I Tested the Best Anti-Money Laundering Software—Here’s What I Found

A friend of mine works at a fintech company. One day, they received an unexpected audit request tied to suspicious transactions flagged by regulators. The compliance team scrambled to gather data, digging through spreadsheets, emails, and fragmented systems. It was chaotic. And worse, they missed key details that resulted in fines.

Watching that situation unfold made me wonder how companies stay ahead of financial crimes when manual processes can’t keep up.

That’s when I started exploring anti-money laundering (AML) software. I researched top platforms, analyzed features like transaction monitoring, customer due diligence, and real-time alerts, and compared how each tool helps businesses meet compliance requirements while reducing risk.

I’ll share the best anti money laundering software solutions I found. Tools that don’t just check regulatory boxes but actively help prevent financial crime.

5 best anti money laundering software I’d recommend

Managing anti money laundering compliance isn’t just about identifying suspicious transactions. It’s about ensuring every operational detail behind the scenes runs seamlessly. Monitoring transactions, managing customer data, ensuring regulatory reporting accuracy, and maintaining clear audit trails.

Imagine this: Would you rather scramble to compile data for a last-minute regulatory audit or have everything organized and accessible with just a few clicks? That’s the difference between manual processes and using AML software. The right software helps compliance teams shift from reactive firefighting to proactive risk management, ensuring nothing slips through the cracks.

It’s not just about making compliance tasks easier; it’s about creating a system that strengthens your entire financial crime prevention framework.

What makes the best anti money laundering software  worth it: My perspective

After spending weeks researching and testing different anti money laundering software, I discovered that not all tools are created equal. Some stand out because they genuinely enhance how effectively businesses detect suspicious activities and manage compliance.

If you’re looking for the best anti money laundering software, here’s what to keep in mind:

• Transaction monitoring: I need to detect suspicious activities as they happen. This means the software should offer real-time monitoring capabilities that can flag transactions immediately. I look for the ability to set customizable thresholds based on my business's specific risk profile, allowing me to fine-tune alerts for both high-risk activities and patterns that may indicate complex money laundering schemes. Effective pattern recognition is crucial, as it helps identify not just individual suspicious transactions but also broader behavioral trends that could signify illicit activities over time.
• Customer due diligence (CDD) & know your customer (KYC): I rely on automated checks against global databases to verify customer identities quickly and accurately. This includes screening against watchlists, sanctions databases, and politically exposed persons (PEP) lists. Beyond identity verification, I assess customer risk based on factors such as behavior, geography, and transaction history. For high-risk individuals and entities, I conduct enhanced due diligence (EDD), which involves deeper investigations and continuous monitoring to detect any changes in risk status over time.
• Sanctions & watchlist screening: I screen against comprehensive sanctions lists, including those from the Office of Foreign Assets Control (OFAC), the United Nations (UN), the European Union (EU), and other regulatory bodies. Additionally, I monitor for adverse media reports that could signal potential risks. To maintain accuracy, it’s essential that the software provides real-time updates, ensuring that my compliance checks reflect the most current information available. This reduces the likelihood of inadvertently engaging with sanctioned parties or high-risk entities.
• Risk assessment & management: I adjust risk scores dynamically based on evolving behaviors, transaction patterns, and external risk factors. The software should support flexible risk models that can adapt to new threats and regulatory changes. Automated risk categorization helps streamline the process of classifying clients and transactions, allowing me to focus more on high-priority cases while ensuring comprehensive coverage across all activities.
• Artificial intelligence (AI) & machine learning (ML): I rely on AI-driven tools to spot hidden patterns and reduce false positives, which can overwhelm compliance teams if not managed effectively. Advanced anomaly detection algorithms help identify subtle indicators of potential financial crime that traditional rule-based systems might miss. Continuous learning capabilities are equally important, allowing the software to improve detection accuracy over time based on new data and feedback from past investigations.
• Integration capabilities: I seamlessly connect AML software with existing systems, such as customer relationship management (CRM), enterprise resource planning (ERP), and core banking platforms. Robust API support is key to enabling real-time data sharing and process automation across different business functions. Additionally, the ability to import and export large data sets efficiently helps manage complex compliance requirements and supports data-driven decision-making.

