitter followers
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=64db42c044af5bbad79bd9677a620a6c31a8ff1abf4e7b2a6f1d6ed9561d105d&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F1491%2F&secure%5Burl_type%5D=linkedin_company_website)  
18,638 employees on LinkedIn®
- **Phone:** 1-800-727-0025

#### Who Uses This Product?

- **Company Size:** 100% Small

#### What Are Recent G2 Reviews of SAS Customer Due Diligence?

**["Solid solution for performing customer due diligence"](https://www.g2.com/survey_responses/sas-customer-due-diligence-review-8588136)**

**Rating:** 4.5/5.0 stars

_— Vivek K._

[Read full review](https://www.g2.com/survey_responses/sas-customer-due-diligence-review-8588136)

**["Product Specification"](https://www.g2.com/survey_responses/sas-customer-due-diligence-review-7864207)**

**Rating:** 4.5/5.0 stars

_— Shashank S._

[Read full review](https://www.g2.com/survey_responses/sas-customer-due-diligence-review-7864207)

### [C3 Anti-Money Laundering](https://www.g2.com/products/c3-anti-money-laundering/reviews)

Reduce false positive alerts and identify more suspicious cases by applying AI / machine learning to AML business processes

**Average Rating:** 3.8/5.0

**Total Reviews:** 3

#### How Do G2 Users Rate C3 Anti-Money Laundering?

- **Regulations and Jurisdictions:** 10.0/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 5.0/10 (Category avg: 8.8/10)

#### Who Is the Company Behind C3 Anti-Money Laundering?

- **Seller:** [C3.ai](https://www.g2.com/sellers/c3-ai)
- **Year Founded:** 2009
- **HQ Location:** Redwood City, CA
- **Twitter:** @C3IoT  
76 Twitter followers
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=f8f010bf04be88ec1f738e4a3ae7d54f3a1f5e76533def7de9011ee93f7fd6b2&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fc3-ai%2F&secure%5Burl_type%5D=linkedin_company_website)  
1,140 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 67% Large, 33% Small

#### What Are Recent G2 Reviews of C3 Anti-Money Laundering?

**["Great tool for monitoring monetary activities"](https://www.g2.com/survey_responses/c3-anti-money-laundering-review-7240800)**

**Rating:** 4.5/5.0 stars

_— Verified User in Financial Services_

[Read full review](https://www.g2.com/survey_responses/c3-anti-money-laundering-review-7240800)

### [ClearDil Platform](https://www.g2.com/products/cleardil-platform/reviews)

Cleardil is a cloud-based end-to-end Know Your Customer (KYC) compliance solution that streamlines the process of identity verification and customer due diligence. Our KYC API enables organizations to automate the KYC process, from customer onboarding to ongoing monitoring, to help ensure compliance with regulatory requirements and minimize the risk of financial crime. With features like real-time identity verification, document verification, and risk assessments, Cleardil helps organizations quickly and accurately assess their clients' identities and backgrounds. It helps organizations to reduce their risk of exposure to money laundering, terrorism financing, and other financial crimes.

**Average Rating:** 4.8/5.0

**Total Reviews:** 3

#### How Do G2 Users Rate ClearDil Platform?

- **Ease of Admin:** 10.0/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 10.0/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 9.4/10 (Category avg: 8.8/10)

#### Who Is the Company Behind ClearDil Platform?

- **Seller:** [ClearDil](https://www.g2.com/sellers/cleardil)
- **Year Founded:** 2021
- **HQ Location:** Regents Park, GB
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=c8ea62cc9a65e904feb9a7613a6512a27384e023ff3cc1d48e1d1e095186fa22&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fcleardil&secure%5Burl_type%5D=linkedin_company_website)  
6 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 100% Small

#### What Are Recent G2 Reviews of ClearDil Platform?

**["ClearDil: Fast, Reliable AI Identity Verification with a Clean Dashboard"](https://www.g2.com/survey_responses/cleardil-platform-review-13176639)**

**Rating:** 4.5/5.0 stars

_— Verified User in Real Estate_

[Read full review](https://www.g2.com/survey_responses/cleardil-platform-review-13176639)

**["KYC Software for Real Estate Asset Manager"](https://www.g2.com/survey_responses/cleardil-platform-review-12699838)**

**Rating:** 5.0/5.0 stars

_— Verified User in Real Estate_

[Read full review](https://www.g2.com/survey_responses/cleardil-platform-review-12699838)

### [Clear View KYC](https://www.g2.com/products/clear-view-kyc/reviews)

Clear View KYC is an enterprise solution for watchlist management, sanctions and PEP screening enables your financial applications to comply with AML & CTF regulations, using our single endpoint enterprise level Backend-as-a- Service (BaaS).

