Money laundering is a global issue, and South Africa is no exception. An estimated R8 billion is laundered annually in the country, funding illicit activity and placing businesses at risk. That’s why Anti-Money Laundering compliance isn’t just a regulatory checkbox – it’s a vital safeguard for financial institutions.
In South Africa, AML compliance is governed by the Financial Intelligence Centre Act (FICA), which requires institutions to verify customers, track transactions, and report suspicious activity. But navigating these obligations can be complex, especially with fragmented data systems and manual checks slowing things down.
That’s why we’ve added an AML solution to our API marketplace.
What Does AML Compliance Involve?
AML frameworks are designed to detect and prevent the movement of illicit funds. South African institutions are expected to:
- Verify customer identities and assess their risk levels (Customer Due Diligence).
- Monitor transactions, especially for high-risk customers, to spot unusual behaviour.
- Screen against watchlists – including Politically Exposed Persons (PEPs), sanctions lists, and adverse media.
- Report suspicious activity to the Financial Intelligence Centre (FIC).
- Train staff on compliance policies and reporting obligations.
How Gathr Simplifies AML Screening
Gathr’s AML API plugs directly into your existing workflows, making it easy to stay compliant while reducing manual work.
Here’s how it works:
Step 1: Provide personal detail: Enter name, surname, date of birth and location to get an application ID
Step 2: Receive results: Enter application ID, date of birth, name, surname, gender and country code to receive AML results.
Our solution screens customers against global and African watchlists, including:
- Sanctions lists (OFAC, SAM.gov)
- PEPs and close associates
- Negative media and criminal records
- Healthcare, real estate, and financial crime watchlists
All results are compiled into detailed, downloadable reports with risk indicators and recommended actions.
The Benefits of Using Gathr for AML
✔ Centralised Monitoring
Track customer data across multiple sources in real time – no more siloed systems.
✔ Regulatory Compliance
Meet FICA and international requirements with automated, up-to-date validations.
✔ Efficiency at Scale
Speed up onboarding and compliance reviews with scalable API-based automation.
✔ Proactive Risk Detection
Catch red flags early with smart alerts and watchlist tracking.
Go Further with Integrated Compliance
Gathr’s AML module pairs seamlessly with:
- ID Verification: Cross-check against Home Affairs for deceased or marital status.
- Account Ownership Verification: Confirm account holder identity against bank documentation.
- Affordability Checks: Analyse income, expenses, and financial behaviour via bank statements.
- SIM Swap Detection (Contactability): Reduce fraud by identifying changes in mobile number usage.
In an environment where the cost of non-compliance is high, and fraud continues to evolve, Gathr makes it easier to stay ahead. Our AML solution is fast, accurate, and built to keep South African institutions safe and compliant.
