The Central Bank of the United Arab Emirates (CBUAE) has recently issued new guidance to help Licensed Financial Institutions (LFIs) with their Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) statutory obligations under the legal and regulatory framework in force in the UAE.

As the CBUAE embarks on this complex and crucial task of enhancing its national AML and CFT framework, Clari5’s Real-time Anti-money Laundering system provides the right solution to support LFIs on their journey to compliance with their AML and CFT obligations.

TRANSACTION MONITORING

Real-time Enterprise Fraud Management

Risk Assessment and Risk Control

  • Risk Assessment
  • Risk associated with Business(Customer)
  • Risk associated with transactions
  • Monitoring & Control
Comprehensive, Real-time Anti-Money Laundering Solution

Data Identification and Management

  • Data Source
  • Data Management
  • Trend Analysis
  • Behavior Analysis
Real-time Customer Experience Management

Defining rules, Alert Scoring and Prioritization

  • Rule Definition or
    Scenario definitions
  • Risk based customer
    segmentation
  • Reduce False positives
  • Alert scoring
  • Prioritization

HOW CAN CLARI5 HELP WITH TRANSACTION MONITORING?

  • Integration with multiple source systems like Core Banking Systems, Trade Finance Systems, 3rd party Data providers etc.
  • Comprehensive Risk Scoring framework using Demographic profiles, Geographic, Product Subscriptions, Transactional behaviour profiles, Watch-list Matches, CTR/STR filed, etc
  • Synthesizing Intelligence from multiple sources including Transactional Data, Customer/Account Master data, Individual Behavior Profiling of an entity to arrive at a transactional risk score
  • Real-Time Transaction Blocking/Holding and Alert Generation for suspicious Payments transactions in real-time based on defined business policies
  • Built-in Investigation Tool to drill down into individual customer and account details, transaction behaviour and various regulatory reports filed

SANCTIONS SCREENING

Real-time Enterprise Fraud Management

Risk Assessment and Risk Control

  • Risk Assessment
  • Risk associated with Business(Customer)
  • Risk associated with transactions
  • Monitoring & Control
Comprehensive, Real-time Anti-Money Laundering Solution

Data Identification and Management

  • Data Source
  • Data Management
  • Trend Analysis
  • Behavior Analysis
Real-time Customer Experience Management

Screening Program

  • Name Screening
  • Transaction Screening
  • List Management
  • Reporting

HOW CAN CLARI5 HELP WITH SANCTIONS SCREENING?

  • Comprehensive Risk Scoring framework using Demographic profiles, Geographic, Product Subscriptions, Transactional behaviour profiles, Watch-list Matches, CTR/STR filed, etc.
  • Synthesizing Intelligence from multiple sources including Transactional Data, Customer/Account Master data, Individual Behavior Profiling of an entity to arrive at a transactional risk score
  • Support for Online and Batch Screening for one-to-one screening of on-boarding customer or end-of-day batch file processing for legacy applications
  • Payments Screening Rule Definition for mapping various Payments Systems, message types, tags to various watchlist configuration system
  • Automated Reporting and Regulatory Filing (GoAML) with minimal intervention required from investigation team to fill in other relevant report information

CLARI5 MODULE

Real-time Enterprise Fraud Management

Customer Risk Categorization

Fully supported in Clari5 with
score card based automated
customer risk categorization

Comprehensive, Real-time Anti-Money Laundering Solution

Suspicious Transaction Monitoring

Supports 70+ scenarios for
real-time suspicious
transaction monitoring

Real-time Customer Experience Management

Sanctions Screening

Sanction List Data (UN, OFAC,
PEP), Internal Lists, High-risk
Countries, Criminal Database

Real-time Enterprise Fraud Management

Case Management System

Fully supported in Clari5 with
advanced Workflow
management capabilities

Comprehensive, Real-time Anti-Money Laundering Solution

Regulatory Reporting

Fully supported in Clari5 with
integrated reporting platform

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