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  Anti Money Laundering (i-AML)  
 
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The Anti Money Laundering System put together by IDBI Intech is one state of the art application that gives the users unique features to effectively manage and prohibit money laundering in their organizations. The system that has been designed is quite robust and gives the users total control over its manoeuvring. The framework of this tool can be evolved based on the requirements of the clients, hence though highly customized; it can be designed to specifically treat unique problems.

This system has been designed using the modular structure where each of them has been specifically crafted to handle facets of money laundering. Its inbuilt Alert Scenarios provides tools to identify highlight or block suspicious and fraudulent activities. One can configure and selectively apply scenarios to different customer categories. It is also possible to filter Alerts on various parameters, view full background information on each, delegate analysis and supervise alert resolution. Alerts can be configured on the basis of customers, counterparties, regions, employees and branches.
 
Unique Features of the System
 
  Ability to populate global watch list of wanted people as well as domestic lists generated by local authorities.
  No intervention with the lists once it is pulled in AML.
  Unique Alert system
  AML can be applied in the in initial level and hence can be used as a first check for scrupulous banking activities.
  Centralized System, making the process of money laundering out of reach for the banking branches.
  Configurability
  Risk Profiling
  Effective reporting of suspicious transactions through executive dashboards
 
Watch list:
The watch list comprises of lists that are generated by government, local agencies, historical data that would reflect the names of the people who have been declared to conduct illegal money banking activities arising out of acts of terrorism, smuggling, extortion, prostitution, human trafficking, drug peddling etc.
 
        Flow of watch lists with the system
 
The watchlists are indicative. Multiple watchlists can be added into the system according to the banks’ requirement. These lists will depend upon the criteria’s defined by the country/banks. The transmission of the watch lists will be done through a secure channel providing it no scopes of data integrity and authenticity loss.
 
 
 
 
 
 
 
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