Most UK accounting practices need two different things from AML software: identity verification of the people they deal with, and a client file that shows who the client company is, who controls it, what risk you set and why. Identity verification tools such as FigsFlow, Certivus and Veriphy do the first well, from about £1 to £6 a check. EntityWatch does the second: it writes the due diligence note from Companies House and the sanctions lists, you approve it, and it is free for up to five companies. If most of your clients are limited companies, start with the file.
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Illustration: the left panel is example data. The right panel reproduces the EntityWatch note for Unilever PLC (Companies House 00041424), written on 6 October 2026.
By Martin Nymann, AddonNordic ApS, the company behind EntityWatch. Updated 6 October 2026.
- Which AML software does a UK accounting practice need?
- What does an identity verification tool do, and what does it cost?
- What does a client file tool do, and what does it cost?
- How do the main options compare?
- When is one tool enough?
- What does EntityWatch not do?
- Frequently asked questions
Which AML software does a UK accounting practice need?
You need whatever lets you show your supervisor a complete client file, and for most practices that takes two jobs. Regulation 28 of the Money Laundering Regulations 2017 asks you to identify and verify the customer, to identify the beneficial owner and understand the ownership and control structure where the customer is a company, to understand the purpose of the relationship, and to keep the file up to date.
The first job is proving a person is who they say they are. The second is building and keeping the record of the client company itself. The two overlap on sanctions screening, but they answer different questions.
| Question the supervisor asks | Which job answers it |
|---|---|
| Is this person who they say they are? | Identity verification |
| Who is the client company, and is it still active? | Client file |
| Who owns and controls it, and how did you establish that? | Client file |
| What risk did you set, and why? | Client file |
| Have you kept it up to date? | Client file, with monitoring |
| Are the client or its people on a sanctions or PEP list? | Both |
What does an identity verification tool do, and what does it cost?
An identity verification tool confirms an individual from a document, a selfie or electronic data, and screens that person against sanctions and PEP lists. It is the right tool for sole traders, individual tax clients and the directors you meet.
Pricing is usually per lookup. On their own pricing pages, read on 6 October 2026:
- FigsFlow charges £3 + VAT per ID check, or £2.10 + VAT per check plus £10 + VAT a month with client and firm-wide risk assessments included, with a minimum of 10 credits. Checks include face match, liveness, address verification and sanctions and PEP screening. (FigsFlow pricing)
- Certivus sells plans from £59 a month for 20 checks, or pay as you go at £5.99 for a CDD check, £0.99 for an AML screening on its own and £4.99 for a company registry check with entity screening. Ongoing monitoring is £1.49 a client a year on pay as you go and included on plans. (Certivus pricing)
- Veriphy lists an AML and anti-fraud check from £6.00, a standalone PEP and sanctions screen with monitoring at £1.50, and a UK company check at £9.00. (Veriphy pricing)
All three prices exclude VAT. What a single verification result does not do by itself is explain a company client: who sits behind it, why you rated it the way you did, and what changed since.
What does a client file tool do, and what does it cost?
A client file tool builds the record your supervisor samples: the client company as the register shows it, its owners and officers, the screening, the purpose you were told, a risk class with reasons, and your signed approval. Our guide to the AML client file goes through it section by section.
EntityWatch writes that note from the register in about a minute and a half. For a UK company it reads Companies House: status, legal form, address, officers, former names and the people with significant control, following an ownership chain company by company on the registration numbers the register publishes. It screens the company and its people against the UN, EU, UK Sanctions List (FCDO) and US OFAC lists plus PEP data, and a possible match is named and routed to your review, never recorded as a confirmed hit.
It then proposes a risk class from stated rules. You set the class, write your reason if you deviate, and sign. The signed version goes into the audit trail, and the inspection report shows the file in the order a reviewer reads it.
When the client is listed, the note quotes the register rather than guessing. For Unilever PLC it records Companies House’s own wording: “From 21 May 2018 the company is exempt from the requirement to obtain information of its PSC because it has voting shares admitted to trading on a UK regulated market.”
Pricing is per plan, not per check (pricing):
| Plan | Price | Monitored companies | Due diligence notes |
|---|---|---|---|
| Free | €0 | 5 | 1 a month |
| Monitor | €49 a month | 50 | 1 a month |
| Comply | €149 a month | 250 | Unlimited, with audit trail export |
| Shield | €449 a month | 1,000 | Unlimited, with audit trail export |
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How do the main options compare?
Compare them on the job you need done, not on the length of the feature list. Everything below is taken from each supplier’s pricing page on 6 October 2026. “Not on the pricing page” means the page does not say, not that the supplier lacks it.
| FigsFlow | Certivus | Veriphy | EntityWatch | |
|---|---|---|---|---|
| Identity verification of a person | Yes | Yes | Yes | No |
| Company registry check | Companies House integration | Yes, £4.99 | Yes, £9.00 | Yes, the basis of every note |
| Sanctions and PEP screening | Yes | Yes | Yes | Yes |
| Written due diligence note with risk reasons | Risk assessments on the £10 plan | Risk assessment | Not on the pricing page | Yes, approved and signed by you |
| Ongoing monitoring | Not on the pricing page | Included on plans | PEP and sanctions monitoring | Register and sanctions re-checks |
| How you pay | Per lookup | Plan or pay as you go | Per lookup | Per plan, free for 5 companies |
When is one tool enough?
One tool is enough when your client base leans clearly one way.
- Mostly individuals and sole traders: an identity verification tool covers most of the file. Add a written risk assessment for each client.
- Mostly limited companies: start with the client file. Verify the individuals you rely on with an identity verification tool when your risk assessment calls for it.
- A real mix: use both. The file is what holds the evidence together, and the identity verification is one piece of evidence inside it.
- Few clients and a tight budget: EntityWatch Free covers five companies with one written note a month, and pay-as-you-go tools let you pay only for what you run.
Whichever you choose, the supervisor reads the file, not the software. Our article on what your AML supervisor looks at in a client file shows what a review samples.
What does EntityWatch not do?
EntityWatch does not verify the identity of individuals. It runs no document, selfie or liveness check, no proof of address and no source of funds check, and it has no engagement letters or proposals.
Ownership monitoring is available for the UK only. In Ireland the beneficial ownership register is open to you as a designated person, not to software suppliers, so you record what you find there in the file yourself (coverage). If you need identity verification, pair EntityWatch with one of the tools above.
Frequently asked questions
Do I need AML software at all?
No law requires software. You need a complete, current client file and a risk assessment for each client, and software is one way to produce them consistently.
Is an identity check enough for a limited company client?
Usually not. Regulation 28 also asks you to identify the beneficial owner, understand the ownership and control structure, and record the purpose of the relationship, which verifying one person does not cover.
Can I use two AML tools together?
Yes. Many practices verify people with a pay-as-you-go tool and keep the company file in a separate system. Make sure the file records what was run and when.
Does EntityWatch replace identity verification?
No. EntityWatch reads registers and sanctions lists and writes the company file. It does not check documents or faces.
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This article is general information, not legal advice. Check your supervisor’s guidance for your practice.