Anti-Money Laundering

The Challenge

In today's complex and challenging financial environment, banks need an effective solution to filter transactions and customers against watch lists. Equally as important is meeting the requirements of national and international AML laws and regulations including FATF recommendations, UN resolutions, the EU anti-money laundering directive, and the U.S. Patriot Act. Screenings of sanction lists are thus vital to protect banks against money laundering and to help them comply with regulations.

International regulatory pressures to combat money laundering and terrorist financing have intensified at an unpre-cedented rate. Due to the nature of financial services, detecting and preventing financial crime is becoming more and more complex. Compliance professionals are thus looking for better and more cost-effective strategies. With a customer-centric focus, EastNets has developed solutions to address these specific challenges.

Today, major regulations impose a KYC solution on the Banks (FATF Recommendations, 4th EU Directive on AML/ CTF regulations, USA Patriot Act and other country- specific regulations). KYC standards not only apply to new customers, but also to existing customers. The directive to know whom you are doing business with, and ensuring the lawfulness and compliance of those parties, is more critical and more tightly regulated than ever before. A comprehensive KYC solution can help you streamlining the process of monitoring customers in an efficient and cost effective manner. Moreover, it guarantees compliance with Money Laundering and Terrorist Financing (ML/FT) directives.

Our Solution

en.SafeWatch Filtering is a web-based solution composed of a series of tools targeted to AML detection in real time and batch mode. With a highly-sophisticated matching engine, en.SafeWatch Filtering aims to be the central checking point for an institution's financial traffic. Having a single detection point helps compliance officers and auditors to have only one interface where alerts from all sources are concentrated.
At a very high level, en.SafeWatch Filtering obtains information from data connectors. Captured data is then processed by the server and checked against all loaded lists through a rule engine. After execution of these rules, detections can be either ignored or logged. They can also generate alerts that are sent to the central alert management interface. Alerts are regrouped to allow compliance officers or other en.SafeWatch Filtering users to display alerts, verify details, and act on alerts from a single point.

en.SafeWatch Profiling is a rapidly deployable anti-money laundering solution with central data processing, trend analysis and suspicious behavior identification engine that provides a robust, effective and easy-to-use transaction and customer monitoring solution that is configurable and flexible to adapt to new risks and regulations. en.SafeWatch Profiling is unique in its powerful data analytics and visualization capability, powered by IBM en.SafeWatch Profiling also offers a set of predefined rules based on KYC controls, transaction monitoring, account behavior monitoring, relationship monitoring and counterparty activity monitoring.

EastNets' en.SafeWatch KYC helps Financial Institutions identify, verify and monitor their customers. This automated system seizes, organises and stores customer information. It includes a scientific risk scoring methodology that allows the user to assess the risk associated with an account, and to define the level of risk, allowing for an effective customer due diligence process. With en.SafeWatch KYC, Banks can save time on new customer onboarding and keep track of existing customer information as well. This accurate and cost-effective solution provides results in real-time and protection against unwanted risk and exposure. Concretely, a KYC form is completed in the en.SafeWatch KYC system and then transmitted to the core banking system. It could also be initiated in the core banking system before being transmitted to the en.SafeWatch KYC. For existing customers any change or update in the customer information is reflected in both systems.

Anti-Money Laundering Solutions

Meet today's complex regulatory and payment challenges with EastNets flexible, configurable, and globally recognized anti-money laundering software used today by over 600 financial institutions and corporates worldwide.

Real-Time Web-Based Watch List Filtering

With EastNets top ranked en.SafeWatch Filtering compliance solution, customers will get the following key benefits:

  • Manage and Control Risk in Real Time
  • Ensure Compliance with AML Laws and Regulations
  • Control Costs with Rapid Deployment and Implementation
  • Reduce Workload and Increase work efficiency with Reduced False Positives
  • Streamline Processes and Improve Operational Efficiencies

Transaction Monitoring AML with powerful Analytics and Visualization Capabilities

EastNets Transaction Monitoring Solution en.SafeWatch Profiling main features:

  • Automatically detect suspicious activity using rule-based and behavior-based logic.
  • Offers Advanced Visualization: a powerful tool that allows users to display in an interactive graphical representation the connections between customers and accounts, as well as that between customers and other customers making it easier and more practical to understand and analyze the underlying relationships.
  • Provides built-in case management, regulatory reporting and audit capture capability
  • Complies with local and international regulations through a flexible scenario generation module
  • Uses a Risk Based approach for customer and account segmentation
  • Accommodates diverse investigation practices into the solution's workflow

Optimal protection with en.SafeWatch Filtering and Dow Jones

Dow Jones Watch lists provide the world's largest financial institutions and regulated firms with a high quality, well-structured risk screening solution for effective Anti-Money Laundering, Know Your Customer and Counter-Terrorist Financing compliance. With accurate and comprehensive global coverage of high-risk individuals and entities, you can fulfill regulatory requirements to the highest standards.Enhancements on en.SafeWatch Filtering allow you to capture Special Interest Entities (SIE) and Special Interest Persons (SIP) that are not previously listed on sanction lists nor PEP lists. It also allows you to load adverse media Entities and and Relatives and Close Associates of PEPs. Download Factsheet below for more information

Key Features

1. Key features of en.SafeWatch Filtering

  • Ensure Compliance with AML Laws and Regulations
  • Maintain a Low False Positive Rate
  • Control costs with rapid deployment and implementation
  • Ensure smooth and seamless integration with existing systems & applications Comprehensive list support: In-house, EastNets provided lists services, and reputable vendors lists (Dow Jones, World Check, World Compliance, Accuity)

2. Key features of en.SafeWatch Profiling

  • Risk-Based Behavior Monitoring
  • Customizable Parameters to Reduce False Positives
  • Advanced Link Analysis and Visualization Powered by IBM
  • Holistic View through an Interactive Dashboard
  • Dynamic Reporting Module
  • The Ability to choose and create your own Scenarios

3. Key features of en.SafeWatch KYC

  • Real-time Data Share with your core banking system.
  • Effective and Ongoing Client Due Diligence
  • Comprehensive Customer Risk Repository
  • Ongoing Customer Risk Monitoring
  • User-Friendly Interface Flexible, Adaptable and Customisable
  • Flexible, Adaptable and Customisable

Our Product with Bank Central Asia Tbk

1. Overview

  • The concept of this application is for performing the process of checking the identity of the costumers's name on the operation
  • The application is application base on web that connected with SafeWatch Filtering application using the API SafeWatch
  • The application can be used and accessed by user in all distributaries in Indonesia
  • Using blacklist data checking application which has been installed before is SafeWatch Filtering Application

2. Features

The application is designed and can perform things, as follow:

  • Sending a request message from scanning coloumn that available in UI NameChecker application to safewatch filtering application via API.
  • Delivering the response message scanning proccess via API, then inputed to database and will be showed on application
  • Running filtering data process online via API.
  • Showing data report within a certain time span with print out feature