Over the course of several weeks, I researched and tried more than 20 best anti money laundering software programs. I narrowed down the best 5 based on their features and ease of use. 

To be included in this category, a solution must:

• Use intelligent algorithms for fraud detection and risk management
• Include watch lists of suspicious individuals and organizations
• Allow users to assign scores based on risk potential and history
• Deliver standard AML documents and reports for compliance purposes
• Provide behavior models to detect suspicious individuals or companies
• Offer dashboards with real-time data to immediately identify potential risks

*This data was pulled from G2 in 2025. Some reviews may have been edited for clarity.  

1. iDenfy

You know how tedious and nerve-wracking it can be to ensure compliance with AML regulations and keep fraud at bay? Well, iDenfy pretty much takes that stress off your plate.

One of the standout features for me is the built-in AML checks. It automatically screens users against global watchlists, which means we're always compliant without having to manually cross-reference anything. The system is smart enough to adapt its verification steps based on the user or the specific situation. This flexibility is invaluable, especially when dealing with diverse customer profiles.

Fraud prevention is another area where iDenfy shines. The automated system catches suspicious activities that we wouldn't have spotted on our own. It does all the heavy lifting. Real-time monitoring, spotting fake documents, and even handling detailed audit logs for disputes. This has drastically reduced payment fraud incidents on our end and the best part? It doesn’t slow down the verification process. In fact, the ID checks are impressively fast.

I also appreciate how user-friendly the platform is. There's this perfect balance between advanced technology and intuitive design. Customers love how quick and seamless the selfie verification process is, and our team finds the dashboard easy to navigate. Plus, having detailed audit logs has been a lifesaver during compliance checks and dispute resolutions.

There are a few areas where iDenfy could improve. Bulk verification capabilities would save a lot of time, especially when dealing with large datasets. And while the customization options for notifications are decent, having more granular control would be a bonus.

Overall, iDenfy is a robust, reliable, and efficient tool that simplifies KYC (Know Your Customer) and AML compliance while keeping fraud in check. 

What I dislike about iDenfy:

• I find the customization options for notifications a bit limited. More granular control would definitely be useful.
• I find the tool to be slightly on the expensive side. Lower-cost models would be helpful. 

What G2 users dislike about iDenfy:

"Being able to customize notifications based on specific events or risk levels, and choose different delivery methods (e.g., email, SMS, Slack), would be very useful."

- iDenfy Review, Ariana V. 

2. Sumsub

Sumsub is a pretty solid tool, especially if you're dealing with KYC processes, AML, identity verification, and compliance checks. What really stands out is its user-friendly interface. The dashboard is clean and intuitive, making it super easy to navigate through various features without feeling overwhelmed. I especially love the simple UI/UX and the smooth verification flow. It genuinely simplifies what could otherwise be a complicated process. However, while trying to use the advanced features, it can be a steep learning curve. 

One of the key things I appreciate about Sumsub is its robust protection against fraud and forgery. It even has an internal block list feature, which adds an extra layer of security. The icons for each verification section are thoughtfully designed, giving you a quick visual understanding of where things stand.

It packs a lot of functionality relevant to businesses that need to handle customer data securely. The seamless integration capabilities are a game-changer. You can hook it up with your existing systems effortlessly, and it plays well with other tools, making the whole compliance workflow more efficient.

The sheer number of options can be overwhelming, especially when you’re trying to pinpoint the right feature for your specific needs. It’d be great if there were more flexibility in tailoring the verification process to fit unique business requirements.

The website occasionally slows down, and there have been moments when it was temporarily down. It’s not a dealbreaker, but it can be frustrating when you’re in the middle of something important.

