MJP Conveyancing Enhances Anti-Money Laundering Measures with Advanced System Update

Leading national residential conveyancing specialist, MJP Conveyancing, recently announced a significant enhancement to their in-house case management system, QC. 

The upgrade aims to strengthen the company's anti-money laundering (AML) initiatives by introducing an automated evaluation process during client onboarding to assess the initial risk of money laundering.

The improved system utilises electronic identity verification reports and client questionnaire data to generate a set of questions for transaction handlers. 

An algorithm then analyses the responses to determine if the money laundering risk is high, medium, or low, offering a more thorough and consistent risk approach to AML.

David Pett, Director of MJP Conveyancing, expressed his confidence in the enhanced system, emphasising the firm's ongoing investment in technology to provide the best possible service for clients. He added, "This new method will complement our existing AML measures and is designed to ensure all client and transaction risk factors are evaluated and documented during the assessment."

MJP Conveyancing has also broadened the scope of the enhancement by incorporating sale and remortgaging transactions. This decision showcases the company's dedication to detecting fraud across diverse transaction types and further fortifying their overall security measures.

By adopting this sophisticated AML system, MJP Conveyancing demonstrates a proactive approach in combating money laundering and fraud. Their commitment to utilising technology to offer a safer and more efficient experience for clients sets a high benchmark for others in the industry to emulate.