Enhanced AML Regulatory Reporting Capabilities Now Available

Ottawa, Canada, June 29, 2016 – CaseWare Analytics, a global provider of enterprise solutions for financial crime, compliance and audit professionals, announces the release of enhanced regulatory reporting capabilities in its CaseWare AML Compliance solution that reduces the time and resources needed to file currency transaction and suspicious activity reports required by regulators to meet anti-money laundering (AML) compliance obligations.

CaseWare AML Compliance has Know Your Customer (KYC), transaction monitoring, sanctions list screening and regulatory reporting capabilities in a single platform. Organizations adopting CaseWare AML Compliance have capabilities that span advanced and configurable analytics, visualizations, workflows, alerts and case management. This allows users to identify high-risk individuals and entities, detect suspicious transactions, manage investigations and compliance risks through automated workflows, and file reports with regulatory bodies such as FinCEN.

The enhanced regulatory reporting capabilities in the CaseWare AML Compliance solution reduces the burden and complexity of filing the regulatory reports required to meet anti-money laundering compliance obligations.

The enhancements enable organizations to pre-populate regulatory reports with data from the transaction monitoring module, manage internal approvals of reports through workflows, securely submit reports to regulators, and automatically track electronic status of reports from regulators.

Key benefits of the regulatory reporting capabilities in CaseWare AML Compliance include:

  • Validating that all reports are filed completely, accurately and on time
  • Dramatically reduce the time needed to complete, review and electronically transmit reports from hours to minutes
  • Provide traceability by creating an audit trail of all reports, changes and acknowledgements sent and received by regulatory bodies like FinCEN

"Organizations and financial institutions have the time-consuming job of filing thousands of transaction and suspicious activity reports to regulators each year," says Andrew Simpson, Chief Operating Officer, CaseWare Analytics. "By automating the detection of reportable transactions and streamlining the submissions, CaseWare AML Compliance reduces the reporting and compliance effort by at least 80%."

To learn more about CaseWare AML Compliance solution and its regulatory reporting capabilities, contact us for a demonstration.

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