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Zylog Systems has introduced AML-Detector as the complete anti money laundering solution. Suspicious activity monitoring, documentation and verification control, sanction list monitoring, automated outputs to local authorities, workflow, management reports, all in one flexible rules-based system, delivering a centralised compliance database. Choose your modules and let AML-Detector deliver what your Compliance Officer needs.

Suspicious Activity Monitor displays the exceptions that matter to you. Complete details of all unusual account movements and their causes are shown along with recent account history, customer and account relationships static data.

• Reporting of exceptions by parameters including type, customer, date, severity, priority
• Large (relative) deposits or withdrawals, or large deposits with multiple small withdrawals
• Unexpected deceased or dormant account activity
• Profile-based monitoring of abnormal account activity such as early redemptions of fixed term savings accounts or performance bonds or unusual use of corporate accounts
• Monitoring abnormal peer group activity by customer age, business type, country, introducer
• Monitoring against profile of excepted activity or against amount or turnover limits

Account Opening Due Diligence delivers the ultimate in customer documentation and verification control. Simply define verification standards per line of business per customer type, and AML-Detector identifies sub-standard or out of date documents and other verification failures. All customer relationships and non-customers such as joint holders, beneficiaries or refused applicants are controlled in the same way. In one Know Your Customer (KYC) view see the whole customer relationship, including data ideal in response to policing/ regulatory investigations

• Reporting of all documentation and verification failures
• User-configurable verification deadlines
• Officer and branch associated with the customer and account
• All account relationships including non-customers

Watch List Monitor loads watch lists such as MAS, HKMA or OFAC sanctions lists, and any others including in-house or 3rd party lists. Existing customer details, all relationships to your customers, and all parties to fund transfers are checked against these lists. Monitored country matches are reported, as are unusual transfer source or destination.

• Automated upload of watch lists of your choice (individuals, entities, countries)
• Management of common words and automated logging of prior hits minimizes false positives
• Customer and non-customer matches (such as signatories, company directors or beneficiaries)

Risk Tracking and Clearance Centre Built-in workflow maximizes proactive risk control and is a rich source of management information. The Risk Tracking and Clearance Centre displays new exceptions: suspicious activity, hits against watch lists or documentation or verification failures. Actions to clear these risks are work-flowed with investigation and action requests routed to suit your operational requirements. Complete action history including reporting to local authorities, audit comments and annotations are recorded for posterity

• Integrated email-enabled workflow with access right controls: review all open
• anomalies by current owner and elapsed time
• Customise workflow flags e.g. “sent to head office” “referred to Acc. Officer”
• Add and report non-customers, refused customers or front-office identified suspicious
  activity
• Complete investigation audit trail
• Provides source data for Compliance Officer reporting to senior management

Investigations and Management Reporting AML-Detector provides extensive ad-hoc queries and management reporting across the complete stored data history. Reports show thresholds, tolerances, exceptions, high-risk customers and all other trigger settings and account activity statistics, movements by peer group, customer documentation expiry and grade, anomaly type by customer, branch, date, and priority. The Investigations module specifically searches payments history in response to requests or orders from regulatory and policing authorities.

Management Information to suit you

• Multiple accounts opened within a short period
• Large overpayments
• False or unsubstantiated identity
• High balances on young saver accounts
• Non-domestic addresses or payment sources

Investigations

• Search complete history of payments and transfers on demand
• Search all text fields including originator, beneficiary and any narrative information
• Drill-down to matched payment details and output reports