Caseware AML Compliance
Introducing The Caseware AML Compliance
By law, financial institutions and their subsidiaries are required to implement anti-money laundering (AML) measures into their operations. AML compliance programs must fulfill intra-national regulatory requirements laid out in regulations such as the Bank Secrecy Act (BSA), the Proceeds of Crime Act (POCA), Basel II, Sarbanes Oxley (SOX), Foreign Account Tax Compliance (FATCA) and the USA Patriot Act. Between 2001 and today, tens of billions of dollars in AML and sanctions fines have been levied to organizations around the world for failing to comply with these regulations. The burden of maintaining AML compliance is heavy, but with the right solution, compliance is achievable and sustainable.
CaseWare AML Compliance is driven by IDEA® Data Analysis software, enabling financial institutions to generate new insights into their data so they are better positioned to respond to emerging risks and changing regulations. The solution includes more than 200 pre-seeded analytics, including sets specific to banks, money services businesses (MSBs), insurance companies and more.
Meet All of Your AML Compliance Requirements Within a Single Platform
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. Attachments, comments and indicators can be added to alerts to assist in root cause analysis or to create cases for investigations. Institutions are empowered to exercise due diligence to avoid offences.