Enhanced NetReveal AML Suite: Comprehensive Compliance

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Upgraded NetReveal solution provides comprehensive end-to-end compliance offering

BAE Systems Applied Intelligence unveils its enhanced NetReveal Anti-Money Laundering (AML) suite of solutions, which offers an end-to-end service that will help clients address ever more rigorous regulatory requirements. The updated suite builds upon the award-winning solution that was recognised by CEB TowerGroup as being a best in class provider for Anti-Money Laundering¹. It will offer current and prospective clients a range of new capabilities that will enhance their ability to prevent money laundering and terrorist financing, and manage compliance obligations.

The focus on compliance has never been greater – especially with the emergence of multiple billion-dollar fines for organisations that fail to meet regulatory standards. Financial markets continue to be targeted by criminal groups, rogue states, terrorist organisations and drug traffickers, who seek to fund their illicit activity. Preventing money laundering and terrorist financing forms a key strand of crime prevention strategies of governments and global financial regulatory bodies. It is therefore vital that financial institutions stay ahead of regulatory requirements and use effective AML technology solutions that complement internal systems and policies.

The enhanced suite of solutions provides a complete compliance offering – with specific modules that provide detection, prevention, investigation and disclosure filing functions. The suite also incorporates updates that reflect the latest AML guidance from global financial regulatory bodies, ensuring that clients will be able to address recent regulatory guidance changes for AML and Counter Terrorist Financing and cover the compliance journey of their customers from on-boarding and risk rating, to monitoring transactions and performing dynamic ongoing and enhanced due diligence advocated by regulatory bodies.

The suite also includes entity-centric detection, list matching, social network analysis and enterprise alert and case management services. This is performed using the award-winning NetReveal alert and case management solution, allowing clients to take a multi-tiered approach to detection and investigation and to monitor all customer types.

Andy Schmidt, Research Director, CEB TowerGroup, said:

“The Anti-Money Laundering market continues to evolve as controls preventing currency based laundering still have a significant impact on the market. Additionally, the size and scope of recent high-profile enforcement actions indicates that money laundering activities may shift towards less well monitored channels like trade finance, securities, and even virtual currencies as gangs and rogue actors seek to keep funds flowing. This shift requires that financial institutions use AML solutions capable of viewing their entire business, not just select – and obvious – pieces of it.”

Chris Green, Managing Director of Financial Crime at BAE Systems Applied Intelligence, said:

“With the emergence of the modern, hyper-connected global economy and the rise of digital criminality, the threat of money laundering has never been greater. Governments and regulators are responding with ever more rigorous compliance obligations, backed up by much tougher sanctions and penalties. Businesses need to be able to respond to this constantly changing regulatory environment and be capable of not only tackling the threats of today, but also of adapting to the new and even more complex risks the future will bring.

“It is therefore vital that companies in the financial sector implement comprehensive systems to ensure that they can respond to increased regulation and prevent their businesses from being targeted by money launderers. Our enhanced AML suite provides our clients with the most effective and agile solution to date – offering a range of new and improved capabilities to ensure that they can meet their compliance demands and protect both their business and their customers from illegal activity.”