Accelerate your AML compliance.
Criminals have weaponized AI/Machine learning to breach conventional AML detection tools. As such financial institutions, casinos, or money service businesses should not look at financial crime from a solely regulatory perspective. With the rise of quicker payments and more sophisticated money laundering schemes, there are sizable challenges in detecting and preventing money laundering targeted at their customers and themselves. In addition, the current ever-changing environment is creating the need for the addition of more rules and the need to change thresholds of old rules. The conflicting part is every institution have specific rules and thresholds that applies to them but not to others. Therefore, is it a manual process to both add new rules and changes thresholds which often include contacting the vendor to do it. This whole process is tedious and costly. With AML Evidence Lake™ , this issue is addressed.
AML Evidence Lake™ Features
Multi-year evidence retention in a single
financial crimes platform
AML Evidence Lake™ Benefits
Multi-Channel Link Analysis
Uses graph database to gives a 360 view of all the data connected to the subject to further help analysts with the investigation.
Instant Validation with Simulation
Be at ease when making any changes to the Smart Rules as the changes can be validated immediately with an Alert Simulation showing the Manager what alert would have been generated in a given time frame if the changes were made in the past.
Monitors All Types of Watchlists
Upload any type of watchlist into AML Evidence Lake and it will be scanned across your customer base and transactions counterparty generating alerts for Analyst to work on. This can include 314A or any custom list provided.
One Click FinCEN VPN E-filing
All the data in the alert and case will automatically be pre-populated in the SAR and CTR forms to save Analyst time from entering the field one by one and prevent potential human error. Additionally, extra validation is added so that no SARs or CTRs will be filed to FinCEN with warnings or fatal errors to give the Manager and Analyst the peace of mind.