PEP and sanction lists: Once you know who you’re dealing with, you have to check if you’re allowed to do business with them.ID proofing tools: A key part of the anti-money laundering process overlaps with KYC inasmuch as you must know who you are dealing with.But you also need to have alerting systems in place when these transactions meet a certain threshold. Real-time alerts: Monitoring transactions is one thing.This is especially important for large sums. AML Transaction monitoring: You must be able to learn how much money passes through your systems at all times.Top Features of AML SoftwareĪnti-money laundering requires specific tools and features. Important features include the ability to monitor transactions, report currency transactions (CTR), customer identification, and compliance management. See for Yourself What Is Anti Money Laundering (AML) Software?Īnti-money laundering (AML) software is designed to help companies meet legal requirements to combat financial crime and particularly money laundering, which both enables crime and constitutes a crime in itself. SEON is uniquely equipped to help streamline your AML strategy by weeding out fraudsters without friction and monitoring transactions better. Token of Trust: AML, KYC and Background Screening.Refinitiv World-Check: Intelligence to Uncover Risks.OFAC: From the US Office of Foreign Assets Control.Acuris Risk Intelligence: Human Intelligence Meets EDD.
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