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If you operate in regulated markets, including financial services and related sectors such as legal services and estate agency, you are required to perform Know Your Customer checks as part of Anti-Money Laundering compliance. Of course, the requirement to comply doesn’t change, no matter what size your organisation, although the depth of the processes which you introduce may vary depending on the nature of your business and your likely risk profile.

Two related common questions arise: how can small businesses ensure compliance with AML regulations without a large team or substantial budget, and whether to choose traditional manual verification methods or automated ones.

Manual KYC procedures, still used by many SMEs, tend to be time-consuming, prone to inconsistencies, and may rely on outdated information. We recommend adopting modern technology such as Enforcio, a straightforward and affordable way to carry out KYC checks online, no matter what size your organisation is. Using our client onboarding solution you can save over 80% of time when compared to a manual process.