Fabtech AML
In-House Anti-Money Laundering Monitoring Software
Fabtech AML is our in-house developed, comprehensive monitoring software system designed to assist financial institutions with compliance to Central Bank regulations, detecting suspicious transactions before they become a problem.
Overview
Anti-money laundering (AML) software is a type of computer program used by financial institutions to analyze customer data and detect suspicious transactions. By maintaining a knowledgebase of transaction activity, Know Your Customer (KYC), and Enhanced Due Diligence (EDD) information, Fabtech AML uses account profiling and behavioral patterns to detect both money-laundering and fraudulent activity.
Monitoring is performed on transaction activity using both rules-based and statistical-based methods to detect abnormal behavior and trends in expected activity. Persons can be related to clients and non-clients, allowing the system to analyze and track suspicious transactions among parties with entities in common.
How It Works
Embedded Workflow & Case Management
Using embedded workflow technology, the system can be deployed either centrally in the BSA Department or across the branch network, so account and relationship managers can participate as users and contributors of information. When alerts are generated, they are automatically sent to individuals for review as designated by BSA compliance procedures. A fully featured case management process allows for the grouping and filing of events to facilitate special investigations and the filing of Suspicious Activity Reports (SARs).
Systematic Risk Assessment
The system helps assess the risk of every account systematically, both at the account and customer level, based on risk matrices configured in accordance with the risk policies of the bank.
Key Modules
Transaction Monitoring
Continuously monitors transaction activity to identify abnormal behavior and money-laundering patterns.
Currency Transaction Reporting (CTR)
Generates the currency transaction reports required for regulatory compliance.
Customer Identity Management
Maintains KYC and EDD information to verify and manage customer identities.
Compliance Management
Supports BSA compliance procedures, case management, and SAR filing from a single system.
Key Benefits
🔍 Smarter Detection
Rules-based and statistical methods work together to flag abnormal transaction behavior early.
⚖️ Regulatory Compliance
Built to help financial institutions meet Central Bank and BSA compliance requirements.
🔗 Relationship Mapping
Links clients and non-clients to uncover suspicious transactions among related parties.
📁 Streamlined Investigations
Case management groups and files events to speed up special investigations and SAR filing.
Strengthen Your AML Compliance
Talk to us about deploying Fabtech AML across your BSA department or branch network.