evision's AML solution: OFAC- Agent Suite
To fight money-laundering
and terrorist financing, and to enforce economic
sanctions, most governments are reinforcing their regulations on illegal
trafficking. Thus, general message filtering compliance and customer monitoring
have become a major concern for financial institutions.
evision proposes a complete Anti-Money Laundering Filter Solution OFAC-Agent
Suite. It accepts any message/text file format to determine in milliseconds
if there are names, companies, vessels, sanctioned countries or banking codes
that match the selected blocked-parties list. The filter catches any suspicious
hits and alerts the officers of the cause of the hit, and asks for an action
(pass, fail, pending). The solution also provides a very wide range of reporting
capabilities, to better serve the needs of high management.
The blocked-parties list is a combination
of official, internal and large third-party sanction lists such as Office
of Foreign Assets Control - OFAC,
HM
Treasury, United
Nations, European
Union, Office of the Superintendent of Financial Institutions
Canada - OSFI and
Australian Government DFAT.
Official lists are updated regularly by the authorities, ready to be downloaded
from their official websites and easily imported into the system.
The AML Filter Solution's
powerful algorithm manages foreign translations, misspellings and typing errors,
alternate spellings, abbreviations, truncated words, synonyms, acronyms, first
names initials, search codes (e.g. BIC), compound and concatenated words.
AML filtering solution - OFAC Agent Suite Brochure (PDF) [+]
