The AML (Anti Money Laundering) service handles all AML requirements on KYC (Know Your Customer) check, based on various SDN (Specially Designated Nationals) list.
Example of functions provided by the AML Module:
- Ability to configure parameters for the AML module
- Ability to black list a particular country based on geo-political information available.
- Ability to define SDN lists
- Ability to maintain various entries in the SDN lists for the bank.
- Ability to define “economic activity” according to EU regulations so that the same can be monitored
- Ability to define various search and match functions
- Ability to define a “white” or exclusion list for known “false positives”
- Ability to define preferences for various SDN lists
- Ability to define alerts on AML configurations.
- A function to convert special characters from one language to another before checking for matches in lists
- Ability to define various key words to search for, during matching.
