Entities
Understand the entities in AML context
What are Entities in AML Context?
In the context of Anti-Money Laundering (AML), entities refer to individuals, companies, or organizations that are subject to AML regulations. These entities can be either natural persons (e.g. individuals) or legal persons (e.g. companies). Ambriel's AML solution scans over 120 sources and continuously improves to provide the most accurate and up-to-date information.
Types of Entities
Politically Exposed Persons (PEP)
PEPs are individuals who hold or have held prominent public offices, such as heads of state, government officials, politicians, or high-ranking military officers. PEPs are considered high-risk due to their potential exposure to corruption and bribery.
Sanctions Lists
Sanctions lists are compiled by governments and international organizations to identify individuals, companies, and organizations that are subject to economic sanctions. These sanctions can be imposed due to various reasons, such as supporting terrorism, human rights violations, or nuclear proliferation.
Crime Lists
Crime lists are databases of individuals and companies that have been convicted of or are suspected of committing crimes, such as fraud, money laundering, or organized crime.
Watch Lists
Watch lists are databases of individuals and companies that are under surveillance by law enforcement or other authorities. These lists are used to identify and monitor potential security threats, such as terrorists, organized crime groups, or individuals with a history of fraudulent activities. Watch lists can be used to flag suspicious transactions, prevent fraud, and protect against potential security threats.
Why are Entities Important in AML?
Entities play a crucial role in AML as they can be used to conceal illegal activities, such as money laundering and terrorist financing. Therefore, it is essential to identify and monitor entities to prevent illegal activities and ensure compliance with AML regulations.
How Can You Use Ambriel's Entities Feature?
Ambriel's Entities feature allows you to screen entities against PEP, sanctions, and crime lists in real-time. You can use this feature to:
- Verify the identity of customers and suppliers
- Check for potential AML risks
- Monitor transactions and activities
- Comply with AML regulations
How to create an Entity?
Login to dashboard
Go to Aml > Entities
Click on "Create Entity"
Check out Create an EntityAPI example.
Entity Fields
The following table shows the fields that are required to create an entity.
| Field Name | Description | Required |
|---|---|---|
| entityId | Unique identifier for the entity | |
| schema | The schema of the entity | |
| name | The name of the entity | |
| phone | Phone number of the entity | |
| address | Address of the entity | |
| Email address of the entity | ||
| country | Country of the entity | |
| state | State of the entity (if natural person) | |
| city | City of the entity | |
| dob | Date of birth of the entity | |
| monitor | Monitor the entity for AML risks |