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Anti-money Laundering Regulatory authorities have been
bearing down on financial institutions to ensure that they are
not unwittingly hiding or moving criminal or terrorist funds.
Financial Institutions are already required to comply with regulations
from several authorities worldwide.
Key features
ACE's Solution
To offer ways and means to support these requirements,
ACE has developed OFAC Guard™ and AML Guard™ that utilize state-of-the-art
technology to enable organizations to meet these exacting requirements.
Message Filtering: OFAC
Guard™
It is a specialized module for compliance with
the OFAC Blacklist and other official blacklists like OFSI, FATF,
EU and any other country specific blacklist. There are severe
penalties for non-compliance. It is able to intelligently search
for SDNs (Specially Designated Nationals) through your payment
transactions and flag them before you process their transactions
thus avoiding Government penalties and confiscation of funds.
Suspicious Activity
Tracking: AML Guard™
This module intelligently captures suspicious
patterns in customer behavior that may be part of an illegal activity.
It allows an organization to continually track transactions so
as to be able to immediately stop an illegal transaction that
can later prompt regulatory authorities to impose fines and penalties.
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