Anti-Money Laundering

Decrease regulatory risk, reduce false positives and increase efficiency

In the decade since 9/11, financial institutions worldwide have invested heavily in best-of-breed AML monitoring solutions. In fact, an institution's AML program is one of its most scrutinized risk management functions. Institutions, trade groups and regulatory bodies continue to recognize the need to integrate data and processes from security, fraud and compliance functions to form a more efficient platform for managing financial crimes risk.

" 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 by incorporating all institutional knowledge – including past customer behavior, expected behavior and known CIP information across all accounts.
Guard against system obsolescence with a proven data model that 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 by applying scenarios and risk factors to transactions and automatically generating 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 with an automated risk-classification process that risk-ranks alerts based on every customer transaction across every account and makes available all supporting data in the decision process.
Rapidly aggregate alerts into a case for further investigation using a Web-based investigation interface that supports the management, investigation and reporting needs of AML analysts and investigators, and automatically documents and retains actions pertaining to a case for audit or regulatory review purposes.
Gain more insight into trends in customer behavior by using business analytics to generate ad hoc queries and reports or powerful data mining capabilities 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. With SAS, you can easily understand AML monitoring processes. All scenarios and risk factors are clearly documented to explain the business logic used to generate work items, and contextual "red flags" indicate why one event is considered riskier than another.
Adaptability. The SAS solution is adaptable to your institution's individual risk profile. Scenarios and risk factors are driven directly from the bank's AML risk assessment and can be easily changed as your institution's risk exposures change.
Depth of coverage. While a bank's AML program is typically measured by its ability to capture known suspicious activity, 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, enabling you to monitor more risks with fewer redundant hardware resources while ensuring that data governance and compliance policies are followed.