The Intellinx Anti Money Laundering (AML) solution builds on deep experience in gathering and processing data for some of the world’s largest financial institutions. The solution is easy to deploy and use with minimal IT support required.
Intellinx can import data sources using traditional methods (from logs or databases), but has the added advantage of aggregating user and system activity directly from the network using patented network-sniffing technology. By aggregating traditional and real time sources, Intellinx tracks customer behavior patterns and transactions activity to provide a unified view and analysis of customer activity. This includes customer and user actions that typically are not available in the traditional data sources (e.g. incomplete transactions).
One of the primary defenses is performing appropriate due diligence, which must be performed for new customers to establish a risk profile. High risk customers must also go through an additional level of scrutiny. Additionally, customers must be periodically re-rated for risk.
Intellinx provides capabilities around Customer Due Diligence and Enhanced Due Diligence through its highly configurable analytic engine:
For the most part, combating Money Laundering and Financing of Terrorism comes down to the monitoring of financial transactions for suspicious activity.
Intellinx rules generate alerts and reports required to support AML/ CFT regulations. The system can be configured to detect suspicious activity according to country-specific requirements:
Global governments develop and publish lists of individuals, organizations and countries which need to be monitored by financial institutions. The Intellinx AML solution comes with pre-configured rules to generate alerts required to comply with AML/ CFT regulations. The system can track activity across multiple accounts for the same entity. Intellinx can detect direct and indirect links between accounts and customers. The solution provides the ability to match against imported lists (OFAC, FATF, NCCT, PEP, etc.) using exact matches, similar name matches, aliases and spelling variations. Intellinx is also able to run rules against internal watch list files generated by the financial institution.
To maintain full compliance, timely filing of the correct reports to the various regulatory bodies is required. The Intellinx solution provides the workflow and reports to ensure timely filing as well as providing electronic interfaces to automate the required filing processes.
Case Management and Investigations are an important part of enterprise AML capability. The Intellinx solution provides a case management function configured to support the AML investigation process. The solution includes reports and time based alerts to ensure compliance.