Strengthen your AML Processes with MiExact Mortality Data

MiExact provides industry-leading mortality data that enables organisations to detect and remove deceased individuals from their records, preventing fraudulent activity and ensuring compliance with AML regulations.

Money laundering and financial fraud pose significant risks to businesses, regulators, and financial institutions. One crucial yet often overlooked aspect of Anti-Money Laundering (AML) compliance is the identification of deceased individuals within customer databases. Fraudsters frequently exploit the identities of deceased persons to open accounts, conduct transactions, and launder illicit funds.

How Does MiExact Mortality Data Support AML Processes?

Verify Customer Identities

MiExact’s mortality data allows you to confirm whether an individual is deceased, helping you spot fraudulent activities during onboarding or ongoing account monitoring. This is especially useful for identifying stolen or misused identities.

Monitor Suspicious Transactions

Fraudsters often exploit deceased identities to hide or transfer illicit funds. Cross-referencing transactions with mortality data enables your organisation to flag and investigate suspicious activity linked to deceased individuals.

Ensure Compliance with AML Regulations

Using accurate mortality data ensures your organisation meets AML requirements by verifying the legitimacy of customer identities and transactions. This protects your business from potential penalties and reputational damage caused by non-compliance.

Sectors That Benefit from MiExact Mortality Data for AML Compliance:

Banking & Financial Services

High Street & Challenger Banks use MiExact's Halo^TM file to verify customer identities, prevent fraudulent account takeovers, and enhance due diligence.
Payment Service Providers & Fintech Firms ensure compliance with UK AML laws by using Halo^TM to detect deceased account holders and prevent unauthorised transactions.

Insurance & Pensions

Life Insurance Companies are able to prevent fraudulent claims and unauthorised access to deceased policyholders' accounts using the Halo^TM file
Pension Funds & Investment Firms verify beneficiary status and prevent ongoing payments to deceased individuals

Property & Estate Management

Estate Agents & Letting Agencies ensure property transactions are conducted with legitimate owners and prevent fraud involving deceased identities by checking against the MiExact Halo^TM database.

Government & Public Sector

HMRC & Tax Authorities can detect fraudulent tax returns or financial activities using deceased individuals’ identities using MiExact's Halo^TM file.
Local Councils & Social Security Services can prevent fraudulent benefit claims involving deceased recipients.

Gambling & Gaming

Online Casinos & Betting Platforms are able to strengthen KYC and AML controls by using Halo^TM to identify deceased users who may be exploited.

Why Choose MiExact Data for UK AML Compliance?

Comprehensive and Accurate Data: Around 10,000 new death notifications are added to our Halo^TM file each week, with most of these deaths having taken place in the previous two weeks
Seamless Integration: Incorporate MiExact data into your existing AML systems and compliance workflows.
Trusted & Verified Sources: Our UK-specific data is sourced from probate records, funeral directors, financial institutions, registrars, and a national consumer notification service.
Expert Knowledge and Customer Service: Our highly experienced team have been providing a dedicated data support service for all clients for over 30 years and aim to respond to all queries within 24 hours.

Take the Next Step

Protect your business from financial crime and regulatory penalties by incorporating MiExact mortality data into your AML processes.