The platform is continuously evolving. They’re always adding new features and improving existing ones, which shows they’re committed to growth and customer satisfaction.

All in all, Sumsub is a reliable, efficient tool for businesses looking to streamline their KYC and compliance processes. 

What I dislike about Sumsub:

• I felt that the customer support was sometimes slow to respond to my queries.
• The advanced features can have a steep learning curve initially. Once I was able to learn how to use the features, it became easier. 

What G2 users dislike about Sumsub:

"SumSub’s advanced features can have a steep learning curve initially, and its pricing may feel high for smaller businesses or startups with limited budgets"

- Sumsub Review, Marinus N. 

3. Pirani

When it comes to managing risks and ensuring compliance with anti money laundering regulations, I rely on Pirani. It's more than just a tool, it's my go-to solution for centralizing and streamlining risk management processes with ease and efficiency.

What I love most about Pirani is how effortlessly it organizes risks by processes. This clear structure helps me identify potential vulnerabilities and address them proactively. The platform allows me to manage risk associations and relationships in a practical way, making the entire process intuitive and less time-consuming.

Flexibility is key for me, and Pirani delivers. I can easily configure risk assessments to fit the unique needs of my organization. Whether it's evaluating inherent or residual risks, Pirani gives me the tools to rate and analyze them accurately. Plus, the centralization of risk management tasks means I have everything I need in one place, reducing the hassle of juggling multiple systems.

One area where Pirani truly excels is its detailed reporting capabilities. Many users, including myself, appreciate the depth of analysis provided, making it easier to extract meaningful insights. The ability to generate comprehensive reports significantly enhances decision-making and risk management strategies.

Pirani isn't just about compliance; it's about empowering me to manage risks confidently, helping me stay ahead in the ever-evolving landscape of risk and AML compliance.

What I dislike about Pirani:

• I found that the free version doesn't offer too many features. You'd have to upgrate to the basic or advanced plans to make complete use of the product. 
• It can be quite expensive if you're starting out and have a small business.

What G2 users dislike about Pirani:

"We have observed that in some cases, the generated reports are not complete or do not contain the expected information. We consider it important to strengthen this functionality to improve the user experience and quality of the product."

- Pirani Review, verified Pirani user. 

4. Ondato

I've had the chance to use Ondato for a while now. If you're into ensuring airtight compliance with KYC and AML regulations, this tool might just be your new best friend.

What stood out to me right off the bat was Ondato’s user-friendly interface. It’s intuitive and makes navigating through complex compliance tasks feel less like a chore and more like a streamlined process. I especially appreciate how it simplifies onboarding. The platform manages to cut down what usually feels like an endless administrative process into something swift and efficient. You can tell that the automation features are doing some heavy lifting in the background, handling data verification and monitoring with impressive speed.

Speaking of automation, Ondato's real-time identity verification is a game changer. It’s thorough, accurate, and integrates smoothly with existing systems. I noticed how it cross-checks data efficiently, maintaining a high standard of security without slowing things down. The compliance monitoring tools are robust, offering detailed reports and alerts that help keep everything in check.

While the system is efficient, there’s room for improvement in terms of customization. Some features feel a bit rigid, making it tricky to tailor them to very specific business needs.

The onboarding system is seamless, and the compliance tracking is both comprehensive and easy to manage.

What I dislike about Ondato:

• Occasionally, the system feels a bit slow when handling large datasets. It’s not a dealbreaker, but it does interrupt the workflow sometimes.
• The initial setup took a little bit longer than anticipated for me to complete. But things have been running rather efficiently since.

What G2 users dislike about Ondato:

"However, the platform isn’t without its drawbacks. Sometimes we get a few bugs that delays the response time. While this hasn’t significantly affected operations, it’s an area that could use improvement."

- Ondato Review, Michael R.

5. Onfido

If you’re into digital identity verification and AML, you’re probably looking for something that’s secure, fast, and easy to integrate. Onfido checks most of those boxes.

