Scila AML™
Efficient Detection of Anti-Money Laundering
Anti-money laundering solution allowing it’s users to comply with regulation while detecting and managing fraudulent actions.
Preventing money laundering and terrorist financing remains a top priority of governments and global financial regulatory bodies. Escalation of these financial crimes has raised the need to comply with an increasingly stringent and complex regulatory climate.
This, in turn, demands effective and precise AML-solutions to facilitate detection for financial institutions to avoid being exposed to illegal activities while at the same time reducing cost of compliance.
Scila AML™ addresses these premises through accurate, automated surveillance which enables analysis and investigation of suspicious transactions and trading misconduct. The solution allows end-users to comply with regulation while detecting and managing fraudulent actions.
Scila AML™ is based on the same core as Scila Surveillance and provides both high-throughput real-time and historical processing of transactions and trade data through refined algorithms, producing AML-specific alerts and case reports for further investigation via fully integrated case management. Furthermore, Scila AML consists of benchmark alert rules that are based either on dynamic type of data, calculated on demand, or based on statistics and historical trends. The user is then able to follow benchmark statistics, take action and visualize through time series view, relationship graph and other tools.
Scila AML™ includes a flexible and configurable alert system which provides the ability to set up specific AML-rules according to the end-user’s explicit preferences and needs. Scila AML consists of AML-specific alert rules, covering specific potential anti-money laundering scenarios, such as high-volume deposits/withdrawals during a certain timeframe as well as private securities transactions. The specific parameters linked to the Scila AML alert rules, for instance check period, risk class, booking type or number of bookings, has the ability to cover multiple scenarios providing a high level of flexibility.
Scila AML™ supports sanction monitoring and sanction screening. It has built-in support for all major sanction lists including the OFAC SDN and EU Sanction list. It also supports the integration of custom sanction, PEP or Terrorist Lists / Data Sources with full support for similarity and fuzzy matching algorithms and custom scoring.
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