Asseco Anti-Money Laundry enables a comprehensive analysis of financial transactions in order to detect any suspicious operations.
The system guarantees the complete implementation of internal procedures adopted by the institution and, owing to its versatility, ensures consistency across all areas of activities undertaken in relation to Anti-Money Laundering (AML) and Terrorist Financing (TF). The system can operate in a fully automatic fashion, requiring the user to intervene only in the case of identifying any unusual transactions.
The security and access policy of the Asseco Anti-Money Laundry application are managed by a system based on metadata stored in relational tables in the Oracle database.
Key functionalities
Gathering information
Information about transactions, customers, black/white lists, currency exchange rates or organizational structures. Most of the required information is collected from the source transaction systems
Client risk assessment
Evaluation of the risk of clients being prone to money laundering practices
Transaction analysis
A package of business rules providing basis for the identification of transactions with a value exceeding the threshold amount (currently the equivalent of EUR 15,000) as well as any interrelated or suspicious transactions
Management of verification lists
Defining and updating of white/black lists, performed manually or imported automatically from external sources
Case management
Assistance in carrying out any actions with respect to risky customers or transactions
Registering of transactions and generating reports
Automatic reporting of specific transactions as required by law, in line with the standards set forth by the General Inspector of Financial Information (GIFI)
Business benefits
Prevention of money laundering and terrorist financing
Fulfilment of the obligations under the “Act on counteracting the introduction into the financial circulation of assets originating from illegal or undisclosed sources and on counteracting terrorism financing”.
Security of operating activities
Identification of money laundering and terrorist financing threats.
Reduction of operating costs
Full automation of customer and transaction verification processes.
Consolidation of processes
Support for all GIFI requirements in a single module.