Objective

To provide ongoing transaction monitoring support to a global financial services organization on Anti-Money Laundering and design processes to reduce and manage false positives.

CRISIL's Solution

The CRISIL team provides ongoing review of alerts triggered by the Anti-Money Laundering-Transaction Monitoring system (AML-TMS) to detect potentially unusual or suspicious pattern of transactions, including:

• Production and delivery of Suspicious Activity Reports (SAR) of suspicious cases for regulatory purposes;
  
• Identification of scenarios resulting in false positives and processes for effectively automating resolution;
  
• Provides 100% quality within the Turn Around Time (TAT) \ Service Level Agreement (SLA) with effective closure & potential escalations.
  
  

Client Impact

• Effective monitoring of the AML-TMS system protects client from reputational loss and regulatory charges/fines
  
• Significant cost reduction through effective process streamlining/automation
  
• Risks associated with failed segments were quickly mitigated
  
• Coverage redundancy reduced due to improved segmentation and scenario tuning
• False positives reduced by 5% due to threshold tuning

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Questions

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