Compliance AML-CFT : AP Scan & AP Filter solutions track sensitive individuals and transactions for a wide range of industries
Financial crime: a constant threat
Financial fraud is on the increase, and many organizations around the world continue to bear the brunt of it on a large scale, against a backdrop of regulatory pressure. Globalization and the complex geopolitical situation, compliance challenges and high associated costs, the exponential development of suppliers, and the acceleration of digital technology, which is particularly popular with financial criminals, are all factors that are making companies more vulnerable.
The challenges of financial crime (AML-CFT)
Encompassing money laundering, tax fraud, corruption and financial market manipulation, financial crime (AML-CFT) is one of the major challenges facing organizations worldwide today. It affects a wide range of companies in different business sectors subject to due diligence obligations, as well as other regulated sectors such as banks, insurance companies, notaries, chartered accountants, auditors, etc.
Controlling risk appetite
Today, all organizations need an appropriate risk management system to protect themselves, ensure reliable relations with their customers and suppliers, and remain compliant. Indeed, while the potential for fraud remains high, regardless of a company's sector of activity (accounting fraud, product counterfeiting and corrupt practices, extortion attempts, etc.), a complete overhaul of cooperation procedures, tools and control mechanisms is a crucial step towards curbing the phenomenon.
RegTech: advanced solutions for the complexities of regulatory compliance
The use of RegTech solutions (Regulatory technology) solutions solutions will help establish compliance by meeting the transparency and traceability requirements, while drastically reducing the handling of suspicions, with the added bonus of automated regulatory monitoring!
AP Scan & AP Filter, detect sensitive people and transactions in real time and boost agility
Due diligence with confidence
RegTech is revolutionizing customer knowledge management (KYC) and the fight against money laundering, boosting companies' agility in the face of to constant regulatory environment and their IS. Due diligence involves not only the identification of customers/suppliers with the automated collection of relevant information to assess risk profiles, but also the rigorous monitoring of transactions with the maintenance of full traceability and explicability in line with the requirements of the relevant authorities.
AP Scan and AP Filter, advanced solutions for non-experts
The AP Scan solution provides granular screening of third parties based on scoring rules that can be scoring rules. Operating completely independently, it automates the detection, identification, classification and processing of sanctioned or sensitive individuals or legal entities. The AP Filter solution can be integrated with core banking systems systems and filters financial transactions, i.e. it detects international sanctions or identifies embargoed countries or currencies.
Interconnected solutions
Interconnected, and integrating via API with all types of customer or third-party files these proven solutions accelerate anomaly detection, identifying in real time potential interconnected relationships or transactions underlying money-laundering activities via the analysis of thousands of different sources (Global/Regional Sanctions, Asset Freezes, Politically Exposed Persons, RCA Relatives and Closes AssociatesUnfavorable Media, Beneficial Owners, identification of countries and currencies under embargo, internal lists, Dow Jones, Acuris, Open Data (INPI, ORIAS, deceased persons...).
Intelligent automation and powerful reduction engines
By offering intelligentautomation and powerful powerful reduction enginesthey will reduce the need for human intervention in time-consuming tasks, while securing real-time flow analysis (up to 98% fewer false positives...).Fully configurable according to the company's compliance and risk management policy, elThey can be used in a variety of business sectors to streamline customer/supplier onboarding processes, validating KYC / KYS vigilance measures over the long term via consistency analyses, as well as identifying warning points through in-depth reporting.
A few examples of their application
Real estate
In recent years, real estate has become a preferred means of reinvesting the profits of organized crime into the real economy, and this calls for serious vigilance on the part of industry professionals. The AP Scan and AP Filter solutions will help identify at-risk individuals before any collaboration takes place, and ensure compliance with current regulations to avoid sanctions.
Lhe retail
In the retail sector, AP Scan & AP Filter help marketplaces, for example, to remain compliant by enabling them to check the probity of sellers, the identity of the beneficiaries of funds collected, and the nature of the services provided, to reduce the risk of commercial disputes.
Casino and gaming
Offering anonymity and high stakes, casinos, singled out by the FATFare a popular target for criminals, as they enable them to launder money quickly. AP Scan & AP Filter identify anomalies in real time, taking into account geographical regulatory disparities, and analyze transactions to define risk thresholds.
Proven, automated solutions, AP Scan & AP Filter can be used in a variety of business sectors to offer organizations agility and adaptability within a changing regulatory environment, while enabling them to implement a risk-based approach to safeguarding their business and reputation.
Would you like to know how AP Scan & AP Filter can be implemented in your organization to help you stay compliant and protect you from financial crime? Request a demo