AntiFraud – AML – Compliance
Most global financial institutions and many non-financial institutions are required to identify and report suspicious transactions to the financial authorities. Financial service providers must verify the identities of their customers and monitor and report any suspicious activities. In addition to that the legal and corporate compliance requirements are becoming increasingly demanding. Protecting your firm’s reputation is one of the most important and difficult tasks facing risk managers.
IMPAQs kdprevent™ Platform is an analytical anti money laundering and compliance solution allowing all types of financial institutions (e.g. retail banks, investment and private banking, insurances, and others) to monitor and analyse their customers activities and to prevent criminal or non-compliant transactions.
The kdprevent™ Platform provides a substantial improvement of the compliance and controlling processes while reducing the processing cost dramatically. IMPAQ continuously enhances the platform to include the latest market and regulatory developments. Therefore the solution satisfies European national and international statutory requirements while combining state-of-the-art data analysis methods with the expertise of compliance experts.
Addressing Compliance Issues
The automated solution is designed to detect unusual, unexpected and suspicious activities. Upon detection, it automatically delivers alerts to the responsible individuals, typically relationship managers and the legal & compliance officers. It comes along with a web-based workflow and case management system responding in real-time to compliance related criteria.
The solution addresses the following compliance issues:
- Anti money laundering (AML),
- Fraud prevention,
- Terror financing,
- Filtering (SWIFT, Sepa, Sic, Euro-Sic etc.),
- Security compliance,
- KYC (Know Your Customer),
- KYT (Know Your Transaction),
- Reputational risk,
- Risk analysis,
- Risk rating.