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Latest SAS Anti-Money Laundering Release Streamlines Monitoring

March 18, 2008 - SAS released a new version of SAS Anti-Money Laundering.

 

Enhancements to SAS Anti-Money Laundering streamline the transaction monitoring process to be more customizable, efficient and accurate.

 

SAS Anti-Money Laundering now helps users to classify and manage risk throughout the customer lifecycle. Through a point-and-click interface, users can create risk classifications and risk lists and integrate them into the ongoing transaction monitoring process. High-risk entities can be monitored based upon their risk profile, which is the intention of a "risk-based approach" to AML compliance. The system’s most popular risk scenarios have been enhanced to support grouping across risk levels.

 

SAS updated the solution’s watch list management capabilities to support fuzzy name and address matching designation for specific geographic regions. SAS Anti-Money Laundering supports direct extraction from popular watch lists such as Office of Foreign Assets Control (OFAC), Bank of England, Office of the Superintendent of Financial Institutions (OSFI) and World-Check. This helps institutions improve the accuracy of name matching and reduce false positives. Additionally, enhanced dynamic performance management reports help compliance managers assess productivity and efficiency of monitoring processes.

 

Installed directly or through a SAS OnDemand solution, SAS Anti-Money Laundering is an AML solution that takes  information from all areas of a financial business, manages and refines that information and turns it into usable knowledge to automatically identify and classify potential suspicious behavior.


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