Problem Statement
Create a central customer screening system that analyses and makes decisions based on the alerts generated within the system for various Watch-list categories (PEP, RCA, Sanctions, Trade Control, etc.).
Identify and protect the institution from any transactions fraud that may lead to money laundering or terrorist financing, and result in the institution filing relevant Suspicious Transaction Reports (STRs) to FIU-India.
Value Proposition
Key Elements of AML Solution covers all processes including –
- Various Money Laundering Scenarios Configuration
- Suspicious Transaction Monitoring Processing
- Customer Transaction Behaviour Fraud Identification
- Customer Screening Due Diligence
- Investigation & Case Management
- STR Reporting as per FIU-India Guidelines
Solution Strategy
Customer Screening
- •Onboarding /Existing Customer Screening & Watchlists
- •DWJN Watchlist Data Maintenance
Transaction Monitoring
- •Identifying the Money Laundering Transactions
- •Red Flags the transactions
- •Rule-based Transaction Monitoring
Alert Generation Process
- •Rule-based Alert Generation Process
- •Alert Management Workflow
- •Facility of E-File, STR Reporting