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AML Compliance

CaseWare Monitor Applications


The Solution for Financial Institutions – CaseWare AML Compliance

Designed to help organizations meet compliance requirements efficiently, the CaseWare AML Compliance solution actively monitors 100% of financial transactions and customer information. When a non-compliant activity is detected, it triggers an alert that is sent to the appropriate stakeholder.

The solution can assign responsibility for anomalies detected and it offers fully customizable workflows that create an accurate and comprehensive audit trail of all actions taken.

Transaction Monitoring

  • Identify transactions by customer(s) exceeding a defined number of withdrawals or deposits over a specified period or across locations
  • Identify all accounts closed with balances and any subsequent activity on those accounts
  • Identify multiple ATM cards issued to the same customer
  • Identify all cash withdrawals or deposits made at the ATM exceeding a defined tolerance
  • Identify multiple cash deposit transactions that aggregate over the internal threshold

Know Your Customer Requirements

  • Identify all customers without address data or with P.O. box addresses only
  • Identify potentially duplicated customers or customers with multiple, invalid or expired identification records
  • Identify all customers with change of name and/or address
  • Identify all accounts for which signing instructions have been amended
  • Identify inactive accounts made active without the customer being made KYC compliant
  • Identify inconsistencies in customer information across entities, etc.
  • Identify related customers

Suspicious Activities

  • Identify suspicious activity on accounts previously in a non-transaction state (such as Dormant/Inactive/Frozen)
  • Identify High Risk Customers on new or joint accounts
  • Identify significant informal relationships between customers
  • Identify corporate customers with cash transactions outside the normal course of business
  • Identify sudden loan payments
  • Identify ATM cards created and authorized by the same user
  • Identify products that do not satisfy policy requirements (for example, interest rate, principal, term etc.)

Watchlist Searches

  • Identify customers on Office of Foreign Assets Control (OFAC), Politically Exposed Persons (PEP) or Internal/Custom Lists

Remittances

  • Identify remittances to and from blacklisted countries
  • Identify instances of remittances to/from multiple recipients and/or senders exceeding a defined threshold
  • Identify recipients consistently receiving money just below the threshold
  • Identify suspicious transactions such as smurfing, flipping, etc.

Fund Transfers

  • Identify customers sending or receiving wires to multiple persons that exceed or are just below the internal threshold
  • Daily report on all incoming and outgoing wire transfers
  • Transfers from specific sources (reference established lists)
  • Provide details of the source of funds information provided by customers

Staff Monitoring

  • Identify transfer of funds from one staff account to another
  • Identify all staff deposits, withdrawals, encashment of checks or fund transfers just within a predefined threshold
  • Identify terminated employees still flagged as staff
  • Identify users with access in violation of SoD

Applications , CaseWare Monitor



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