Money laundering activities are becoming more sophisticated from year to year, making their prevention and monitoring more difficult. Given the increased monitoring and the need for rapid, accurate and timely reporting of such transactions and their timely prevention, the need for the introduction and active use of software systems to prevent money laundering or AML (anti-money laundering) systems is obvious.
Anti-money laundering (Asseco AML) is a solution that enables the institutions obliged to comply with the provisions of the law on money laundering and the financing of terrorism. The basic function of the system consists in a comprehensive analysis of financial transactions, which makes it possible to prevent possible money laundering. The verification processes are carried out in on-line mode, which allows efficient identification and immediate suspension of suspicious transactions and the generation of an alert for the operator. AML also ensures full automation of processes, which affects the efficiency of operations, while limiting the involvement of staff. As a result, AML teams can focus on an in-depth analysis of the cases selected by the system.
- Reporting to the regulatory authority: The system generates reports with information on selected transactions. Each of the registered transactions is subject to a validation process which guarantees that the report complies with the requirements ordered by the regulator.
- Monitoring: the system is equipped with a set of operational rules allowing the identification of transactions above the threshold and suspicious transactions. The solution allows the creation of a pattern of customer behaviour in relation to the transactions it carries out, aimed at detecting abnormal activity.
- Comprehensive verification: AML provides verification of customers and transactions with regard to their presence on black or white lists and in the PEP (Politically Exposed Person) database. It can be performed both online and offline. Efficient real-time analysis leads to rapid identification and immediate suspension of suspicious transactions.