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Search engines are free, easy to use and powerful. Could you use them to run a KYC/AML screening program? You could – but in the end, it will expose you to significantly more cost and risk than opting for a purpose-build solution. Here are eight reasons why.
1. Data from Search Engines is Unstructured
Search engines return stories and URL links, when what you ideally need are consolidated profiles, with secondary identifiers such as age, location and connections organized for easy review. Sometimes, you’ll need content from multiple stories to make an onboarding decision.
2. Search is Inefficient
First, you get pages and pages of results, many of which are not relevant. Second, there’s a lot of duplication, since high-priority
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