**Average Rating:** 4.0/5.0

**Total Reviews:** 3

#### Who Is the Company Behind Clear View KYC?

- **Seller:** [Clear View Systems](https://www.g2.com/sellers/clear-view-systems)
- **Year Founded:** 2003
- **HQ Location:** North Vancouver, CA
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=0571e7f6cca4fb0ba9b5ddd6e3ac75eaad8fb3bcc57e6647097b80db045c4aee&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F688055%2F&secure%5Burl_type%5D=linkedin_company_website)  
21 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 33% Large, 33% Medium

#### What Are Recent G2 Reviews of Clear View KYC?

**["A very handy tool for front-line Compliance checks"](https://www.g2.com/survey_responses/clear-view-kyc-review-7180559)**

**Rating:** 5.0/5.0 stars

_— Fahad K._

[Read full review](https://www.g2.com/survey_responses/clear-view-kyc-review-7180559)

### [Dataspike](https://www.g2.com/products/dataspike/reviews)

DataSpike is a fast, modular compliance platform for fintech, crypto, and other high-risk industries. It offers real-time KYC, AML, and age verification through in-house biometric and document checks, liveness detection, and deepfake prevention. Businesses use DataSpike to verify identities, meet regulatory requirements, and reduce fraud – without adding friction to onboarding. The platform supports identity checks, sanctions screening, age estimation, and configurable risk rules per country or product. Easily integrate via API, hosted flow, or white-label. Whether you're launching a new app or scaling globally, DataSpike keeps you compliant, secure, and user-friendly – from day one.

**Average Rating:** 4.8/5.0

**Total Reviews:** 3

#### How Do G2 Users Rate Dataspike?

- **Regulations and Jurisdictions:** 8.9/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 10.0/10 (Category avg: 8.9/10)
- **Watch List:** 9.2/10 (Category avg: 8.8/10)

#### Who Is the Company Behind Dataspike?

- **Seller:** [Dataspike](https://www.g2.com/sellers/dataspike)
- **Year Founded:** 2019
- **HQ Location:** Limassol, CY
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=4d38851a694b1cb3e125a102d7b02da1c0fcd4150b84b425130f24d805016a2a&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fdataspike&secure%5Burl_type%5D=linkedin_company_website)  
16 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 67% Small, 33% Medium

#### What Are Recent G2 Reviews of Dataspike?

**["Good and reliable service, wide coverage."](https://www.g2.com/survey_responses/dataspike-review-8177027)**

**Rating:** 5.0/5.0 stars

_— Maxim M._

[Read full review](https://www.g2.com/survey_responses/dataspike-review-8177027)

**["Dataspike is incredibly advantageous, as it helps us save a significant amount of time."](https://www.g2.com/survey_responses/dataspike-review-8512353)**

**Rating:** 4.5/5.0 stars

_— Andrey D._

[Read full review](https://www.g2.com/survey_responses/dataspike-review-8512353)

