Anti money laundering

Prohibit money laundering and terrorist financing

An efficient and reliable fight against money laundering and terrorist financing must not only be integrated into the processes, but must also be risk-oriented. High risks must be reliably identified and careful processing in the process chain documented.

The Compliance Application Frame supports banks and their employees in a powerful and risk-oriented manner with their anti-money laundering tasks. The origin of illegal money can no longer be obscured, hidden from the access of the law enforcement authorities and the tax offices, and profits from the shadow economy can be transferred to the legal sector with difficulty.

The Compliance Application Frame has the goal of preventing anonymous transactions. It supports

Know Your Customer: Banks need to know their customers

A financial institution is obliged to identify a business relationship with a customer and to identify the beneficial owner. In addition to the identity, it must also identify the reason for the incorporation of the business relationship and check its plausibility. By creating a customer profile in the Compliance Application Frame, these tasks can be fulfilled in a revision-proof manner.

Know Your Transaction: Banks must monitor accounts and their transactions

Banks are still legally obliged to monitor accounts and transactions for suspicious money laundering. Transaction monitoring in the Compliance Application Frame allows for conspicuous transactions and trade patterns to identify transactions with embargolines or transactions with high-risk entities and to initiate a clarification and risk management process.

Know Your Process: 

The definition of various process, information and clarification steps in the Compliance Applications Frame enables a structured, efficient approach with conspicuousness. These processes are of course documented in a revision-proof manner and can be adapted to new requirements at any time.

Risk management process:

The risk management process, fully integrated into the Compliance Application Framework, allows the user to focus his / her work and time spent at the highest risks.

Identify risk persons / risk customers

The Antimoney Laundry module allows banks to meet their legal obligations to classify customers and eligible persons with regard to their risk potential. This is possible both with regard to persons with a terrorist or criminal background as well as for politically exposed persons (PEPs).

Institutionalized testing of the customer base

The Antimoney Laundry module contains an institutionalized check of the customer's stock against entries in sanction lists. New customer relationships are subject to this control at the time of opening of the business relationship.

Which lists can be checked?

  • Bundesanzeiger
  • EU-Liste
  • OFAC-Liste
  • World-Check™
  • Freely defined own lists

 

 
 
 
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