How is outsourcing (AML on Demand) priced ?
$50 per matter plus standard KYC and KYB verification at your subscription tier's rates; the matter fee covers easyAML's case-management time, the per-check fees cover the searches.
$50 per matter standard KYC and KYB verification costs at your subscription tier plan's rates (eg on Starter plan $20 per KYC + $40 per KYB). The matter fee covers the easyAML team's case-management time; the KYC and KYB fees cover the underlying verification searches.
Worked example (Starter tier): company with 2 directors, 3 additional shareholders:
- Component: Matter fee; Calculation: $50; Subtotal: $50
- Component: KYC (5 individuals: 2 directors, 3 shareholders); Calculation: 5 × $20; Subtotal: $100
- Component: KYB (1 company); Calculation: 1 × $40; Subtotal: $40
- Component: Total; Subtotal: $190
The Tier 2 / Tier 3 country list for additional offshore checks is included in the agreement for transparency, with 30 days' notice of changes. Offshore-resident individuals KYC checks are at the standard rate.
Costs can be passed on to buyer/seller as a transparent disbursement - many firms include it as a line item in their engagement terms or invoice. easyAML provides template cost-disclosure language for firms wanting to use this approach (see Section 17).
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- Does easyAML offer fully outsourced CDD?
- Will subscribers be able to disburse KYC/KYB costs to end clients?
- Does the outsource option mean the firm is no longer the reporting entity?
- For a 3-director company each with 33% shareholding buying property, how many checks would be needed?