{
  "id": 6397433,
  "title": "iCOMPASS Launches Evidence-Backed AML/KYC for Law Firms",
  "url": "https://urgent.news/2026/09/09/icompass-launches-evidence-backed-aml-kyc-for-law-firms",
  "topic": "world",
  "section": "World",
  "published": "2026-09-09T05:05:25.000Z",
  "source": {
    "name": "Arabian Post",
    "slug": "arabian-post",
    "url": "https://thearabianpost.com/icompass-launches-evidence-backed-aml-kyc-for-law-firms/"
  },
  "original_language": "en",
  "account": "iCOMPASS, a Singapore-based RegTech company, has introduced an evidence-backed AML/KYC solution called Evidence-Backed AML/KYC for law firms. This new capability is part of their ULTRA KYC platform and aims to provide law firms with a clearer audit trail and smoother onboarding experience for customers.\n\nThe Evidence-Backed AML/KYC functionality shifts the KYC workflow from a document-first approach to an evidence-linked one. Key customer data, such as source of wealth, beneficial ownership, or address information, can be connected directly to the supporting documents and associated review/approval records. This allows for a more efficient review process and creates a smoother onboarding experience for clients.\n\nThe launch of this new capability comes amid continued regulatory scrutiny on AML/CFT practices in Singapore's legal sector. Reviews following the 2023 money-laundering case have highlighted shortcomings, including inconsistent risk assessments and incomplete enhanced due diligence. Law firms face challenges beyond simply collecting required documents; they must now demonstrate what was verified, what evidence was relied upon, and how the resulting decision was reached.\n\niCOMPASS CEO Raymond Moh emphasized the importance of evidence-backed KYC, stating, \"Law firms don’t need more KYC paperwork — they need better KYC evidence. A strong KYC record should allow someone reviewing the file months or years later to understand what was verified, what evidence was relied upon, and why the firm reached its decision.\"\n\nEvidence-Backed AML/KYC is part of ULTRA KYC's integrated 6-in-1 KYC/AML workflow, which includes onboarding and customer due diligence, screening, risk assessment, approvals, ongoing monitoring, and reassessment. iCOMPASS will showcase the new feature at TechLaw.Fest 2026 on September 9-10 and also present on \"The KYC File Is Not the Answer — Are Law Firms Doing KYC Backwards?\" on the same dates.",
  "summary": "New ULTRA KYC™ capability helps law firms move beyond document collection to evidence-linked customer due diligence SINGAPORE - Media OutReach Newswire - 9 September 2026 - Amid continued scrutiny of anti-money laundering and countering the financing of terrorism (AML/CFT) practices across Singapore's legal sector, iCOMPASS today launched Evidence-Backed AML/KYC , a new capability within ULTRA…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}