Money Laundering Compliance

Posted by tanyahushe47 on June 25th, 2015

AML dashboard:

AML360 provides compliance management for the assessment, monitoring, control and reviewing of the risks. For compliance managers it is made easy through compliance portal to:

1. Create as well as maintain risk management data
2. Comply with group policies
3. Collaborate processes across branches
4. Provide succinct reporting

Risk and Compliance:

In order to match the Governance, Risk and Compliance (GRC) initiative, organizations used to design template reports. The whole GRC information has been represented in common, rating, normalized scaling and scoring mechanism.

Simplified:

To simplify the compliance monitoring through reducing human resourcing costs with no compromise on quality is said to be the key objective of the risk management system. AML software is used to help supervisors in order to adopt an efficient and effective risk based supervision model to anti-money laundering as well as countering financing of terrorism.

AML360 is also very helpful in order to assess country risk, typology analysis or thematic reviews, industry and sector profiles.

Reduce resourcing:

You can reduce the errors reports via simple Select and Click action for the end users. In order to profile data in risk categories as well as into the categories of Key Risk Indicators, Dashboard includes preconfigured filtering tools. Human resources commitment is saved with the help of automated visual display of the key data.

Tailored:

Reporting entities are allowed by templates in order to communicate each aspect unique to their operations. This provides the supervisors with more insight in to implication of a risk profile. The data is used to be highlighted in register against entity’s exclusive and unique identification.

Organized crime:

The organized criminal groups search in order to place funds in the countries operating with a weak infrastructure of financial compliance. Effectively measuring Money Laundering Compliance and risks across a finance industry enhance the likelihood to detect international as well as domestic crime syndicates.

Advice & Outreach:

In order to ensure the industry regulatory obligations, outreach has been proved a proactive way. AML360 dashboard used to assist the supervisors in order to build ongoing and constructive relations with industry participants.

Results driven:

Results from the reports are said to be profiled automatically into the categories that has impact on objectives and regulatory policy. To determine future visits, monitoring activities and outreach activities as well this simplified display of data is very useful.

Monitoring outcomes:

AML compliance software allows a simple and confidential two way communication between reporting entities and their supervisors. It is also helpful in transaction monitoring.