With the growth of the financial sector, many financial crimes particularly terrorist financing and money laundering are becoming a serious global threat. For this reason, financial institutions are looking for AML screening solutions to comply with AML regulations and protect their business from potential threats that can damage their reputation.

In this article, you will explore a few exceptional features that you must consider before incorporating an anti-money laundering screening solution into your business.

1. Real-time blocking and batch screening
An advanced AML screening solution can detect any potential crime in real-time with the feature of a central checking point for different formats like SEPA, Swift and XML. With this batch screening feature, the solution can screen everything from a huge database and helps in preventing any fraudulent transactions.

2. Compliance reporting
Financial institutions need to develop AML compliance programs in order to combat financial crimes. An AML screening solution can provide a detailed and customised report that will help your business to cover all the requirements of the auditing and regulatory bodies.

3. Repeat wire stripping
It is one of the most common techniques used by hackers during money-laundering activities. AML screening solutions can detect and identify repeat wire stripping including manipulated payments and immediately block the process to prevent any further false transactions.

Finishing up

If you are looking for a reliable AML screening solution then contact a trusted global provider of advanced AML screening solutions with features like real-time blocking, batch screening, repeat wire stripping, alert, compliance report and much more. Make sure to check all the above-mentioned features that can help your business identify money laundering activities in real time and ensure your business always stays protected.
Visit: https://www.eastnets.com/products/crime-and-compliance/chainfeed