Developing Efficient Transaction Monitoring Processes with Limited Resources

10 December 2013 | 15.30 – 16.3010 December 2013 | 15.30 – 16.30

Moderator:

Ursula M'Crystal, Head of Money Laundering Surveillance, Global Financial Crime,

Standard Bank

Presenters:

Dr. Ana Cristina Hopffer Almada, Programme Manager, African Innovation Foundation

Solomon Kofi Dawson, Head, Compliance & AMLRO, uniBank Ghana LimitedChris McAuley, Director of Fraud & Financial Crime, Advanced Analytics Business

Unit (AABU), SAS

Developing Efficient Transaction Monitoring Processes with Limited

ResourcesResources10 December 2013 | 15.30 – 16.30

Dr. Ana Cristina Hopffer Almada, ProgrammeManager, African Innovation Foundation

Discussion Item #3

Exploring affordable tools

and resources for

33rd Annual AML & Financial Crime Conference, Africa

and resources for

monitoring suspicious

transactions

Discussion Item #3

Resources

•Human

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•Human

• Technological

Discussion Item #3

Human Resources

• Knowledge

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• Knowledge

• Compliance Culture

• Training

• Relation management

Discussion Item #3

Tools (AML Organizational

Components)

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Components)

• Primary Level

• Governamental Level

Discussion Item #3

Primary Level Technologies

• Risk Management Software

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• Risk Management Software

• Identification Software

Discussion Item #3

Role of Technology

•What can do?

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•What can do?

•What cannot do?

Discussion Item #3

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What can you do?

Discussion Item #3

Thank you!

103rd Annual AML & Financial Crime Conference, Africa

Thank you!

Developing Efficient Transaction Monitoring Processes with Limited Resources

10 December 2013 | 15.30 – 16.3010 December 2013 | 15.30 – 16.30

Solomon Kofi Dawson, Head, Compliance & AMLRO, uniBank Ghana Limited

Transaction Monitoring Process in

TBML

• Risk Based Approach for Customer On-boarding and screening

• Improve on Customer Acceptance and

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• Improve on Customer Acceptance and Nature of business alignment

• Expected volume of transaction through internal thresholds

• Trade Documentation Review through key document

Risk Based Approach for Customer

On-boarding and screening

• Low Risk

• Medium Risk.

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• Medium Risk.

• Medium High.

• High Risk.

Nature of business alignment

• Synchronizing customers CDD responses to the trade transactions

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to the trade transactions

• Compare nature of business with nature of trade transaction

• Expected volume of transaction

• Key trade documents review

Developing Efficient Transaction Monitoring

Processes with Limited Resources

10th December 2013 � 15.30

Chris McAuley, Director, SAS Institute

Common Objectives

INCREASE DETECTION RATES

• Identify more sources of non-compliance

• Ensure fewer cases go undetected

ACCURACY• Reduce false positives

• Focus on cases with higher yield

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EFFICIENCY

• Work cases and inspections faster

• Remove time wasted on data collection

TOTAL COST OF OWNERSHIP• Single, integrated platform

• Leverage investment over multiple business areas

Predictive Text

Database

Searches

Anomaly detection (example): A customer with a higher ratio of

Text mining (example): Examination of customer correspondence (inc E-Mails) to find phrases or words indicative of an association with a US entity.

Database Searches (example): Looking for

Predictive modelling (example): Finding customers with sources of funds similar to other entities in the Enterprise that case officers have determined are US liable

The Importance of Analytics

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Analytic Analytic Decisioning Decisioning

EngineEngineAutomated

Business Rules

Anomaly

Detection

Predictive

Modeling

Text

Mining Searches

Social Network Analysis

Business rule (example): An applicant providing a US address

with a higher ratio of US destined transactions than the peer group

Looking for matches across the known industry watch lists

SNA (example): A number of people on a network who are US tax liable, together with ones who appear to have avoided internal DD

illustrated using sample FATCA examples

Deployed in an “Industry Standard” way

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