Anti-money laundering (AML) is at the forefront of every regulator’s mind at the moment, given its connections with organized crime, terrorism and fraud. Banks find themselves in precarious situations without the correct processes and solutions in place, and face significant penalties if transactions slip through the net.
SAS, with its AML Transaction Monitoring Platform, combines enterprise-wide data and knowledge about behavioral patterns with an intelligent alerting system, in order to build risk profiles and accommodate enhanced investigation practices into potentially fraudulent scenarios. This use of institutional information allows it to move beyond traditional AML platforms, which have previously relied on pre-set guidelines and definitions, into a more articulate, fluid environment that reacts according to the dynamic scenarios of modern financial activity and crime prevention, while reducing false positives for monitoring officers.
Recent client wins include US-based Capital Bank, and Pakistan-headquartered Soneri Bank, while London-based Chartis Research positioned SAS as a category leader in its AML Solutions 2013 RiskTech Quadrant report.
Recent client wins for SAS include US-based Capital Bank, and Pakistan-headquartered Soneri Bank.
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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