### [deepidv](https://www.g2.com/products/deepidv/reviews)

DeepIDV is not just an Identity Verification solution. We are a comprehensive platform offering Bank Statement Retrieval, AI-Powered Analysis of Identity and Financial Documents, Biometric-Enabled E-Signatures, Biometric-Enabled Document Transfers, and Credit Approval tools. This allows users to fully customize their onboarding journey—from Identity Verification to Credit Report pulls and Background Checks. We are the all-in-one solution for KYC and AML compliance. DeepIDV helps organizations securely and efficiently verify user identities across digital platforms. It belongs to the category of identity verification and compliance tools, and is essential for fintechs, telecommunications providers, marketplaces, and global platforms that require robust Know Your Customer (KYC), Anti-Money Laundering (AML), and age verification processes. DeepIDV enables businesses to implement digital identity verification through flexible API integrations or no-code workflows. It supports an extensive suite of verification modules, including document analysis, facial biometrics, proof of address, age estimation, and device intelligence. The platform is engineered to adapt to diverse compliance frameworks while perfectly balancing user experience with stringent security requirements. The software is particularly powerful for organizations that need to: Onboard users seamlessly while meeting global compliance standards like AML and KYC. Prevent fraud through advanced biometric and behavioral analytics. Verify age for restricted services such as gaming, alcohol sales, or adult content. Operate across multiple jurisdictions with support for global identity documents. Key features and benefits include: Unified Platform: An all-in-one solution integrating KYC, AML, financial analysis, biometric signatures, and credit approval. Flexible Integration: Offers both API and no-code options for rapid deployment in any technical environment. Configurable Workflows: Create tailored user journeys by combining verification, analysis, and compliance steps. Comprehensive Developer Resources: Includes detailed documentation, webhooks, and self-service tools for smooth implementation. Cost-Effective & Transparent Pricing: A clear credit-based model with no minimum volumes or expiration dates. Global Coverage: Supports international identity documents and adheres to regional regulatory requirements. DeepIDV is the ideal partner for companies seeking to streamline user verification, significantly reduce fraud risk, and ensure full regulatory compliance—all without sacrificing usability or operational control.

**Average Rating:** 5.0/5.0

**Total Reviews:** 14

#### Who Is the Company Behind deepidv?

- **Seller:** [deepidv](https://www.g2.com/sellers/deepidv)
- **Year Founded:** 2024
- **HQ Location:** Toronto, CA
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=348e587daa4f90b26f44cc142e45f16fbf5e3d54de0919c3f4c90da3bb464250&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fdeepidv%2F&secure%5Burl_type%5D=linkedin_company_website)  
28 employees on LinkedIn®

#### Who Uses This Product?

- **Top Industries:** Financial Services
- **Company Size:** 79% Medium, 21% Small

#### What Are Recent G2 Reviews of deepidv?

**["DeepIDV Delivers Secure, Smooth Verification with Powerful Fraud Detection"](https://www.g2.com/survey_responses/deepidv-review-13034355)**

**Rating:** 5.0/5.0 stars

_— Patrick L._

[Read full review](https://www.g2.com/survey_responses/deepidv-review-13034355)

**["Flexible, Fast Identity Verification That Simplifies Multi-Market Onboarding"](https://www.g2.com/survey_responses/deepidv-review-13042123)**

**Rating:** 5.0/5.0 stars

_— John M._

[Read full review](https://www.g2.com/survey_responses/deepidv-review-13042123)

### [Emlo Compliance](https://www.g2.com/products/emlo-compliance/reviews)

A compliance sanctions screening whereby you will be able to check on PEPs, AML, Terrorist Financing, Criminals, Enforcement and etc. It comes in both the GUI and API if you would like to integrate it into your system.

**Average Rating:** 4.2/5.0

**Total Reviews:** 3

#### How Do G2 Users Rate Emlo Compliance?

- **Ease of Admin:** 8.3/10 (Category avg: 8.8/10)
- **Regulations and Jurisdictions:** 5.0/10 (Category avg: 8.9/10)
- **Real-Time Dashboards:** 6.7/10 (Category avg: 8.9/10)
- **Watch List:** 6.7/10 (Category avg: 8.8/10)

#### Who Is the Company Behind Emlo Compliance?

- **Seller:** [Emlo Technologies](https://www.g2.com/sellers/emlo-technologies)
- **HQ Location:** singapore, SG
- **LinkedIn® Page:** [www.linkedin.com](https://www.g2.com/external_clickthroughs/record?secure%5Bsource_type%5D=product_profile&secure%5Btoken%5D=3bc35cd5fd617b8b2107abc87e9f80b78fd33e5f392606d634c675e6a2f467ed&secure%5Burl%5D=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Femlo-technologies%2F&secure%5Burl_type%5D=linkedin_company_website)  
4 employees on LinkedIn®

