SAS Anti-Money Laundering
SAS Anti-Money Laundering enables financial institutions to automatically monitor customers and counterparties for potential money laundering or terrorist financing behavior, document the decision process and – if applicable – file pre-populated regulatory reports with the appropriate authorities.
As an integrated component of the SAS Financial Crimes Suite, the solution provides a common technology platform for easier sharing of data and analytics, while reducing administrative costs.
Data Management • A banking-specific data model: o Maps transaction records to support transaction, account, customer and household dimensions. o Includes the core schema for preparing data for nightly batch analysis. • A knowledge center data schema supports data retention and investigation. • Supports 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. Suspicious Activity Monitoring and Reporting • Out-of-the-box dashboards – even on mobile devices. • Scenarios and risk factors applied to transactions to detect suspicious activity. • Alert generation for events that meet rule parameters. • Alerts subjected to additional workflow processes (suppression, risk scoring, routing). • Easy-to-use, point-and-click interface that enables: o Creation and tuning of scenarios and risk factors. o Creation of customized routing rules for workload distribution. • Flexible suppression capabilities. • Adaptive predictive alert rules identify when a model needs to be rescored and prompt the system accordingly. • Pre-populated reports for regulatory reporting. • Ability to easily operationalize processes.
AML Optimization • Predictive models score the likelihood that an alert will contribute to a productive investigation. • Event handling is governed by sophisticated analytic models, which reduces the reliance on individual parameter sensitivity. • Generalized models are deployed initially, then re-scored against your organization’s data after the system is up and running. Investigation and Alert Management • Web-based investigation interface provides access to knowledge center database, the system of record for regulatory and auditing purposes. • Administrative tab lets “super users” grant rights and privileges to other users. • Displays alerts generated by other transaction monitoring systems and exports system-generated alerts to third-party case management systems. • Global search allows for searching of multiple file-type attachments. • Extensive scenario tuning capabilities for investigator efficiency and reduced costs. • Scenario builder enables testing, tuning and simulating scenarios in seconds. • Correspondent banking scenarios and a relationship grid for assessing details associated with involved parties. • Ability to constrain scenarios by any data attribute – geography, account type, customer type, line of business, etc. • Powerful array processing allows multiple scenarios to be deployed while making a single pass against the data. • Ability to copy scenarios and quickly segment in seconds. • Parameterized scenarios for configuring thresholds to meet specific needs. • Rapid access to customer, account and transaction data. • A powerful ranking engine. • Nightly batch routines run against the core data schema, which includes account, party, household, cash flow, associate and CIP/KYC information. • Automated business process workflows, including detailed audit trails of activities performed within the system. • Self-serve data visualization with mobile access to get fast answers on critical questions. Integrated Case Management • An easy, web 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. • Automatically identifies alerts that may be related to existing cases. • Range-based or threshold-based alerts let people subscribe to reports and receive notices when a report changes. • Integration with SAS Office Analytics and SAS Add-In for Microsoft Office. Watch List Matching and Customer Due Diligence/KYC Risk Scoring and Classification • Automatic integration of onboard customer risk scores with transactional behavior. • Ability to reassess customer risk classifications as needed and deploy scenarios based on KYC risk segments. • Automatic documentation of information gathered during enhanced due diligence. • Includes samples that mirror examples in the FFIEC BSA/AML examination manual. • Ability to import 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. • Ability to create complex matching rules for a custom, risk-based approach to client screening. • Ability to work transaction, party or counterparty matching lists as alerts or cases. • Combines functionality with the Dow Jones Watchlist service.
Monitor more transactions in less time. With SAS, you can process your transactions in a single night, as well as test, tune and simulate scenarios in less time. Array processing lets you monitor multiple risks during a single pass of the data, so you can add numerous scenarios and risk factors with little to no impact on processing time – no matter how large your data volume. • Improve alert quality and accuracy. Our rules and weighting process scores alerts prior to passing them on to investigators. This significantly reduces false positives, cuts staffing hours required for triage, and more accurately identifies actions and relationships that present the greatest risk. • Conduct faster, more thorough investigations. A configurable alert management hub gives you a holistic view of work items, including the aggregation of alerts at the subject level. The intuitive, customizable interface provides fast access to all relevant information – including customer, account and transaction data – which speeds the review and decision process for more efficient triage. • Identify organized crime rings. With entity link analysis, you can visualize transactional relationships to understand the source of funds and behaviors that may indicate organized rings. • Reduce AML compliance costs. Fewer false-positive alerts mean your investigative resources spend less time processing exceptions without sacrificing coverage. And that means there’s more time available to focus on high-risk events and the handful of valid exceptions that need a human decision. • Get up and running quickly. SAS Anti-Money Laundering includes a banking-specific data model optimized for financial crimes analytics and incorporates data management best practices from more than a hundred successful implementations, enabling a faster implementation time.