Anti Money Laundering, Data Collection and Reporting

Anti Money Laundering,Data Collection and Reporting

• Information Technology Service External Systems Unit

• Global Programme against Money Laundering

Money Laundering/Terrorist Financing – The World’s Response

• Establish a global environment hostile to money laundering and terrorist financing

• Implement international standards including the FATF 40+9 recommendations

• Establish Financial Intelligence Units around the world

• Establish protocols and platforms for sharing intelligence and evidence

• Secure technical assistance for countries to implement international standards

• Uniform and standard AML platform - desirable

Anti-Money Laundering Process

Three essential components of an AML/CFT regime:

• A functional compliance culture

• Functional regulatory bodies – central Bank, SEC, Insurance Regulator etc

• An effective financial intelligence unit tasked with:

• The above processes ideally should be automated particularly if they involve high data volumes

From Start to Finish

goAMLgoAML goCASE

• Designed as a modular system to fit the needs of any FIU irrespective of size

• from a single computer with a few thousand processes - up to 500 million processes over 5 year period irrespective of file size

• Processes and analyzes reports on:- Suspicious transactions- Financial transactions – of any type- List or alert based reports – CFT etc

• Fully electronic data collection and dissemination from any source such tax, law enforcement records, immigration service (passenger movement records), property registrar, vehicle registrar etc….

goAML – global Operations Anti-Money Laundering

goAML – Collecting and Managing Information

Reporting standard defined:•XML based (world standard format)•Samples available for FI IT Personnel•Exhaustive documentation available

Validation application:•Checks for valid XML•All required fields are present•Data types are correct•Ensures reporting entities report

in the correct format from day 1

goAML – Gathering and Managing Information

Secure website (SSL 512 bit encryption) for:

• Creating reporting entities- by the FIU

• Creating contacts

• Changing contact details- by the reporting entity

• Report upload

• Report data entry- manually if necessary

• Report verification- clean up by system

goAML – Gathering and Managing Information

• Report History

- what reported

- accepted/rejected ref number

• View uploaded report

- Individually

• Submission status

- accepted/rejected

• Common content for any reporting entity

- flexible

- secure information from FIU

- compliance circulars

- alerts

- name lists

goAML – High Volume Analysis

• Support analytical and investigation teams with highly sophisticated reporting capabilities.

• Visualize large volumes of data to help understand the big picture.

• Monitor potentially suspicious accounts.

• Reveal patterns and hidden connections.

• Create analytical charts manually or automatically.

Workflow for STR analysis

• Tasks and the process diagram are defined by the FIU users

- can change to suit their own needs- full visual designer

• Task assignment and tracking- within FIU- push or pull reports by e-mail

• Integrated reporting- workflow reports - assignments- progress- results

goAML – Collecting, Managing and Analyzing Information

• Integrated source tracking- tracks externally sourced information - creates bring-ups, reminders etc

• Automatic resource scheduling- automatically assigns tasks- monitors workloads- measures outputs/performance

• Case feedback integration- Produces standardized feedback- reports as word documents

goAML – Collecting, Managing and Analyzing Information

• Customizable data gathering templates- standardized format for receipt of information

from outside agencies that decides transmission medium (email/fax/post)

• Time in flight analysis- Time management measure

goAML – Collecting, Managing and Analyzing Information

• Common user interface across analysis screens

- screens look and feel the same- supports multiple languages

• Workspace based (keep information through different reporting sessions)

- two work spaces available at any one time

- previous work automatically saved

- supports text, tables, merged tables, pictures

goAML – Analysis and Targeting Solution

• Analyst can retrieve, filter and re-arrange the data accordingly to his/her needs.

- Rearrange data fields- Change grouping- Filter data- Change data sorting- Save layout- Export

goAML – Analysis and Targeting Solution

• Linking to other screens from current screen

• Allows easy comparison of different accounts, persons or entities

• Each window acts independent of others

• Copy fields or rows

• Makes analysis easy

• Very easy to learn

• All these components have restricted access

goAML – Analysis and Targeting Solution

goAML – Analysis Trails Link charts association charts – transaction flow charts etc

• Money and person trails for inbound and outbound transactions

• Trail for duplicated addresses, phone numbers and other identification data

• Displays: - source and destination displayed as nodes- direction and amount displayed as arrows

goAML – Analysis - Pivots

• Reports offer many different views of data under analysis

• Allows for dynamic user filtering and grouping of related data

• Allows for searching for TOP targets - 5/10/50 etc

• Flexible data search capability

• Simple integration with Excel- excellent for net worth analysis- ease of attachment to intel

reports- arrives live so can be manipulated by receiver

goAML – Analysis - Intersect

• Combines data from two different reports - User chooses the two reports populated with data and the

columns to intersect

Result is displayed in a completely new window with the intersected data

goAML – Information Dissemination

• Suspicious activity detected

• Open a new case – analysis output attached

• goCASE picks this up

• Export case to MS-WinWord- Case file remains with FIU- Output in the form of Intel report- Sanitised to the level required by the user

goAML - User and role based functions

• Management: Is able to check the submissions and the status of reporting entities. - performance measure/compliance

• Analyst: Responsible of conducting the analysis, finding suspicious activities and linking to similar-patterned cases where they exist - analysis

• Administrator: Allowed to add new user, give/revoke access to screens and different actions.

Access to certain actions is dependant on the user’s role!

goAML - Security

• Username and password required to access applications.

• Access can be granted and revoked per:- User- Screen- Certain actions like copy, export etc.

• Access to screens and data is logged.

• Data partially encrypted in the database.- Encryption level and extent at the discretion of the user

goAML - Security

• Access to the system generally or to any part of it at the discretion of the user – the user must “open the gate”

• UNODC does not hold private key – cannot decipher encrypted data

• Rule engine secure

• Database and system tools installed on the user’s premises, UNODC has no independent access

Impossible is not a fact, only an opinion

Thank you!