Transaction monitoring systems generate numerous AML alerts, and each alert needs to be eye balled. Determining whether an alert is a false positive or the activity is unusual and reportable can be time consuming and data intensive. For the alerts that qualify for Suspicious Activity Reports, SARs are filed with FinCEN as mandated. To bring down compliance cost, there is a need to reduce the time spent per investigation case and to reduce the number of false positives.
Mphasis Anti-Money Laundering Services automates routine AML alerts investigation by leveraging a knowledge-assisted process that learns from previous alerts and investigator behavior, enhancing accuracy.
The AML Investigation Solution Complements Existing Investments in Screening and Case Management But Can Supplement them Where there are Missing Functions or Capabilities; Identifies False Positives Using Fine-Grained Screening Rules
Pre-Populates Investigation Reports with Supporting Evidence, Learns from Investigators’ Actions, Continuously Improving Pre-Processing and Screening of Cases
Provides Full Audit History of All the Actions Performed by Investigators
Unique User Interface is Designed Around the Ad-hoc Nature of Investigation, Providing a Complete Set of Tools to Drill Down, Analyze, and Report on Transactions and Customer Details
Generates Complete Customer and Account-Level Risk and Behavior Profiles, which Can Be Aggregated Across Multiple Lines of Business and Customers’ Organizational Control Hierarchies
Anti Money Laundering (AML) services help organizations detect, prevent, and report financial crimes through customer due diligence, transaction monitoring, sanctions screening, and regulatory reporting.
Mphasis Anti Money Laundering services enhance this with AI-driven alert investigation, transaction monitoring, and efficient regulatory compliance for financial institutions.
Anti Money Laundering (AML) investigation services begin when transaction monitoring systems flag unusual activity. Investigators review customer profiles, transaction history, and supporting data to assess risk.
Alerts are triaged, evidence is analyzed, and enhanced due diligence is performed. If suspicion remains, cases are escalated and regulatory reports, such as Suspicious Activity Reports, are filed to comply with laws.
KYC (Know Your Customer) focuses on verifying a customer’s identity and assessing risk during onboarding and periodically thereafter.
AML (Anti-Money Laundering) is a broader framework of laws, controls, and processes to detect, prevent, and report financial crimes. KYC is a key component of AML, while AML also includes transaction monitoring, investigations, and regulatory reporting.
Transaction monitoring in AML is the continuous process of reviewing customer transactions to identify unusual patterns or behaviors that may indicate money laundering or other financial crimes.
Mphasis’ automated systems analyze transactions in real time using rules, risk profiles, and analytics, generate alerts for suspicious activity, and support investigations and regulatory reporting.
