Anti-Money Laundering Transaction Monitoring
Decrease regulatory risk, reduce false positives and increase efficiency
" We anticipate saving approximately $1 million annually through the adoption of predictive analytics to reduce low-value work items and improve the quality of investigations and SAR filings."
— Director of fraud and financial crimes for a large US-based bank
How SAS® Can Help
SAS provides end-to-end AML capabilities that can help you integrate data and knowledge about suspicious activity across the enterprise. With SAS, you can:
Provide unmatched depth of analysis in your AML program.
- Incorporate all institutional knowledge – e.g., past customer behavior, expected behavior and known CIP information – across all accounts.
Guard against system obsolescence.
- A proven data model supports transaction type, product, service, channel, account, customer and household dimensions, as well as the ability to import new data feeds.
Reduce false positives and enhance investigator performance.
- Apply scenarios and risk factors to transactions.
- Automatically generate alerts that are subjected to additional processes – e.g., suppression, risk scoring and routing – so investigators can focus on high-risk events rather than chasing all simple alerts.
Improve the effectiveness of investigations.
- An automated risk-classification process risk-ranks alerts based on every customer transaction across every account.
- All supporting data in the decision process is retained and made available.
Rapidly aggregate alerts into a case for further investigation.
- A Web-based investigation interface supports the management, investigation and reporting needs of AML analysts and investigators.
- All actions pertaining to a case are automatically retained and documented for audit or regulatory review purposes.
Gain more insight into trends in customer behavior.
- Advanced business analytics capabilities let you generate ad hoc queries and reports.
- Powerful data mining capabilities can be used to analyze alert and case aging, analyst productivity and high-risk activities.
How SAS® Is Different
The SAS solution was designed to exploit data and information from your fraud and security systems to reduce technology and investigation costs. With SAS, you get:
- Transparency. All scenarios and risk factors are clearly documented to explain the business logic used to generate work items. Contextual "red flags" indicate why one event is considered riskier than another.
- Adaptability. Scenarios and risk factors are developed directly from a bank's AML risk assessment and can be changed easily as your institution's risk exposures change.
- Depth of coverage. The SAS solution employs processes that go beyond traditional parameter-driven, rules-based monitoring systems and use more of your institution's own knowledge to identify potentially suspicious behavior.
- A centralized data repository. A single, consistent enterprise data warehouse lets you manage multiple subsidiaries from a central location. You can monitor more risks with fewer redundant hardware resources while ensuring that data governance and compliance policies are followed.
Related Products and Solutions
SAS® Financial Crimes Suite
SAS Financial Crimes Suite offers a common analytics platform and module-based solutions that provide solid protection against financial crimes by increasing the effectiveness and efficiency of detection and prevention efforts.
SAS® Anti-Money Laundering
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.
Ready to learn more?
Call us at 1-800-727-0025 (US and Canada) or request more information.