SAS® Anti-Money Laundering
High-performance money laundering protection, full anti-money laundering compliance
SAS Anti-Money Laundering takes full advantage of high-performance analytics capabilities to provide the most accurate, complete solution for detecting, investigating and reporting on potential illicit activity – one that combines the essential elements of a successful AML solution, including customer due diligence, suspicious activity monitoring, watch-list filtering and case management.
Benefits
- Monitor more transactions in less time.
- Improve the quality and accuracy of alerts.
- Enhance investigation speed and effectiveness with a faster, better review and decisioning process.
- Identify organized crime rings.
- Reduce AML compliance costs.
Features
- Data management
- High-performance analytics and visualization
- Suspicious activity monitoring and reporting
- Customer due diligence/know your customer risk scoring and classification
- Watch-list matching
- Investigation/alert management
- Compliance analytics
- Integrated case management
- Regulatory report generation
" With mobile payments on the rise, criminals will continue to take advantage of weak security controls. Putting a common technology infrastructure in place with layered security to support monitoring and investigating all channels will be of utmost importance moving forward."
— Jason Malo
Research Director, CEB TowerGroup
Screenshot
Alert details tell you how and why an alert was generated and provide contextual information about the alert.
Screenshots
How SAS® Is Different
Only SAS combines context-specific intellectual property, SAS High-Performance Analytics and SAS Foundation technologies to support all key areas of a complete anti-money laundering solution – including suspicious activity monitoring, customer due diligence and watch-list filtering – and all steps involved in AML processes – with greater speed and accuracy than ever before. With SAS, you get:
- Supercharged scenario tuning and what-if analysis. High-performance analytics are fully integrated with supercharged scenario tuning and what-if analysis, enabling business analysts to test, tune and simulate scenarios in seconds instead of hours to improve scenario efficacy while adhering to model governance best practices.
- Predictive alert analytics. Only SAS uses predictive alert analytics to significantly reduce false-positive alerts and to more accurately identify actions and relationships that present the greatest risk to the institution.
- Depth and breadth. No other solution lets you monitor more transactions and more risks in less time. With SAS, you can process more than 2 billion transactions in a single night, and the system is powerful enough to run multiple scenarios and risk factors without any performance degradation.
- Faster implementation. The solution includes a banking-specific data model optimized for financial crimes analytics and incorporates data management best practices from more than a hundred successful implementations to get you up and running quickly.
- A common technology platform. All financial crime solutions from SAS are built on a common technology platform to ease the sharing of data and analytics, while reducing administrative costs.
- Part of the SAS Financial Crimes Suite. SAS High-Performance Anti-Money Laundering, with enhanced scenario tuning and what-if analysis, is an integrated component of the SAS Financial Crimes Suite, which dramatically increases the efficiency and effectiveness of investigations.
Benefits
- Monitor more transactions in less time. High-performance capabilities dramatically reduce scenario time frames from hours to minutes, so investigators can more expediently identify and focus on the most critical cases. In addition, because array processing lets you monitor multiple risks during a single pass of the data, you can add numerous scenarios with little to no impact on processing time.
- Improve the quality and accuracy of alerts. Predictive alert analytics automatically scores alerts prior to passing them on to investigators, which reduces staffing hours required for alert triage and ensures that investigators spend their valuable time on the alerts that pose the greatest risk. This approach provides an objective and consistent means for escalating alerts to investigators, which reduces your audit and regulatory risk.
- Enhance investigation speed and effectiveness with a faster, better review and decisioning process. An intuitive interface gives investigation staff rapid access to customer, account and transaction data. The configurable alert management hub provides a holistic view of work items, enabling faster triage and more timely risk mitigation.
- Identify organized crime rings. Entity link analysis enables you to develop comprehensive customer risk profiles that incorporate all cross-channel account activity. By visualizing the cross-channel account activity of a network of account holders over any time period, you can identify – and prosecute – organized rings.
