AML and KYC Compliance for Notaries
Identify the parties, screen them and keep the file of every deed, without slowing down the signing.
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COX gives a notary office a due diligence file for every party to a deed: identity read from the document, sanctions and PEP screening with a certificate, a risk score and the evidence a regulator asks for, all in one place and ready before the client sits down to sign.
Where compliance hurts
- The parties arrive minutes before signing and the due diligence has to be done on the spot
- Company incorporations and powers of attorney hide who really controls the money
- Property transfers move large sums whose origin nobody documented
- Paper files scattered across protocols make an inspection a week of searching
- A foreign party or a politically exposed person needs enhanced diligence the office cannot improvise
Who is obligated, country by country
Notaries are non-financial obligated entities when they intervene in the acts the law lists: real estate transfers, incorporation and administration of companies, management of funds and similar operations. Each country names it differently.
Panama
Law 23 of 2015 places notaries among the professionals supervised for specific activities, under the Superintendency of Non-Financial Subjects.
Mexico
The LFPIORPI treats the services of public faith as a vulnerable activity: the notary identifies the parties and files notices with the SAT above the thresholds in force.
Colombia
The Superintendency of Notaries and Registry requires notary offices to keep a prevention system for money laundering and terrorism financing.
Guatemala
The IVE registers the persons who perform designated non-financial activities, notaries among them, under the law against money laundering.
Dominican Republic
Law 155-17 lists lawyers, notaries and accountants as obligated entities when they carry out the operations it describes.
Venezuela
Registries and notaries apply the prevention obligations of the organic law against organized crime and terrorism financing.
Thresholds and reporting deadlines change: the platform reads the ones in force for your company's regime. Confirm your status with your regulator.
Why they choose COX
Ready before the signing
The party receives a link, uploads the document and the file is built while the deed is being drafted. Screening takes seconds.
Beneficial owners in the file
For a company party you record shareholders, directors and the natural person who controls it, with the threshold your regime sets.
One file per protocol
Every search, document and decision stays with the deed it belongs to. An inspection is a search, not a week.
How It Works
Three steps from a new customer to a documented file
Collect
Send the customer a secure onboarding link. They upload their identity document, proof of address and source of funds from any device, and the platform reads the document for them.
- Document reading and prefill
- Selfie and liveness check
- Beneficial owner declaration
Verify
Sanctions, PEP and restrictive lists are searched at once, adverse media on request, and the risk matrix scores the customer with the weights your policy sets.
- Sanctions, PEP and watchlists
- Risk matrix by country and activity
- Enhanced due diligence when required
Document
Every search, decision and document stays in the file with its date and author. Print the due diligence report or the screening certificate when the regulator asks.
- Immutable audit trail
- Sealed PDF reports
- Renewal reminders
Red flags the file has to document
- A buyer who pays a property in cash or through third parties with no relation to the deed
- Companies incorporated in series with the same nominee directors
- A power of attorney that hands full control of assets to someone who just appeared
- A price well below the market value of the property
- A party who refuses to explain the origin of the funds or to identify the beneficial owner
What the platform gives you
Everything a non-financial obligated entity needs, without a compliance department
Identity verification
Documents read automatically, selfie with liveness check and the data proposed for the officer to confirm.
List screening
Sanctions, PEP, restrictive and open-data lists, with a certificate that says which edition of each list was consulted.
Risk matrix
Country, activity, product, channel and PEP status weighted the way your manual says, with the result explained.
Adverse media
News about the customer ranked by how surely it names the same person, never a list of homonyms.
Due diligence files
Natural and legal persons, beneficial owners, related parties, documents with expiry dates and renewal alerts.
Reports for the regulator
Due diligence report, screening certificate and training records, each sealed with a verifiable fingerprint.
Built for
Notaries public
The office responsible for the deed and its file
Clerks and assistants
Who prepares the file before the signing
Law offices
Firms that draft the deeds the notary authorizes
Registry agents
Who incorporates and administers companies
Frequently asked questions
Ready for the next signing
Open your notary office on COX and build the first file today.
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COX also serves:
Law firms Accountants Real estate agents Vehicle dealers Jewelers Pawnshops Free zones