Combat money laundering and financing of terrorism by monitoring financial transactions for suspicious activity. Track activity across multiple accounts for the same entity, match against imported lists (OFAC, FATF, NCCT, PEP, etc.), and use pre-configured rules to generate alerts required to comply with AML/CFT regulations.
Combating money laundering can be costly, complicated, and prone to error. It requires that organisations perform appropriate due diligence, including screening financial transactions for suspicious activity, and checking customers against global sanctions lists. High risk customers must be monitored with an additional level of scrutiny. If not done or done incorrectly, organizations are left at risk.
Bottomline's anti-money laundering solution includes pre-configured rules to generate alerts required to comply with AML/ CFT regulations, can track activity across multiple accounts for the same entity, and can detect direct and indirect links between accounts and customers. It provides the ability to match against imported lists (OFAC, FATF, NCCT, PEP, etc.) using exact matches, similar name matches, aliases, and spelling variations. The system is also able to run rules against internal watch list files generated by the financial institution.
The solution includes pre-packaged rules that generate alerts and reports required for compliance with AML/ CFT regulations. The system can be configured to detect suspicious activity according to country-specific requirements:
All Bottomline Cyber Fraud and Risk Management solutions incorporate Intellinx technology and use a common platform to capture, normalize, analyze, and act. With this platform all data is captured, normalized, encrypted, and signed—making it easy to analyze suspicious behavior over time and across applications, analyze and prevent new types of fraud, ensure compliance, and provide legally admissible forensic evidence. A common user interface for all types of fraud and compliance analysis maximizes productivity of network operators and fraud investigators. Learn more about the Bottomline Cyber Fraud and Risk Management platform.