AML: Delivering a High-Performance AML Evaluation Framework for a Japanese Bank

The Client

The client is one of the biggest banks in Japan.

The Challenge

The client’s correspondent banking division needed capabilities to track and detect money-laundering activity. Anomalies had to be assessed for money laundering risk based on the client’s risk methodology. Traditional solutions available in the market were not capable of addressing the scale and performance needs.

The Solution

Core Compete deployed SAS Anti-Money Laundering solution for this bank. We customized the solution leveraging the SAS platform to be able to process data at scale. The solution provided out of the box scenarios for standard money-laundering and transaction monitoring scenarios.

Highlights

  • Highly extensible AML Risk Evaluation Framework with multiple peer group comparisons to flag anomalous behavior

  • Highly efficient computational paradigm to support risk evaluation for multiple entities and attributes

Core Compete in Action

Core Compete designed and deployed a solution with an extendable framework and architecture to create various levels of transaction pattern comparisons to the Peer groups.

The bank had to be provided with a highly efficient computational paradigm which was customizable. The solution had to be enabled to work with different combinations of entities and attributes.

The Result

The client now complies with AML regulations and is leveraging a customized solution to detect significant money laundering risk in the correspondent banking division. Core Compete was able to design, develop and deploy the needed capabilities in just 12 weeks.

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