Anti-money laundering (AML)
You need an intelligent solution that helps catch criminals who understand the rules and know how to work around them. Unlike legacy rules-based systems, Verafin's behavior-based approach offers the next generation solution for money laundering detection.
Verafin keeps you a step ahead.
- Automatic analysis of the flow of funds of all transaction types in and out of customer accounts:
- ACH transfer (incoming and outgoing)
- Wire transfer (incoming and outgoing)
- Cash deposit and withdrawal
- ATM deposit
- Check deposit
- Monetary instruments
- Generates an alert when a customer's activity goes outside their normal behavior range
- Risk rated alerts help manage and prioritize your review workload
- Alerts include evidence and statistics to optimize and focus your review and investigation
- Allows you to adjust customer behavior parameters for more effective alert generation
- Maintains history of alerts, cases and reports for auditing purposes
- Case management helps you organize and document your investigation
- Quickly create and electronically submit a pre-populated Suspicious Activity Report (SAR) in one click
- Archives SARs for a minimum of five years for easy access, viewing and printing
- A host of useful built-in reports, such as SAR Board of Directors reports
