Anti-Money Laundering (AML)

Anti-money laundering (AML) refers to a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions.
To prevent banks and financial institutions from providing services to unsuitable persons or entities, Anti-money laundering (AML) Solutions can detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation
It includes transaction monitoring, sanctions screening, and blacklist screenings.

Name Checking

To monitor the financial activities which appear to be unusual or suspicious, TM solution help monitor customers’ historical transaction on a daily basis and account profile with a “whole picture” analysis of a customer’s profile, risk levels, and predicted future activity.
It also includes generating reports and creating alerts to suspicious activity for further examination and investigation.

Transaction Monitoring

To prevent high-risk customers of being used as a channel for money laundering or terrorist financing purposes, NC Solution can help to determine whether any of the bank’s existing or potential customers are part of any blacklists or regulatory lists by
screening customer name from the PEP, terrorist lists loaded from data provider, such as World-Check, Factiva as well as some internally maintained watch-lists entries.

Comments are closed.