DOSTHANE

With the ever-increasing emphasis on being able to
demonstrate
adequate anti money laundering procedures and prevention
techniques, plus the draconian penalties for those failing to
maintain
suitable evidence of such activity, no financial institution
can afford
to be without an automated system such as MLTrac.MLTrac
is part
of our portfolio of banking software and is dedicated to
identifying,
tracking and regulating potentially suspicious or illegal
activities in
respect of money laundering and/or the proceeds of crime.
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,reuters,online,on-line, Anti Money Laundering software
MLTrac enables
financial institutions to improve their internal disciplines,
supplement their
policies and procedures, and make a clear statement to
the authorities
about their commitment to effective anti money laundering
controls
.MLTrac's functionality is based upon a combination of our
experience,
together with contributions from our customer base and the
relevant
international financial authorities. Regular updates also take
account
of any future changes in market requirements and legislation.
Functions
:*KYC Document Management - The definition, scanning,
management
and tracking of customer documentation, and reporting of
any deviations.
*KYC Account Monitoring -The tracking of movements over
account(s)
looking for deviations outside of a pre-determined profile.
*Manual Watch
List Checking. Enter a name and the system will check to see
if the name,
or like sounding names, appear on any of the watch lists (e.g.
OFAC, Bank of
England and o
thers) that the system monitors* Message Monitoring.
MLTrac can be
configured to check all inbound and outbound messages,
irrespective
of format, to see whether any field (normally the Ordering
Customer
and Beneficiary) appears on one of the supported checklists.
The bank
has control over the granularity of the name checking so as
not to create
too many false alerts. Messages that fail Watch List Checking
are put to a
quarantine queue for manual intervention. Full Audit Trails
of all checks
and actions taken is maintained by the system.*Cash Remittances.
For the
many institutions that originate from a country with a large
overseas
population the problems associated with accepting cash for
remittance
back home when taken against the potential ramifications of anti
money
laundering legislation means that the business is very risky and,
often, not
worth doing. The Cash Remittances module does away with this
fear.
Information concerning the remitter is maintained as part of the
KYC
Documentation Management module and is displayed and made
available
to the teller at the point of capturing data. A full record off all
remitters and
beneficiaries is maintained. Limits can be placed upon the individual
remitter
and upon the ultimate beneficiary (irrespective of source).
The resulting
SQL database can be interrogated for unusual payment patterns.

15/7/2009 - MONEY WEB

14/7/2009 - MLTrac™

5/5/2009 - KREDIT EN FINANS