Let’s start with what I love about it. The biometric model is pretty impressive. It’s designed to prevent fraud effectively, and I’ve found it to be spot-on in verifying identities without being intrusive. The seamless API integration makes it super easy to plug into existing systems, especially if you’re managing digital onboarding journeys for something like banking apps. The API is not just fast, but the control panel features are intuitive, giving clear KYC reports that make compliance checks a breeze.

Speaking of compliance, Onfido really shines in ensuring your processes are airtight. The automation is smart, and what’s cool is that it blends automation with human intervention when needed. This hybrid approach means you get both speed and accuracy. It's kind of like having your cake and eating it, too. Plus, their continuous improvements based on new technologies show they’re serious about staying ahead in the game.

One thing that’s been a bit of a pain is the dashboard. I would like some more insights from the dashboard. I’ve also noticed that while the service is robust, it can get costly, especially as your volume grows. So, if you’re scaling fast, that’s something to keep in mind.

Sometimes, you just have to wait for the results and customer support, and in a world where instant is the new norm, that can be a tad difficult.

Overall, though, Onfido is reliable, secure, and keeps evolving. 

What I dislike about Onfido:

• I felt that the reporting dashboard does not offer the level of granularity required. It could be more comprehensive. 
• Sometimes, I found there was a delayed response from the support team. 

What G2 users dislike about Onfido:

"The only thing that is to mention here would be that it might generate some false positives from time to time."

- Onfido Review, verified Onfido user. 

Frequently asked questions about the best anti money laundering software

Have more questions? Find more answers below.

1. How does anti-money laundering software work?

AML software analyzes financial transactions in real time, flags suspicious activities based on pre-set rules or AI-driven models, and generates alerts for compliance teams to review. It also helps with identity verification, risk scoring, and regulatory reporting.

2. How much does AML software cost?

Pricing varies based on features, the size of your organization, and the vendor. Some charge per user, per transaction volume, or offer subscription-based models. Costs can range from a few hundred to several thousand dollars per month.

3. How is AI used in anti-money laundering software?

AI and machine learning enhance AML software by identifying complex patterns, reducing false positives, and improving the accuracy of suspicious activity detection. AI can also adapt to evolving money laundering tactics, making compliance more proactive. 

4. How to get an anti-money laundering certificate? 

To get an Anti-Money Laundering (AML) certificate, you need to enrol in a recognized certification program such as the Certified Anti-Money Laundering Specialist (CAMS) by ACAMS, the Certified Financial Crime Specialist (CFCS) by ACFCS, or the ICA International Diploma in Anti Money Laundering. The process typically involves meeting eligibility requirements (like relevant work experience or education), completing training courses, and passing an exam that tests your knowledge of AML regulations, compliance practices, and risk management. After certification, maintaining it often requires continuing education to stay updated with evolving AML laws. 

5. Is AML software necessary for small businesses?

If your business operates in a regulated industry or handles high-risk transactions, AML software may be required. Even small businesses in finance, real estate, or legal services can benefit from automated compliance processes to reduce risk and avoid penalties.

Catch red flags before they cost you

Thinking back to the compliance crisis that sparked my interest in AML software, I can’t help but appreciate how the right tools can transform the way businesses manage financial risks. After testing some of the best AML solutions, I’ve seen firsthand how powerful software can simplify complex processes—whether it’s detecting suspicious transactions, automating regulatory reporting, or enhancing customer due diligence.

Not all AML software is built the same. Some excel at real-time transaction monitoring, others shine in risk assessment and reporting automation, while some are designed for seamless integration with existing systems. The best choice depends on your specific compliance needs, industry regulations, and operational workflows.

Whether you’re a small business navigating regulatory demands or a large financial institution dealing with high-risk transactions, the right AML tool can help you stay compliant, reduce risks, and protect your business. Staying ahead of financial crime starts with the right technology.

If you’re looking to enhance risk management beyond AML, exploring the best Enterprise Risk Management (ERM) software can help streamline processes and strengthen your compliance strategy.