Anti-money Laundering

Financial institutions and other regulated entities are legally required to have special controls in place to prevent and report money laundering activities.  Macrobank's AML subsystem will enable financial institutions to detect, investigate and report transactions of suspicious nature to relevant authorities. The subsystem provides automated monitoring of accounts, customers, and correspondents in search of suspicious activities and possible money laundering. 

Macrobank's AML subsystem covers all major areas of AML compliance and streamlines AML processes in the financial institution. It comprises the transaction reporting module, customer identity management module, which is part of Macrobank's KYC management, and transaction monitoring module, designed to identify suspicious transactions or patterns of transactions, which may qualify for suspicious activity reporting.

Key Features

• Currency transaction reporting (for transfers exceeding a specified amount)   
• Customer profile setup 
• Transaction patterns setup
• Monitoring customer transactions against their recorded profile, account history and industry average
• Alert rules setup
• Generating alerts where unusual activity is suspected
• Exercising due diligence processes for suspicious transactions
• Verification of the customer's identity
• Identification of blacklisted individuals, entities and countries
• Document validity period checking
• Dormant account tracking