#### Who Uses This Product?

- **Company Size:** 33% Small, 33% Medium

#### What Are Recent G2 Reviews of Emlo Compliance?

**["Elmo Compliance"](https://www.g2.com/survey_responses/emlo-compliance-review-7315481)**

**Rating:** 4.0/5.0 stars

_— Shahid M._

[Read full review](https://www.g2.com/survey_responses/emlo-compliance-review-7315481)

**["Emlo Compliance deals with financial transactions and regulatory processes"](https://www.g2.com/survey_responses/emlo-compliance-review-7364249)**

**Rating:** 4.5/5.0 stars

_— Verified User in Telecommunications_

[Read full review](https://www.g2.com/survey_responses/emlo-compliance-review-7364249)

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[Browse Anti-Money Laundering (AML) Themes](/categories/anti-money-laundering/themes)

 ![Lauren Worth](/assets/transparent-ad5be28fbcd25b7b08d2cebe1d957125437fb5407d75ee717965ad22c8808791.gif "Lauren Worth")
LW

Researched and written by [Lauren Worth](https://research.g2.com/insights/author/lauren-worth)

Updated June 9, 2025

This page was last updated on June 9th, 2025

Anti-money laundering (AML) software is used by companies to detect suspicious activities by persons or organizations who are trying to generate income through illegal actions.

Compliance professionals use this software to comply with regulations, like the Bank Secrecy Act, and corporate policies regarding financial fraud. Accountants and managers from all departments can also benefit from using this software when evaluating new customers and suppliers. Additionally, AML software is used by banks and financial institutions to detect suspicious and fraudulent activities that may impact their profitability and damage their reputation.

Companies can work with AML software vendors to avoid doing business with corrupt individuals or organizations that are suspicious of financial fraud, criminal financing, or securities market manipulation.

AML software uses information from multiple solutions that manage financial transactions, such as enterprise resource planning (ERP) systems and accounting software. For large companies with high volumes of financial transactions, integrating AML software with corporate performance management software can also be beneficial.

To qualify for inclusion in the Anti-Money Laundering (AML) category, a product must:

- Use intelligent algorithms for fraud detection and risk management
- Include watch lists of suspicious individuals and organizations
- Allow users to assign scores based on risk potential and history
- Deliver standard AML documents and reports for compliance purposes
- Provide behavior models to detect suspicious individuals or companies
- Offer dashboards with real-time data to immediately identify potential risks

Show More

* * *

## How Do You Choose the Right Anti-Money Laundering Software?

### What You Should Know About Anti-Money Laundering Software

### What is Anti-Money Laundering Software?

Anti-money laundering (AML) software helps companies fight financial crime through transaction monitoring to identify any suspicious activity such as terrorist financing and money laundering activities. In addition, this type of software ensures that companies follow anti-money laundering compliance and legal requirements when working with customers and partners to avoid doing business with money laundering entities. 

Anti-money laundering software identifies suspicious individuals such as a politically exposed person (PEP) or companies that may illegally try to clean fraudulently obtained or stolen funds. In addition, AML provides enhanced due diligence through transaction monitoring for financial services companies and corporations. 

**What Does AML Stand For?**

AML stands for anti-money laundering, a subset of regulatory technology (regtech) focusing on money laundering. 

#### What Types of Anti-Money Laundering Software Exist?

Depending on how they're sold and used, there are two major types of AML software:

**Standalone**

AML is usually a standalone product, which can be deployed and used separately from other software solutions such as enterprise risk management (also known as GRC platforms). Anti-money laundering platforms tend to have more detailed and advanced anti-money laundering features since they focus exclusively on this business need. Standalone AML may be more affordable than GRC platforms but require integration with the latter, which may increase the cost of ownership. 

**Part of a platform**

AML can also be sold and used as a module of larger systems like GRC platforms. In addition, some anti money laundering software vendors offer GRC suites that combine multiple products like audit management, regulatory change management, and AML. While a company can buy each module and suite component separately, various options from the same vendors are preferable since they are tightly integrated and usually built on the same platform.

