Fabtech Anti-money laundering (AML) is our In-House developed comprehensive monitoring software system, designed to assist Financial Institutions with the compliance of the Central Bank compliance.
Anti-money laundering (AML) software is a type of computer program used by financial institutions to analyze customer data and detect suspicious transactions.
Fabtech AML is our In-House developed comprehensive monitoring software system, designed to assist Financial Institutions with the compliance of the Central Bank compliance. By maintaining a knowledgebase of transaction activity, Know Your Customer (KYC), and Enhanced Due Diligence (EDD) information, ECS uses account profiling, and behavioral patterns to detect both money-laundering and fraudulent activity.
Monitoring is performed on transaction activity using both rules based and statistical based methods to detect abnormal behavior and trends in expected activity. Persons can be related to clients and non-clients allowing the system to analyze and track suspicious transactions among parties having entities in common
Using an imbedded workflow technology, The System can be deployed either centrally in the BSA Department, or across the branch network, so that account and relationship managers may participate as users and contributors of information. When alerts are generated, they are automatically sent to individuals for review as designated by BSA compliance procedures. A fully featured Case Management process allows for the grouping and filing of events to facilitate special investigations and filing of SARs.
The system helps asses the risk of every account systematically both at the account and customer level, based on risk matrices configured in accordance to risk policies of the bank.
Our Software has four basic modules that address anti-money laundering: transaction monitoring systems, currency transaction reporting (CTR) systems, customer identity management systems and compliance management software.