AMLex365 – Anti money laundering Solution
AMLEX 365 AML Risk Assessment Tool
In recent years the regulatory scene has advanced to unparalleled levels. Governments worldwide and regulators have grown increasingly demanding on their regulatory requirements and recent reinforcements have indicated that AML Laws and regulations are not here only to stay but become more and more stringent.
The recent issue of the 4th Directive and proposals for the 5th Directive placed increased emphasis on the application of customer identification and due diligence procedures on a risk sensitive basis and in a dynamic manner and requires entities to develop a thorough understanding of the inherent risks present in all different elements of its business including but not limited to its customer base, products, services offered, delivery channels and countries of operation.
AMLEX365 is the most comprehensive online and web-based solution in the market today built with highest levels of AML expertise that fulfills all compliance requirements and allows enterprises to determine the risk level of their customers. This makes the solution the critical tool for Compliance Officers for effectively complying with the AML law and regulations. AMLEX 365 it is the only tool which is ISO 27001 compliant offering the highest levels of data security in a batch processing mode.
AMLEX 365 allows reseller capabilities to organizations that intend to trade this solution.
AMLEX365 is an automated AML risk evaluation software for rating the risk of potential or existing customers. It is is built with the features of a Dynamic Risk Based Tool that is in line with the most recent regulatory requirements and at the same time takes into consideration the relevant global industry leading practices. It is the only software that analyses the risk of the customer into 4 classes being Low, Normal, High and Very High and thus allows Compliance Officers to concentrate efforts in monitoring a class of customers which may require special attention due to the customer characteristics and/or transactions they carry. The software is compatible with AML4D and AML5D Directive requirements. It is built into taking into consideration parameters such as the customer’s profile, customer’s economic profile, customer circumstances, business type, whether an individual such as the UBO is a PEP, customer’s source of wealth, the organization’s source of funds, purpose of transaction, expected type of transactions and many more.
Compliance is achieved by risk-based Assessment performed through both a batch import of all customer data and one to one evaluation of on board customers. The evaluation built is based on advanced scoring and metrics models. In addition, our solution provides a risk analytical score report and a detailed economic profile of the customer with all the information required by Regulators.
Further the tool is built with online transaction monitoring process which alerts the compliance officer of all non-expected, non-ordinary transactions which do not comply with the economic or overall profile of the customer.
AMLEX365 is a fully flexible system that can accommodate and comply with requested pre-requisites and in-house requirements of every company.
The system is modular and capable of talking to other systems. Other compatible compliance modules are: PEP and sanctions screening, a UBO register screening as well as ID authentication. The system will soon offer a FATCA/CRS module.