Comprehensive Alert and Case Management System
At Sigma AML, we have developed our proprietary financial crime monitoring platforms and an integrated case management system designed to help you effectively identify, manage, and mitigate risks to ensure compliance with your financial crime obligations.
Key features:
- Comprehensive alert and case management
- End-to-end workflow automation
- Customisable thresholds and scoring
- Unified case management dashboard
- Record keeping for up to seven years
- Data extraction and visualisation for reporting purpose
KYC Onboarding & Periodic Refresh
Ensure your customers are who they claim to be
Prior to offering a designated service, reporting entities must undertake adequate measure to establish the identity of their customers, which is commonly known as KYC Onboarding. This includes collecting and verifying relevant KYC data points (legal name, date of birth, residential address, etc.) to conduct an assessment to determine the customer’s financial crime risk rating. In addition, reporting entities must have an embedded process to ensure the customers’ KYC information in their record is up-to-date and the customer risk rating is still accurate in terms of reflecting the current risk exposure – i.e. KYC Periodic Refresh.
End-to-End KYC Workflow: Covers the full lifecycle – from case initiation to closure with secure data retention for up to seven years.
Automation of Core KYC Processes: Includes electronic identity verification, ownership structure unwrapping, client outreach, risk assessment, name screening and more.
Automated KYC Periodic Refresh: Automatically generates refresh cases based on configurable rules, triggers, and customer attributes.
Flexible Risk Scoring Methodology: Comes with a pre-set risk scoring model that can be easily tailored to suit your business requirements and risk appetite.
Name Screening
Is your customer a PEP, sanctioned entity or involved in any adverse media?
Name Screening is a critical component of financial crime monitoring. It enables reporting entities to identify whether customers or associated parties such as beneficial owners, directors and authorised signatories are sanctioned, politically exposed persons (PEPs) or linked to any adverse media.
Name screening must be conducted both at onboarding and on an ongoing basis to ensure financial crime risks are appropriately identified and managed throughout the customer lifecycle.
End-to-End Name Screening Workflow: Manage the full process from screening initiation to case closure, ensuring consistent and traceable outcomes
Integrated Screening at Onboarding: Name screening is automatically triggered during KYC onboarding as part of our KYC module
Automated Ongoing Screening: Alerts are generated based on pre-set triggers and risk attributes, with flexibility to configure rules according to your business needs and risk appetite
Seamless Integration with KYC and ECDD Modules: Facilitates escalation and further investigation through direct linkage with our KYC and ECDD platforms when a material screening hit is identified
Enhanced Customer Due Diligence (ECDD)
Additional measures when your customer is considered as high risk
When a customer is assessed as having a high financial crime risk, ECDD must be conducted to further identify, manage, and mitigate potential risks. ECDD measures may include collecting and, where necessary, verifying additional KYC data points, as well as performing a retrospective review of the customer’s account activity. As prescribed under the AML/CTF Act and Rules, all ECDD cases must be reviewed and endorsed by Senior Management, as required by law.
End-to-End ECDD Workflow: Manages the full process from ECDD case initiation to closure, ensuring consistency and compliance
Automated ECDD Alert Generation: Automatically triggers ECDD cases based on configurable rules and risk attributes, tailored to your business needs and risk appetit
Seamless Integration with KYC and Name Screening Modules: Enables immediate access to key functions such as electronic identity verification, ownership unwrapping, client outreach, risk assessment, and name screening
Suspicious Matter Report (SMR)
One of your core reporting obligations
Under the AML/CTF regulatory, reporting entities must have sufficient measures to detect suspicious customer activities or behaviours. If identified, a Suspicious Matter Report (SMR) must be submitted to AUSTRAC. The reporting timeframe is 24 hours for suspicions relating to terrorism financing and three business days for suspicions relating to money laundering or any other offence.
Easy to Use Workflow: Allows you to document relevant red flags / risk types and upload your SMR within the system for record keeping purposes
Seamless Integration with ECDD, Name Screening and KYC Modules: Automated workflow to trigger ECDD and KYC Refresh when a SMR is submitted
Investigation Module
Record your investigation process and outcome when you notice something unusual
Our investigation module allows you to create alerts / cases to record your investigation process and determination outcome, with automated workflow to initiate ECDD, Name Screening and SMR submission.
End-to-End Workflow: Manage the full process from initiating investigation to documenting determination outcome
Seamless Integration with ECDD, Name Screening and SMR Modules: Direct linkage with our other functions / modules to facilitate your investigation