AML Compliance and Management

Uncover Suspicious Activity & Strengthen Compliance

Manual processes, siloed teams and rules-based legacy systems are exacerbating compliance challenges for many in the financial industry. As financial crimes grow more sophisticated and regulatory requirements evolve, managing daily compliance tasks and uncovering suspicious activity can result in strained compliance programs, increased operational costs, and exposure to potential money laundering risks for financial institutions.

In this product demonstration, learn how Verafin strengthens AML compliance and management using targeted analytics, automated reporting and compliance functionality, smart evidence and visual investigation tools.

Highlights of this archived demonstration include:

  • Risk-rated targeted AML alerts and scenarios including monitoring for money laundering, structuring, international activity, human trafficking and more.
  • High-Risk Customer Management and end-to-end Customer Due Diligence/Enhanced Due Diligence (CDD/EDD) including our Account Opening Questionnaire, stratified risk models for high-risk customers, ongoing monitoring and automated risk reviews.
  • Alert Threshold Testing and Performance Monitoring that allow you to validate configurations for your institution and assess the results of above- and below-the-line testing.
  • Integrated Case Management to create a case directly from an alert, attach applicable files, link entities and related suspicious activity, and fully document your investigation.
  • Automated regulatory reporting of SARs and CTRs, workflow dashboards, customized reporting, risk rating and more.
  • 314(b) Information Sharing to facilitate collaborative investigations with other 314(b)-registered institutions and show you a complete picture of customer activity.
  •   BSA/AML
  •   CDD/EDD
  •   FRAML
  •   High-Risk Customer Management
  •   Money Laundering
  •   SARs