Anti-Money Laundering

It involves the comprehensive collection, storage, and organization of vast amounts of transaction data. This data can include customer profiles, transaction histories, and external data sources, allowing financial institutions to create a comprehensive digital footprint for every customer.

FraudAway applies predefined rules, algorithms, and ML models to detect suspicious behavior. In real-time, they generate alerts for transactions meeting specific criteria, enabling prompt action against potentially illicit activities such as large cash deposits or frequent international transfers.

Analytics Reports are crucial for both compliance and risk management. Analytics Reports allow financial institutions to assess the overall effectiveness of their AML efforts and meet regulatory requirements. They are also useful in predicting potential future threats, allowing institutions to proactively address them

it plays a role in streamlining the investigative process once an alert is generated. It helps investigators manage and document their findings as they delve into potentially suspicious activities. Every step of the investigation should be meticulously documented, creating an audit trail for regulators and internal review.