caseware aml compliance solution

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The AML Compliance ChallengeAre you struggling to maintain compliance with the growing number of anti-money laundering (AML) regulations? The CaseWare AML Compliance solution puts you ahead of these challenges and engages the entire business in compliance efforts. Unlike other solutions that only satisfy one of the key requirements, CaseWare Analytics meets them all within a single platform.

• Monitor and continuously update know your customer metrics• Monitor all transactions to detect suspicious activities • Screen against sanctions lists to identify high-risk customers and transactions• Prepare and electronically file suspicious activity and transaction reports

The platform is driven by data analytics, enabling you to effectively manage and evolve your program with clear and comprehensive insights into AML risks.

CaseWare aml compliance solution

Optimal Process

to engage all stakeholders in

compliance efforts

Complete Picture

of all your AML

risks and data

Single Platform

to easily oversee all

of your compliance

requirements

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One Solution to Cover All of Your AML Compliance Needs


Know Your Customer (KYC) ComplianceKnowing your customer is a critical component in most compliance programs. CaseWare AML Compliance provides a complete view of your customer risks including:

• Verifying that all appropriate information has been collected and validated during the customer identification phase

• Allowing customer service representatives to exercise due diligence and screen new customers prior to any transactions

• Providing an environment for the compliance department to perform enhanced due diligence on customers who need to be investigated further

• Dynamically updating customer risk profiles based on current activities

IdentificationRisk Classification

Screening

Verify the existence of basic information for all customers

Apply risk score based on number, types of accounts, account status, etc.

Identify abnormal transactions based on the customer profile

Verify customers against internal and external watch lists (e.g., PEPs)

Profiling


REDUCE COMPLIANCE COSTS

Automating customer and transaction data monitoring reduces the effort and costs to maintain compliance while increasing coverage to reduce the risk of issues going undetected.

Transaction MonitoringCaseWare AML Compliance monitors all of your transactions for suspicious or abnormal activities:

• Monitors 100% of data across products, services and locations• Includes more than 200 pre-built analytics to detect common scenarios that may lead to

money laundering • Provides highly customizable analytics and rules• Engages the entire organization with customizable alerts and case management that tracks

items to resolution• Enables you to generate insights on demand


Sanctions List Screening

CaseWare AML Compliance screens your customers against multiple sanctions lists to identify risky individuals, entities and politically exposed persons (PEPs). It also screens your customers at various points to detect high-risk individuals and transactions:

• During on-boarding to screen potential customers and vendors when opening new accounts• Periodically to screen your entire customer base to identify any changes that could pose a risk• In real-time during transactions by screening senders and recipients of wire transfers and drafts

CaseWare AML Compliance is integrated with the Thomson Reuters World-Check database, which currently includes more than 800,000 sources. The solution can also support other sanctions lists.


IDENTIFY AND RESOLVE DATA QUALITY ISSUES

If there are any issues affecting the integrity of your data, CaseWare AML Compliance will discover them before compliance is affected. It then ensures the necessary steps are taken to resolve the problem across all entities.

Regulatory Reporting

CaseWare AML Compliance removes the pressure and hassle involved in regulatory reporting by:

• Pre-populating reports with information from core financial systems and the data analytics platform

• Validating reports for errors and missing information• Submitting reports to regulators electronically once approved by the compliance team• Providing the option to send a batch of reports in a single action• Automatically receiving and processing acknowledgments from regulators• Tracking reports in an automated workflow • Providing an audit trail of all changes made to reports• Sending reports in electronic batches using a secure connection• Reducing time to complete and file reports from hours to minutes

SARs

CTRs

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Key Capabilities

ANALYTICS

• Extensive data analytics to identify anomalies and compliance issues• To review customers, accounts, relationships, internal activity and 100% of transactions• Pre-seeded analytics for banks, money services businesses, insurance companies and more

REMEDIATION WORKFLOW AND CASE MANAGEMENT

• Notifications and alerts delivered via email and text messages or in app• Fully customizable workflows that facilitate escalation and create a comprehensive audit trail

of all remediation activities• Attachments, comments and indicators can be added to alerts to assist in root cause

analysis or create cases for investigations • Case management to facilitate enhanced due diligence• Emails can be sent directly from alerts and responses are automatically added to the system

DATA VISUALIZATION

• Insights for key program metrics through interactive charts and visual discovery• Facilitates further analysis with drill-down capabilities• Create your own insights with built-in tools

Stay compliant across all key AML regulatory requirements and create a culture of compliance in your organization with the CaseWare AML Compliance solution. Visit casewareanalytics.com to learn more about how our solution can help you take control of your AML compliance program.

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About CaseWare Analytics

CaseWare Analytics is home to IDEA® Data Analysis and the CaseWare Monitor continuous monitoring platform. Our software solutions are built on a foundation of industry best practices and expertise, enabling audit, compliance and finance professionals to assess risk, gather audit evidence, uncover trends, identify issues and provide the intelligence needed to make informed decisions, ensure compliance and improve business processes. We offer solutions that meet the needs of auditors, analysts, purchasing card managers, compliance officers and more. With 40 distribution offices worldwide, CaseWare Analytics’ products and solutions serve more than 400,000 professionals in 90 countries.

To learn more visit casewareanalytics.com.


http://casewareanalytics.com

caseware aml compliance solution

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