### What are the Common Features of Anti-Money Laundering Software?

The following are some core features within anti-money laundering Software that can help companies avoid AML fraud:

**Know your customer (KYC):** AML is used during customer onboarding for due diligence, ensuring that customers aren't under suspicion of illegal activities. Customer due diligence is crucial to companies dealing with businesses and individuals from corrupt countries more likely to engage in money laundering activities.

**AML compliance management:** To determine who should be considered suspicious or compromised, companies must stay updated with the latest national and global regulations created to fight corruption, terrorism, and fraud. AML software should provide a detailed and current database of laws and regulations that companies must comply with to avoid dealing with suspicious individuals and companies. 

**Workflows:** Identifying suspicious individuals and companies is only the first step in AML. The following steps are to decide how to deal with them. Ideally, a company should not do business with anyone who may be corrupt or fraudulent, but the reality is often more complicated. For this reason, companies need workflows to mitigate AML risks. For instance, identifying a suspicious activity may require multiple steps involving several users and requiring approval from managers.

**Suspicious persons and companies database:** Local and global institutions focusing on fighting crime create and maintain lists of corrupt individuals and fraudulent companies worldwide. These lists aren't always public and are updated regularly. AML software can provide this information to its users through integration with external databases or as a part of the system. An example of lists used for screening is one by the Office of Foreign Assets and Control (OFAC).

**Risk scoring:** AML users need to assign different risk ratings to any person or company deemed suspicious. While most AML solutions provide automated risk scoring features, users may need to manually adjust scores based on information that may not be available in the software's database. The recent war in Ukraine is an excellent example, as sanctions against Russia have been adopted by multiple countries relatively fast and may not be automatically updated on the software.

**Watch lists** : Watch lists are created when there is no clear proof that a person or company is corrupt or dishonest, but there are indications that they may be suspicious. For instance, governments publish sanctions lists that include PEPs, but each country has different AML standards, and these lists change constantly.

**Case management** : Companies with large numbers of transactions require case management functionality to track and address all incidents in a centralized manner. Each case can be assigned to different teams and escalated based on rules and workflows. For instance, some AML users may focus on currency transactions and others on investments, which requires that each team manages different types of cases.

**Analytics and dashboards:** Analytics features monitor money laundering activities, while dashboards provide real-time data and alerts such as false positives and high-risk transactions. AML includes features for suspicious transactions reports (STRs) and suspicious activity reports (SAR) and monitors a company's compliance with regulatory requirements such as the Bank Secrecy Act (BSA). 

### What are the Benefits of Anti-Money Laundering Software?

The following are some of the benefits of anti-money laundering software.

**Prevent fraud:** AML provides fraud detection features so companies can identify suspicious individuals and companies before dealing with them. This software also helps companies adopt rules and best practices such as Combating the Financing of Terrorism (CFT).

**Ensure compliance:** AML compliance is more than just a legal obligation. Companies must take a proactive approach to AML through due diligence and fraud detection. This ensures that they comply and prevent AML fraud before it happens, thus protecting the reputation and financial stability of the company.

**Avoid monetary losses:** Another risk related to corrupt or criminal individuals is that they may not pay for the products and services they buy. Moreover, in many cases, these individuals and companies are based in countries where international law cannot be enforced, which means that companies seldomly recover their money. It is, therefore, preferable to avoid doing business with this kind of person or business.

**Ensure brand protection** : Dealing with suspicious individuals and companies can negatively impact a company's reputation and employees. Even limited interactions and low-value transactions with corrupt persons can jeopardize the public's perception of a company. 

### What's the most effective AML compliance software?

Finding the most effective AML-compliant software depends on what you or your business's goals are. Consider some of these themes when choosing your AML software: Age Verification, Biometric Authentication, Fraud Prevention, Know Your Customer (KYC), and Transaction Monitoring. 

Here are some of the top contenders based on recent reviews:

- [ComplyCube](https://www.g2.com/products/complycube/reviews): This AI-powered platform streamlines AML compliance and identity verification to secure business operations and support scalable growth.
- [Sanction Scanner](https://www.g2.com/products/sanction-scanner/reviews): This AML software provides cost-efficient AML solutions aimed at fighting financial crimes, helping companies monitor transactions and detect suspicious behavior.
- [Dow Jones Risk & Compliance](https://www.g2.com/products/dow-jones-risk-compliance): This solution offers third-party risk management and regulatory compliance services, helping companies evaluate third-party risks with confidence.

