AzAML

The AML solution allows to identify clients

• Collecting of obligatory customer information. Maintaining and periodic updating of questionnaires of clients.
• Determination of risk category of participation of the client in "washing" depending on collected information, and further change of risk category depending on activity of the client.

Identify the persons involved in terrorist activity:

• Check of the client on participation in terrorist activity.
• Check of partners in settlement transactions of clients on participation in terrorist activity.
• Suspension of settlement transactions. Failure to clients in service.
• Maintaining and updating of lists of terrorists.
• Messages list of public officials.
• Implement document flow for department of financial monitoring. Automation of process of investigation of incidents.
• Reduce the number of false operations due to flexible configuration of scenarios.
• Make integration with banking systems. Support of fundamental standards of the industry.
• Reveal the transactions of clients which are subject to mandatory control.
• Reveal the unusual transactions and transactions and also the fraudulent schemes distributed territorially and which are dragged out in time.
• Prevent fraudulent transactions.
• Prepare the obligatory and analytical reporting.
• Implement both the Russian, and international requirements in the field of counteraction of money laundering.

System implementation will allow credit institutions to implement new requirements of the legislation in the shortest possible time, to increase the level of control of compliance and efficiency, to reduce operational risks.

Description

A system consists of several modules: questionnaires of the client, operation analysis, document flow, reporting, analytical reporting and module of administration. The questionnaire of the client contains the customer information of bank which is periodically received from the core banking system or from other external sources. In need of the questionnaire can be changed - the data which are contained in them are deleted or updated. AzAML provides a possibility of determination and maintaining risk group for each client. In a system check of clients on presence in "black" and "gray lists" of bank is also implemented. At the same time a system allows bank of a message own "black list" and also to load lists of such international organizations as the UN and OFAC. The module implements the principle of KYC - Know Your Customer which is a part of the international AML standards.

AzAML reveals suspicious banking activities using a set of scenarios (scripts) representing mechanisms for operation analysis and determination of the set customer behavior types. All scenarios were executed according to requirements of the legislation of the Azerbaijan Republic. Each executed banking activity in real time is checked for compliance to the list of scripts. At identification of the suspicious transaction or transaction which is subject to mandatory control, AzAML automatically creates case for the further analysis of a situation by responsibles of bank. For work with affairs in a system the document flow mechanism is provided. Thus, the AzAML system allows to fix all investigation of transaction, at each its stage case can give a certain status.