AML/CFT legislation impacts businesses across all sectors, whether large banks or local leasing companies. Regardless of size, everyone has a part to play in disrupting criminal activity and keeping our communities safe.
As the costs, risks, and regulations associated with achieving compliance continue to steadily increase, reporting entities in every sector require cost effective solutions that are the right fit for their particular risk profile and business environment.
Investment firms, as well as wealth and funds managers, face a variety of complex challenges when it comes to their AML/CFT obligations. For one thing, the requirements, risks, and resources of every firm and every fund vary greatly.
Regulators in multiple jurisdictions have raised concerns that reporting entities in this sector may not have enough controls and operational mechanisms in place to detect and report on financial crime. And reporting entities are concerned about the rising cost of meeting their obligations. This cost is compounded by successful growth so it needs to be balanced with providing top notch service to customers.
But every reporting entity in the sector must comply with their obligation to conduct ongoing customer due diligence, transaction monitoring, and regulatory reporting. Excel spreadsheets and outdated systems aren't good enough any more.
Whether you're only processing a few thousand transactions a year, or you’re managing a high volume of customers and transactions, you can rely on Jade ThirdEye to help improve productivity, increase cost-effectiveness, and bolster your AML compliance programme.
Easy to use, flexible rules engine so you can monitor for different products, funds, typologies and behaviours.
What is transaction monitoring and what do I need to know about my monitoring risks? At a recent ACAMS virtual panel event, 3 specialists discussed this topic.
Learn best practices for creating, monitoring and optimising rules to make your AML compliance program the best it can be.
Explore how the flexible Jade ThirdEye solution helps organisations to achieve AML compliance.