AML software for trust and company service providers
AML software for trust and company service providers should handle complex entity onboarding, beneficial ownership, controllers, trust roles, source-of-wealth evidence, screening review, risk rating, approvals, and ongoing monitoring. TCSP workflows are rarely simple individual onboarding flows.
Why TCSP AML workflows are complex
Trust and company service providers often work with companies, trusts, foundations, nominee arrangements, directors, shareholders, protectors, settlors, beneficiaries, and cross-border structures. The AML workflow needs to show who is behind the relationship and how the firm reached that conclusion.
What TCSP software should support
Capability | Why it matters
Entity graph | Captures companies, trusts, related entities, controllers, and natural persons.
Beneficial ownership | Links ownership and control assertions to evidence.
Source of wealth | Records explanations, documents, reviewer notes, and escalation outcomes.
Screening | Reviews customers, beneficial owners, controllers, and related parties.
Monitoring | Handles periodic review and event-driven refresh.
Evidence and monitoring
TCSP files should remain alive after onboarding. Directors change, ownership changes, trust parties change, and risk information changes. Software should trigger targeted refresh workflows and preserve the history of earlier decisions.
Veraxa supports TCSP workflows across offshore and FATF-aligned operating models. See AML workflows for TCSPs, offshore AML compliance software, and beneficial ownership software.
Frequently asked questions
What is AML software for trust and company service providers?
It is software that helps TCSPs manage onboarding, ownership review, risk rating, screening, approvals, monitoring, and audit evidence.
What makes TCSP AML different?
TCSPs often manage layered structures, trusts, nominees, cross-border entities, and ongoing changes that require stronger evidence workflows.
Should TCSP software include beneficial ownership?
Yes. Beneficial ownership and control review are central to TCSP AML workflows.