[AML and Financial Monitoring]

AML and Financial Monitoring

Financial monitoring is directly related to the mandatory procedures of the internal control  with regard to financial operations: identifying the operations subjected to be monitored and operations bounded to income laundering) and terrorism financing.Automation of internal control processes enables to detect and prevent potential problems in performing financial transactions timely.

Intrabank system for income laundering prevention 

  • bank customer profiles storage and printing: legal entities, individuals, business entities, financial correspondent institutions
  • analysis of customer lists and their financial activities
  • blacklisting of individuals and organizations that support terrorist organizations or involved in their financing
  • managing the list of suspicious individuals and organizations for the bank in order to prevent fraud
  • information search about customer/payee on the black list by adding customer card, by documents details, etc.
  • automatic selection of operations subjected to financial monitoring (on existing documents, on the customer's closed account, etc.)
  • printing electronic register of financial monitoring operations, fixing information about participants of such operations, logging inspections

External financial monitoring

  • financial monitoring file sharing (files generation, receipts receiving, imposing EDS)
    data loading from international lists to the blacklist :
    - Office of Foreign Assets Control (OFAC) – Specially Designated Nationals and Blocked Persons List
    - World-Check
    - EU List
  • interaction interfaces with external systems of financial monitoring (AML)

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