Compliance and payment solutions provider Eastnets announced improvements to en.SafeWatch Profiling, its anti-money laundering solution.
Enhanced Risk Scoring allows financial institutions to monitor their customers according to the Financial Actions Task Force (FATF) Risk Based Approach. Vulnerabilities to money laundering and terrorist finance risks such as country of origin, client type and product or service category are identified, while a dynamic dashboard with interactive graphics offer a comprehensive view of suspicious transactions.
Cross-Checker functionality employs link analysis and visualization to profile customers and identify segments. Data from multiple sources can be centralized, allowing hidden relationships between organizations and people to be identified.
“Such functionalities will increase the financial institutions’ ability to make informed decisions in terms of complying with regulations and combating money laundering,” CEO Hazem Mulhim said. “As criminal activities get bolder and more sophisticated, financial service institutions must efficiently respond through implementation of cutting-edge solutions.”