Technology is one of a number of components in an effective global anti-money laundering (AML) compliance framework. By using current technology tools, organizations can improve their ability to mitigate financial crime risk. PricewaterhouseCoopers has created a set of proprietary AML automated tools and techniques that can help. These tools have been developed by our team of financial services, data, technology, risk and regulatory subject matter specialists. Our tools have gone through several iterations and benefit from the cumulative knowledge of our specialists. They are designed to help our customers meet their complex AML compliance challenges.
Our tools include:
- Computer Assisted Subject Examination and Investigation Tool (CASEitTM): A web-based tool that facilitates AML compliance, AML transaction monitoring, trade surveillance, operational risk and anti-fraud case management
- Customer Due Diligence Tool (CDD): Patent pending web based tool that acts as the single data entry point and risk rating for all existing and new customer and account data in support of Know Your Customer (KYC) requirements. Additional customer and account information captured includes, ultimate beneficial owners, officers/directors (non-individuals and financial institutions only), power of attorney, co-signers, and other related parties
- Name/Entity Matching: Sophisticated matching and scoring tools and techniques that improve the searching of account and transaction information across systems, regions and business lines to create one view of the customer or to improve the name/entity screening (e.g. OFAC, PEP, etc) and matching processes (e.g. 314a, subpoenas, NSL, ad-hoc searches, etc)
- Know Your Customer Quick Reference Guide: A user-friendly web based guide to anti-money laundering legislation and regulatory requirements for nearly 50 countries
