RE-INVENTING AML/CFT COMPLIANCE
In recent years, increasing number of Money Laundering / Financing is destroying value. It facilitates economic crime and nefarious activities such as corruption, terrorism, tax evasion, and drug and human trafficking, by holding or transferring the funds necessary to commit these crimes. It can be detrimental to an organization’s reputation – and its bottom line.
Global money laundering transactions are estimated at 2 to 5% of global GDP, or roughly U.S. $1-2 trillion annually. Yet according to the United Nations Office on Drugs and Crime (UNODC), less than 1% of global illicit financial flows are currently seized by authorities.
AML/CFT Health Check
AML/CFT Health Check is a tool to measure the health of on-going Anti-Money Laundering/Counter-Financing of Terrorism system operating at Financial Institutions. It is gaining focus driven by Regulation, Benchmarking, Technology, and Organization Experience.
AML/CFT Health Check is an either online platform or deployment at Client’s site which to controls assurance and put in place a structures framework for conducting independent tests to assess the design and operational effectiveness of on-going Anti-Money Laundering/ Counter-Financing of Terrorism system.
An End-to-End Anti-Money Laundering (AML) and Combat Terrorist Financing (CFT) solution. The solution is equipped with intelligent, straight-through processing capability and in-built detection mechanism to trace and filter out suspicious transactions with greater efficiency and clinical accuracy.
CORAL iSEM™ allows user to proactively monitor, detect and prevent any suspicious activity, individually and collectively throughout multiple channels. The pattern analysis and detection is done in near real time without human intervention. It is a powerful, multifaceted web-based application which provides FIs with end-to-end functionality for AML/ATF monitoring.
TRADE-BASED MONEY LAUNDERING
Financial institutions may wittingly or unwittingly be implicated in Trade Based Money Laundering (TBML) schemes when such institutions are used to settle, facilitate, or finance international trade transactions. Our End-To-End TBML solution will monitor every trade transaction upon receiving the first trade document from customer till the final settlement of the transaction and observe every amendment or information changed.
The key solution features includes Intelligent Matching Logic for Watch-list Screening, Vessel and Port Screening, Dual-Use Goods Screening, Validation & Comparison of goods pricing, Document Matching, Transaction Monitoring, Know Your Customer’s customer check and risk profiling, and a self-learning knowledge database. It also comply with the Uniform Customs and Practice for Documentary Credits (UCP) 600, 2007 Revision.
RBA Essential is a customized solution to assist the Designated Non-Financial Businesses and Professions (“DNFBP”), in particular the Company and Trust Service Provider (“CTSP”) to mitigate AML/CFT risks. Based on the Bank graded AML/CFT system technology, RBA Essential is customized to help DNFBP in collecting essential KYC information, conducting both onboarding and ongoing name screening and profiling respective customer AML/CFT risk. More importantly, We will ensure customer fulfilling relevant AML/CFT laws and regulations in an affordable cost.