Anti-Money Laundering

Siron® Anit-Money Laundering solution enables financial institutions to efficiently counter money-laundering risks and events at all times and stages. Money-laundering risks are identified, classified, assigned to measures, and implemented for the check. Specific modules perform initial and continual risk classification of new and existing customers and provide due diligence tasks in the research system. The money-laundering alerts generated by this system are based on customer data and custom settings specified by the user according to the risk. Case management functionality supports the decision process from invalidating a suspicion to filing a suspicion activities report (SAR). Transactions are checked for relevance to international terrorism and may be stopped, whereas management cockpits enable governance, i.e. the company's targeted money-laundering control based on the classified risks.

In order to contain organized crime and protect the financial system against misuse, global standards have been developed and numerous laws passed (e.g. EU Money Laundering Directive, USA Patriot Act, Bank Secrecy Act, FATF 40+9 Recommendations) that are being made more rigorous on a regular basis.

Money laundering is a great challenge for financial institutions. These enterprises are under increasing pressure to completely disclose their business relations and to comply with the numerous statutory requirements.

An efficient IT-based check strategy becomes the decisive competitive factor for financial service provider. Apart from compliance with legal requirements, flexibility and low cost and time expenditure to maintain and update the money-laundering check procedure are critical factors.

  • Governance, Risk and Complaince
  • Comply with external and internal regulatory requirements
  • Identify, record, and process regulatory infringements
  • Achieve transparency in business relations
  • Identify and record business risks
  • Plan, initiate, and track measures
  • Take strategic decisions regarding risk and compliance
  • Business partner screening
  • Risk assessment of customers and partners
  • Automatic retrieval and check of the beneficiaries
  • Matching with watch lists & PEP databases
  • Interfaces to sanction and other public lists
  • Integration with existing systems
  • Coverage of all statutory requirements
  • Multi-clients and multi-lingual user interfaces
  • Standard modules and flexible adjustment options
  • Best-practice money-laundering check scenarios
  • Standardized and flexible interfaces
  • 100% audit-proof documentation
This solution is offered in partnership with FICO ™ Tonbeller®