SAS Indonesia Drives Optimization of Detection Analytics to Combat Money Laundering

Today, SAS Indonesia has held a roundtable session, with ‘Anti-Money Laundering Optimization’ as the theme, where Alexon Bell, an international Anti-Money Laundering & Compliance expert from SAS, Indonesian Financial Transaction Reports and Analysis Centre (PPATK), a representative from Deloitte, and Indonesian banking practitioner participated in the event as keynote speakers.

“AML is a big data problem requiring different approaches to data and analytics to make controls effective. Complexity is increasing, whilst transaction volumes, regulations and technology put pressure on existing operations, budgets and priorities. The solution is not necessarily to rip and replace legacy systems, but taking advantage of more modern technologies, coupled with a pragmatic co-existence approach, can give rise to significant benefits in the form of risk mitigation and operational cost savings” said Alexon Bell, Compliance Solution Director for SAS.

Money laundering and terrorist financing is a crime that is taken seriously by Indonesian government and its various institutions. With enhanced regulations from Financial Services Authority (OJK) and Indonesian Financial Transaction Reports and Analysis Centre (PPATK) driving financial institutions to implement anti-money laundering and combatting the financing of terrorism, PPATK urge the financial institutions to submit their transaction reports in an accurate way with critical time, increasing the complexity of compliance obligations. With the increasing complexity of compliance and regulations, Indonesian financial institutions inevitably need to optimize their advanced analytics strategy and AML investment.

With SAS Indonesia’s ongoing commitment to helping financial institutions comply with anti-money laundering and counterterrorist financing regulations, while optimizing business operations and maximizing their AML investment, this event discussed how advanced analytics and innovative approaches can be used to combat money laundering and improve current compliance capabilities and systems, without disruption to operation.

"Detection analytics is the key to combatting money laundering and financing of terrorism, without disrupting business. SAS Anti-Money Laundering provides a cross-channel view of financial crimes risk to speed up the investigative process and generate high-quality alerts for more effective investigations," said Peter Sugiapranata, Sales Director for SAS Indonesia.

Crowned as the best compliance and anti-money laundering solution by RiskTech Quadrant and Waters Ranking , 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 – including customer due diligence, suspicious activity monitoring, watch-list filtering, FinCEN e-filing support and case management. Through enhanced scenario tuning and what-if analysis, SAS Anti-Money Laundering helps customers dramatically reduce the time – from hours to minutes – it takes to provide investigators the relevant information, conduct preliminary analyses and identify areas that need further attention, such as suspicious transactions or unusual patterns. This gives them more time to focus on the most critical cases.

i Chartis' Anti-Money Laundering Solutions 2013 RiskTech Quadrant™ report
ii 2013 Waters Rankings program oleh Waters Magazine

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