Anti-money laundering investigations, alert modeling and analytics
Protect your organization-and your reputation
Compliance with the Bank Secrecy Act and anti-money laundering legislation (BSA/AML) is not only critical for risk avoidance, but also a matter of national security. And in the age of automation, software is your front-line watchdog for suspicious activity. But these increasingly sensitive automated monitoring systems can generate high volumes of alerts, and backlogs are becoming more prevalent. Industry consolidation presents further challenges with the need to marry disparate programs, metrics, processes and systems in a swift, efficient and cost-effective manner.
Real-time vigilance
Anti-money laundering investigations, alert modeling and analytics for financial services offers a proactive, instrumented approach to identifying and reporting suspicious activity initiated when an offshore investigative specialist receives a predefined alert. The specialist then identifies information needs and triages all the information to refine only the relevant data.
Offshore specialists are interconnected with in-house investigators to review relevant materials, prepare government filings and document findings. Overall, the solution offers an intelligent way to outsource selected financial crimes prevention activities to support your in-house anti-money laundering operations.
Smarter investigations and analytics
The true challenge to financial crimes prevention is finding the balance between implementing strong, effective defenses and minimizing the impact on your business. Anti-money laundering investigations, alert modeling and analytics for financial services allows you to:
- Maintain sensitive areas and key decision-making processes in-house, such as suspicious activity report filing.
- Compile and format investigative data offshore to expedite in-house analysis and decision making.
- Outsource manual and time-intensive, highly defined processes, such as:
- Currency transaction report (CTR) reviews.
- Entity resolution reviews.
- The ID-matching portion of politically exposed persons (PEP), Office of Foreign Assets Control (OFAC) and Hot List hits.
- Data retrieval and packaging portion of all alerts.
- Suspicious activity report filing 90-day reviews.
For more prevention, look to the center
Anti-money laundering investigations, alert modeling and analytics is one of the financial risk offerings from the IBM Risk Center of Excellence and Global Delivery Center, which delivers:
- A substantive reduction in support and processing costs based on previous client experiences.
- Gap analysis and implementation of leading-edge risk management processes and practices.
- Standardization and convergence of operational risk assessment processes.
- Support for transaction monitoring, Know Your Customer (KYC), customer risk rating, investigative case management and watch list matching.
- Advanced risk management reporting.
- Access to IBM Research and sophisticated modeling approaches to enhance your understanding of risks.
- Implementation support of leading software solutions.
- Hosting and on-going maintenance.
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