- Reduce AML compliance costs. Alerts are scored automatically prior to routing them for investigation, which greatly reduces the number of false-positive alerts and enables investigators to spend more time on more critical alerts. In addition, reduced processing time frees computing resources for other uses, thereby reducing the total cost of ownership.
Features
- Data management
-
- A banking-specific data model:
- Maps transaction records to support transaction, account, customer and household dimensions.
- Includes the core schema for preparing data for nightly batch analysis.
- A knowledge center data schema supports data retention and investigation.
- Support for multiple data types (nonmonetary event data, geographic data, risk lists, third-party data, associate data and a variety of customer information data) in addition to transaction data.
- A banking-specific data model:
- High-performance analytics and visualization
-
- Stress testing capabilities enable operations analysts to estimate the impacts of full enterprise coverage.
- Scenario builder lets business analysts test, tune and simulate scenarios in seconds instead of hours to improve scenario efficacy while adhering to model governance best practices.
- Rapid access to customer, account and transaction data.
- Suspicious activity monitoring and reporting
-
- Automated workflows apply scenarios and risk factors to transactions to detect potentially suspicious activity.
- Alert generation.
- Alerts are generated for events that meet rule parameters.
- Alerts are put through additional workflow processes (e.g., suppression, risk scoring and routing).
- Easy-to-use, point-and-click interface enables:
- Easy creation and modification of scenarios and risk factors.
- Creation of customized routing rules for distributing the workload to compliance analysts.
- Customer due diligence/know your customer risk scoring and classification
-
- Automatic integration of onboard customer risk scores with actual transactional behavior.
- Reassessment of customer risk classifications either manually or upon periodic review.
- Documentation of information gathered during enhanced due diligence for a more accurate view of money laundering risk.
- Watch-list matching
-
- Importing of sanctions and other watch lists to identify persons, organizations or high-risk jurisdictions that represent regulatory risk.
- Fuzzy matching logic increases the accuracy of entity matches.
- Transaction, party or counterparty matching lists can be worked as alerts or cases.
- Combined functionality with the Dow Jones Watchlist service provides leading compliance risk information in a format designed for automated screening and risk management.
- Investigation/alert management
-
- Web-based investigation interface gives analysts easy access to the knowledge center database, which serves as the system of record for regulatory and auditing purposes.
- Administrative tab enables "super users" to grant rights and privileges to other users.
- Displays alerts generated by other transaction monitoring systems.
- Exports alerts generated by the system to third-party case management systems as needed.
- Compliance analytics
-
- Proven compliance analytics methodology uses predictive models to score the likelihood that an alert will contribute to a productive investigation.
- Throughput is governed by analytic models, which reduces the need to tune individual scenarios.
- Deploys generalized models initially, and then re-scores models against your organization's data after the system is up and running.
- Integrated case management
-
- Web-based user interface supports the management, investigation and reporting needs of analysts and investigators.
- Documents and retains all actions performed on alerts and cases for audit and regulatory review.
- Automatic identification of alerts that may be related to existing cases.
- Regulatory report generation
-
- User-friendly, central regulatory reporting console enables easier review, submission and management of multiple types of regulatory reports (SARs, STRs, CTRs).
- Easy editing or correcting of prior regulatory filings.
- Supports new e-filing processes, including error handling.
- Ensures consistent processes for SAR, STR and CTR filing.
- Supports multiple forms and languages to accommodate varying jurisdictional requirements.
- Captures response codes, error codes, etc., from government financial intelligence units.
- Supports new FinCEN forms.
- Centrally manages SAR access privileges to ensure confidentiality.
Screenshots
Alert details tell you how and why an alert was generated and provide contextual information about the alert.
Risk assessment details help you accurately assess the risk that particular customers pose to your institution.
Submit reports electronically through the regulatory reporting console.
SAS Anti-Money Laundering lets you run suspicious activity reports and submit them electronically through the regulatory reporting console.
View alert information on the home screen.
The SAS Anti-Money Laundering home screen displays alerts, their causes and their severity scores.
Ready to learn more?
Call us at 1-800-727-0025 (US and Canada) or request more information.
