Combating Financial Crime

How we provide ethical and compliant functionality to our customers.

Here at OneBanx we are committed to providing ethical and compliant community banking functionality to our customers and partners.

Every day, criminals are finding new and innovative ways to launder funds and defraud customers, using the financial system to conceal profits gained through illegal activity.

According to the LexisNexis® Risk Solutions 2022 True Cost of Financial Crime Compliance Study - Global Summary, the projected total cost of financial crime compliance across financial institutions worldwide is $274.1 billion.

This crime occurs when criminals attempt to mask their true identity and conceal the origins of illegal profits through layers of complex financial transactions.

We are resolute in our efforts to combat financial crime and constantly evolve our approach to stay one step ahead.


OneBanx places a strong emphasis on compliance and security, leveraging various trusted partners and tools to ensure the highest level of regulatory adherence and customer safety. Here is an overview of how OneBanx uses PassFort, Nuapay, ComplyAdvantage, and Onfido in their compliance strategy:

  1. Nuapay: Nuapay is integral in facilitating secure financial transactions and enabling various banking services. It likely plays a role in payment processing, fund transfers, and transactional compliance, ensuring that all financial activities conducted through OneBanx are secure and compliant with financial regulations.
  2. ComplyAdvantage: ComplyAdvantage is a valuable tool for ongoing AML monitoring as well as transaction risk monitoring. OneBanx uses this platform to screen customers and transactions for potential risks and to identify individuals or entities associated with financial crime. This helps ensure the safety and integrity of their financial services.
  3. Onfido: Onfido is used for robust identity verification and fraud prevention. It enables OneBanx to verify the identities of their customers through document checks and facial recognition, ensuring that only legitimate customers have access to their services. This is essential for compliance with anti-money laundering (AML) and anti-fraud regulations.
  4. PassFort: OneBanx employs PassFort as a key component of their compliance framework. PassFort is  used for KYB (Know Your Business) checks, and customer due diligence. This ensures that individuals and businesses using OneBanx's services are properly identified and meet regulatory requirements.

By utilising these compliance tools and partners, OneBanx demonstrates a commitment to maintaining a secure, trustworthy, and regulatory-compliant banking environment. This approach is crucial in the financial industry, where regulatory adherence and security are of utmost importance to protect customers and the integrity of financial services.


We have dedicated qualified specialists who:

  • Set robust policies and procedures to support the rest of the Group in their day to day activities.
  • Provide ongoing training to all, ensuring knowledge and skills remain up to date.
  • Act as SME providing real-time support and guidance when needed.
  • Monitor activity, both internally to the organisation and externally to understand new trends and methods of facilitating financial crime.

Knowing our customers

As well as good business practice, knowing our customers is a legal requirement in regulated industries:

  • We will take time to verify identity as this helps prevent theft, money laundering, financial fraud, terrorism financing, and other financial crimes.
  • We will monitor transactions to be on the lookout for anything unusual and out of the ordinary.
  • We will continuously check to ensure we are not providing our services to anyone sanctioned or on government watchlists.


We work very closely both with our internal development team and with external third party providers:

  • We constantly review our product roadmap to ensure we are always improving our effectiveness of combating financial crime.
  • We are continuously reviewing the relationships we have with third party suppliers and what additional functionality this gives us in fighting financial crime.
  • We work with law enforcement agencies and, where appropriate, share information to support with gathering intelligence on criminal activity and networks.