Anti Money Laundering Management Solution AMLOCK

AMLOCK solution is one of the few solutions that meets all Customer Information (KYC) standards. The solution is capable of detecting fraud and money laundering, identifying risks and giving warnings to banks.

AMLock is part of the Kastle ™ Banking Solutions Suite - an automated Money Laundering Prevention solution that assists organizations in complying with the Anti-Money Laundering regulations. The system provides organizations in all different models, a means to detect and investigate suspicious transactions, ensure compliance with KYC standards, and a range of valuable investigations. and analytics tools to assist employees in making their work effective and easy.
AMLock can retrieve data from a variety of sources, so it allows a unique view to be displayed to customers across products and services. Retrieving data can be done in real time to prevent requested transactions, or can be performed in accordance with specified plans.

Highlight Features

Know Your Customer: Displays a list that allows you to test customers, beneficiaries or even non-customers for general or internal lists of your choice.
Risk identification and Behavioral profile: Assessment of money laundering risks at both account and customer levels.
Monitor suspicious activity transactions: AMLOCK has a number of built-in alarm scripts that provide you with tools to monitor suspicious transactions and identify suspicious patterns, providing users with means. to track the transactions that form the basis of suspicion and enable the multi-dimensional view of the trading model.
Investigation and reporting: Provide warning reports based on the aggregation of business data, and conduct investigations with shady and suspicious transactions.

Key Functions

Designing the program "Know Your Customer" KYC
Check current remittance and customer database against OFAC SDN, terrorist list, blacklist, fraud list and criminal list or any list that is defined by institutions financial institution.
Fraud and Money Laundering detection by closely monitoring the transaction models, allowing investigation through past payments that have been saved in the system.
Identify cloaked and suspicious transactions and perform statistical analysis of customer records.
Provide aggregated information and statistics for reporting purposes.
Provide customized reports (Adhoc) and MIS.

Benefits

Extensive and deep coverage: Meet customer understanding (KYC) standards, check transactions regularly, manage risk and report doubts in anti-money laundering regulations.
Strict compliance with regulations: Combining the most advanced and optimal regulations to comprehensively meet Vietnam's anti-money laundering regulations.
Seamless connectivity and Open architecture: Allows continuous connectivity with other applications, server systems, other external distribution channels.
Other preeminent features: Banking support beyond the goal of maintaining compliance with legal regulations only
Meet diverse user needs and independent platforms: Allow financial institutions the option to deploy solutions on different available hardware platforms.

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FAQs

What is KYC "Know Your Customer" program?

Be the procedures to identify customers directly affecting the safety and health in the operation of each bank. These necessary procedures help protect the reputation of each bank in particular, the integrity of the banking system in general, and are an important part of ensuring the bank's effective risk management.

In contrast, KYC procedures are not commensurate or even non-existent, which will cause the bank to face serious risks related to customers and partners, especially reputation and operational risks. , legal and centralization risks. The above risks are interrelated and can potentially cause significant financial losses for the bank's operations.