Callcredit helps Pi Financial prevent money laundering with contract extension

Financial advisers, Pi Financial is continuing to step up its fight against money laundering and has extended its contract with money laundering prevention experts Callcredit Information Group.

The contract extension means Pi Financial will continue to have robust software in place to help protect its business against financial risks and financial crime. Callcredit’s e-verification solution CallML helps the financial adviser to verify and identify its clients as well as better identify any suspicious transactions. 

Callcredit has been helping Pi Financial since 2012 to protect itself from potential money launderers who may look to abuse its professional services since 2012.  In that time the practice has been able to access a range of independent data sources to perform reliable identity checks against the full electoral roll as well as having insight into an individual’s financial commitments.

Tim Sutcliffe, Managing Director, Pi Financial said: “We are pleased to be continuing our relationship with Callcredit. The insight that we’re able to receive from Callcredit’s robust anti-money laundering (AML) solution provides us far more detail on our clients than any hard copy passport or proof of address documentation could.  One quick online check provides us with the confidence we need to not only know we are complying with AML regulations but also protecting our practices from the financial risks that are prevalent in the industry.”

Peter Mansfield, Managing Director, Callcredit Ltd said: “Over the last two years money laundering has increased over 300 per cent in the UK alone, from £70m in 2012, to £288 million in 2013.  Criminals will always be looking at ways they can take advantage of businesses for their financial gain and we are here to help practices, like Pi Financial, have the right tools in place to prevent this from happening. It has been a pleasure to work with Pi Financial and we look forward to continuing our work with them.”