### Who Uses Anti-Money Laundering Software?

AML software can benefit all departments engaged in business transactions with customers or suppliers.

**Risk and compliance officers:** Anti-money laundering programs are usually a part of a more extensive governance, risk, and compliance strategy meant to protect the entire company from any threat such as privacy violations, data breaches, brand damage, and employee mistreatment, etc. While chief risk and compliance officers (CROs) use AML software to define company-wide policies to fight money laundering, compliance officers are responsible for implementing these policies and ensuring they are followed.

**Finance professionals:** Financial teams use AML to monitor currency transactions that may involve money laundering. While it's preferable to identify suspicious persons before working with them, this may not always happen, but it's essential to identify and block suspicious transactions.

**Sales professionals:** While sales teams focus on finding new customers and closing deals, they must also consider who they're dealing with. As mentioned above, doing business with corrupt individuals or companies accused of money laundering can harm the company. The sales team relies on AML software to avoid such a situation.

### Which anti-money laundering tool is best for small businesses?

Here are some of the best Anti-Money Laundering tools for small businesses considering budget and ease of use:

- [**Ondato**](https://www.g2.com/products/ondato/reviews), which is known for high accuracy and global coverage, Ondato streamlines KYC, AML, and compliance, reducing business costs significantly.
- [**Sumsub**](https://www.g2.com/products/sumsub/reviews) provides customizable KYC/AML, fraud prevention, and more, catering to diverse industries like fintech and gaming.
- [**iDenfy**](https://www.g2.com/products/idenfy/reviews) offers a wide range of solutions including identity, age, and business verification, along with fraud prevention and AML compliance.

### What are the Alternatives to Anti-Money Laundering Software?

Alternatives to anti-money laundering software can replace this type of software, either wholly or partially:

[GRC platforms](https://www.g2.com/categories/grc-platforms): AML software can only be replaced by GRC platforms that include anti-money laundering functionality. 

#### Software Related to Anti-Money Laundering Software

Related solutions that can be used together with anti-money laundering software include:

[GRC platforms](https://www.g2.com/categories/grc-platforms) **:** GRC platforms include functionality for most types of compliance, from privacy and security to employee safety and anti-money laundering. This type of fintech software ensures customer due diligence and provides features for fraud detection that help companies prevent money laundering.

[Third party & supplier risk management software](https://www.g2.com/categories/third-party-supplier-risk-management) **:** This type of software manages the risks of working with suppliers and partners, while AML focuses on customers, which means that the two solutions are complementary. A customer of a company may also be a partner or supplier. For instance, a provider of logistics services may acquire equipment from a manufacturing company and help them with shipping and warehousing. 

[Sales software](https://www.g2.com/categories/sales) **:** AML can be critical for sales teams dealing with customers from countries with a high level of corruption, crime, and political instability, especially for transactions that involve significant amounts of money. 

### Challenges with Anti-Money Laundering Software

AML software solutions can come with their own set of challenges. 

**Up-to-date information:** This challenge is twofold: first, companies need to maintain an updated database of AML regulations, and second, watch lists including corrupt persons or fraudulent businesses must also be up to date. 

**Services vs. software:** AML vendors don't always have lists and databases of corrupt persons or criminals, so they have to work with services companies that create and maintain these lists. These services companies may only provide portals to access the data and sometimes dashboards for analytics. As a result, AML buyers need software and these services to efficiently avoid business with compromised companies and persons.

**Pricing:** The cost of an AML solution may include more than just software licenses. As mentioned above, the software may require additional to make the most of it. Integration with other software also requires additional spending.

**Cryptocurrency** : Since it's difficult to track, cryptocurrency can be used in transactions by corrupt institutions or terrorism financing. Also, cryptocurrency is relatively new, and legislation to regulate it is still in its early stages, posing a challenge to AML software. 

### Which Companies Should Buy Anti-Money Laundering Software?

**Financial institutions:** Banks and insurance companies are the most exposed to AML fraud since suspicious individuals and companies need their services to turn dirty money into legitimate funds. 

