Upgrade your AML risk management with AML+
written by Natalia Molina, On April 24, 2023
As part of an adequate risk management, it is necessary to have a management system for the prevention of money laundering and the financing of terrorism, since this allows the detection and prevention of illicit activities, which in turn can reduce exposure to legal, reputational and financial risks.
→ To enjoy these functionalities it is necessary to have the AML management system from the annual starter plan and to purchase the AML+ extension.
These are the benefits and functions you will find📋
Transactional monitoring and automatic alerts
With Pirani you will be able to continuously monitor your customers' transactions and financial activities to identify unusual patterns or behaviors that may indicate suspicious activities. You can also set up alerts to be triggered when unusual transactions are detected, thus preventing money laundering and terrorist financing risks.
Learn more about how to create rules for transactional monitoring in this tutorial where I explain this topic in detail → How does transactional monitoring and automatic alerts work? AML+
In just a few steps you will be able to assess and define the risk level of your customers and counterparties with respect to their involvement in money laundering or terrorist financing activities. In this way, you will have a predictive risk model that will allow you to manage AML risks and identify customers and counterparties that may use your entity as an instrument to carry out unusual operations.
Learn more about how to create the scoring of your customers and counterparties, I leave you this tutorial where I explain this topic in detail → How does scoring work? AML+
Wait...you still don't use Pirani? 👀
Discover how simple it is to manage your AML risks with Pirani. Try our tool for 15 days FREE and tell me in the comments of the article what you think about the AML+ functionalities.
You will be able to prevent money laundering in your organization by grouping and understanding the characteristics of your risk factors in order to monitor and track their behavior and transactions to ensure that they are not involved in suspicious operations that promote money laundering, terrorist financing and the proliferation of weapons of mass destruction. This new section has a dedicated infrastructure that allows you to store the information independently and isolated to give it the security and care that the nature of the information needs.
Learn more about how to create segmentation models, I leave you this tutorial where I explain this topic in detail → How does the segmentation section work? AML+
Do you need more information about Pirani's AML+ functionalities? You can schedule here a virtual meeting with our expert staff to show you more about how we can support your organization in the processes of Transaction Monitoring, Warning Signals, Scoring and Segmentation for a better AML risk management.