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The purpose of the AML rules is to help detect and report suspicious activity including the predicate offences of money laundering and terrorist financings, such as securities fraud and market manipulation.
Monitor and screen all transactions in real-time to enable holistic detection of financial crime (AML & Fraud)
Protect the integrity and stability of the international financial system, cutting off the resources available to fraudsters, and making it more difficult for those engaged in crime to profit from their criminal activities
Provide compliance teams with the ability to react to new risks with a no-code rule builder
Stay compliant with global AML reporting guidelines and regulations.
Spend more time investigating truly suspicious activities instead of sifting through false positives.
Use AI-powered investigation
Case management to uncover criminal Networks
TruAML works on four parameters: Know Your Customer (KYC), Customer due diligence, Customer and transaction screening, Suspicious activity reporting.
Financial Institutions must create an effective AML compliance program that meets the regulatory requirements and manages money laundering risks. Failures in the AML compliance program can result in punishment by the regulators.