**Multinational companies:** Global companies are also exposed to money laundering since they work with many customers and partners worldwide, and vetting them can be very difficult.

**AML services providers:** Instead of buying AML software, some companies may opt to work with AML services providers. These providers use AML software on behalf of their customers to monitor transactions and alert them when they engage in suspicious activities.

### How to Buy Anti-Money Laundering Software

#### Requirements Gathering (RFI/RFP) for Anti-Money Laundering Software

A requirements list should include all the features mentioned earlier and be customized for the specific needs of each company. For instance, a global company will require advanced features for KYC and access to databases, including suspicious individuals worldwide. 

#### Compare Anti-Money Laundering Software Products

**Create a long list**

The best way to create a long list is to eliminate all products that are not a good choice. For example, a buyer that only wants cloud solutions can eliminate all on-premises options from the list. Also, if the buyer already has GRC software and only needs AML, they can eliminate GRC platforms that include AML features. 

**Create a shortlist**

A short list can be created by eliminating products from the long list based on advanced criteria. An example would be the type of AML regulations covered by the solution. Some focus on US or European regulations, while other solutions provide global coverage.

**Conduct demos**

Demos should be conducted live following a personalized script for each customer. The customer must ensure that the vendors show them what they need, not a generic presentation.

#### Selection of Anti-Money Laundering Software

**Choose a selection team**

The selection team should include compliance officers, members of the IT team, and one or more executives. In addition, the buyer's legal team may need to be involved to ensure that both parties clearly define and understand the terms and conditions.

**Negotiation**

Negotiations are based on the pricing of the software but also on what's included in the package. Services are critical to the buyer to ensure proper configuration and implementation. 

**Final decision**

Compliance officers should make the final decision with the involvement of the IT department.

### What Does Anti-Money Laundering Software Cost?

Besides the cost of software licenses, buyers may need to spend on integration with other software such as accounting and ERP or consulting services. 

Large companies may need 24/7 global support, usually not included in standard pricing. Furthermore, buyers need to understand how they pay to access AML directories._ _

Furthermore, anti-money laundering training may be required to ensure that users are familiar with AML compliance, making them more efficient. 

#### Return on Investment (ROI)

The ROI of AML can be difficult to calculate since it's not easy to quantify the benefits of using this software. For instance, avoiding a contract of $1 million with a suspicious business means that the company saved the amount but at the same time protected the business's reputation, which is difficult to convert into a monetary value. 

### Implementation of Anti-Money Laundering Software

**How is Anti-Money Laundering Software Implemented?**

AML software is implemented by the buyer, vendor, or one of their partners. It is recommended that both the seller and buyer assign a project manager to monitor the implementation process.

**Who is Responsible for Anti-Money Laundering Software Implementation?**

Compliance officers and IT teams share the primary responsibility, but anyone using the AML software is responsible for implementation. Compliance officers must define workflows and processes, user roles, and access rights implemented by IT. Users provide feedback so that their managers and IT can tweak the system to make it more user-friendly while maintaining a high level of security.

**What Does the Implementation Process Look Like for Anti-Money Laundering Software?**

AML implementation should start with migrating the data from legacy systems and other data sources to the new software. The next important step is configuring the solution based on the customer's needs. Finally, training and testing are required before they go live.

**When Should You Implement Anti-Money Laundering Software?**

There is no perfect timing for AML implementations, but it's preferable not to do it during peak activity hours where it can disrupt the company. For instance, shipping companies are usually busy during the holidays, and financial services may experience high activity volumes when customers need to close their books at the end of the year. 

If the buyers also purchase other compliance solutions or regtech software, it is preferable to implement them simultaneously. This will allow the buyer to configure all solutions to seamlessly exchange information and train users that may need to use multiple solutions.

### Anti-Money Laundering Software Trends

**Artificial intelligence (AI)**

AI and machine learning are used more in AML to identify suspicious persons or transactions using complex algorithms that enhance human analysis. 

**Application programming interface (API)**

APIs are critical for connecting AML software with other tools and exchanging data with watch lists. However, in some cases, it is preferable to use APIs to connect with banking systems than it is to develop its functionality. For this reason, AML software developers are likely to use API more and more.