Money laundering describes the process of hiding the origin of illegally obtained money and making it appear to have been obtained from a legitimate source. The nature of the financial services industry makes it vulnerable to abuse and hundreds of billions of dollars of criminally derived money is laundered through financial institutions every year.
Our Anti-Money Laundering (AML) product put checks in place to identify and flag suspicious events. For example, Alerts targeting possible money laundering activities can be used to create custom watchlists or be used in conjunction with existing watchlists. Alerts can also be grouped into Cases to be investigated further. The findings of the investigations are put into reports which can be used to take the necessary action.
Click here for more information on AML.