The entire purpose of the AML-TRACE software is to detect & report any suspicious activity pertaining to financial fraud. Whether it’s money laundering, terrorist financing, securities fraud, or market manipulation, the accurate data made available by this solution helps SMEs take action and implement effective control mechanisms against the influx of black money in society.
It is no news that most crimes have a financial incentive at their core. So, hindering such proceeds is the best method to combat tax evasion, corruption, fraud, theft, & several other crimes. All this is done so that clean money flows across the economy in improving individual lives and society at large.
In this context, AML-TRACE compliance is not just a good thing to have but rather something fundamental to all organizations.
When it comes to compliance, it doesn’t culminate with just the monitoring of the customer’s initial onboarding process. This surveillance needs to be done on an ongoing basis. AML-TRACE has customizable features to monitor all transactions for ensuring that fraud is not committed. It is a tamper-proof software that minimizes the scope of money laundering or terrorist financing funds entering into a company’s revenue stream.
When implemented exhaustively at the micro-level, this solution ensures that clean money may enter the economy. What’s best? It not only increases the flow of clean money but is also an active agent in purging society of dirty money. That’s because all actions performed on cases are recorded & retained for audit and regulatory review purposes.
So, all stakeholders can devise strategies and take effective steps to practically remove the scope of any financial fraud through AML-TRACE. In this way, it supports the investigation, AML Reporting, and management needs of the firm’s compliance analysts and investigators.
There are some situations or activities to watch for in terms of legitimizing illegal funds. See if AML-TRACE records patterns of unusual activities, such as:
If you wish to know more about how you can benefit from using AML-TRACE, drop an email at firstname.lastname@example.org or give us a call on +971 50 7724164. We’re always happy to assist you.