SmartSearch has launched a platform with enhanced functionalities driven by the latest technology and customer feedback.

The platform includes a new interface and updated features including bespoke configurability and automation, improved compliance standards, audit-ready reporting, row-level encryption and strengthened  know-your-customer (KYC).

It identifies people on sanctions such as Politically Exposed Persons (PEP), Special Interest Persons (SIP), Ultimate Beneficial Owners (UBO), and Relatives & Close Associates (RCA).

SmartSearch says the platform carried out more than six million searches for clients during beta testing.

The launch comes following a surge in money-laundering crimes carried out by increasingly sophisticated criminals, the imposition of thousands of new sanctions on Russia after its invasion of Ukraine and a growing number of high-profile breaches, according to SmartSearch.

SmartSearch chief executive Guy Harrison says: “We are thrilled to unveil our enhanced platform. As the go-to solution for AML and risk management, this development sees SmartSearch increase its advantage in the digital compliance solutions market.”