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AI DRIVEN INVESTIGATIVE INTELLIGENCE PLATFORM FOR NIMBLE FRAUD AND FINANCIAL CRIME INVESTIGATIONS
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Transactions Monitoring - Machine Learning combines with your rules & policies to ensure effective, accurate results. Risk Categorisation - Ensure the risk categorisation of customers is accurate, appropriate and supports your dynamic monitoring.
Monitor customer's financial behaviour - Automatically request and receive Proof of funds - Update customer information & review risk categorisation
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AI DRIVEN INVESTIGATIVE INTELLIGENCE PLATFORM FOR NIMBLE FRAUD AND FINANCIAL CRIME INVESTIGATIONS - insights on demand, at big data scale
Quickly unearth insights and free analysts from rigid legacy solutions - Real-time complex event analysis - Real-time complex event analysis - Collect, filter and search financial data in real-time across your entire organization
Siren's pre-integrated capabilities - Unify and analyze data in its native environment - Investigative Intelligence Platform-Investigative Intelligence for Fraud & Financial Crime. Quickly and intuitively derive insights leveraging all your data
GO BEYOND RIGID RULE BASED TECHNIQUES FOR FINANCIAL CRIME INVESTIGATIONS
Deliver less false positives with higher accuracy, while remaining nimble and resilient to emerging and evolving risks. Minimize your dependency on legacy solutions that hinder your analysts abilities by relying solely on rules-based algorithms to prevent and detect fraud.
Break free from the constraints imposed by systems that require all the data to be in both a relational database format and to be available in the same back end database instance. Unify, search, analyze and discover insights in real-time with true 360 degree views across your entire organization’s data both structured and unstructured.
Siren is helping some of the world’s largest financial institutions and payment providers to build that bigger picture.
INVESTIGATIVE INTELLIGENCE THAT MATCHES MODERN FRAUD AND FINANCIAL CRIME INVESTIGATION REQUIREMENTS. Augmented Investigative Intelligence for Fraud and Financial Crime. Anti-Money Laundering - Span the myriad of systems and data sources: from sanctions and PEP screening records to account application data and account access logs.
Gain actionable investigative insights of the ongoing risk profile of counter parties and meet Know Your Customer (KYC) / Customer Due Diligence (CDD) regulatory requirements.
See Siren in action - Fraud & authentication management - Accelerate investigations and derive insights across both internally and externally perpetrated fraud.
Quickly find clusters of coordinated ring activity, where entities are connected by one or more common attributes through various degrees of separations.
Financial markets compliance - Stay on top of regulatory obligations and minimize your reputational and regulatory exposure by seamlessly unifying all your data and identifying pitfalls.
From Suspicious Activity Reports (SARs) & Currency Transaction Reports (CTRs) to employee master files and internal/external blacklist information.
WHAT DO CUSTOMERS AND PARTNERS SAY - “The industry is moving towards non-rules based techniques to prevent and detect fraud which generate less false positives with higher accuracy, are more adaptable and resilient to emerging and evolving risks, and are better at spotting the “unknown unknowns”. Siren is at the forefront of the next generation solution ecosystem as compared to currently available commercial solutions.” – Frank Badalamenti, principal at PwC
“With the system built on top of the Siren platform we can achieve a 50% reduction in false positives for the first time, an industry standard yet to be surpassed, as well as reducing manual case reviews by 40%.” – Andrew Davies, head of business and innovation at Pay360 by Capita
THE SIREN PLATFORM™: ELASTICSEARCH MEETS RELATIONAL AND VIRTUALIZATION CAPABILITIES. Discover how Siren fits into your big data ecosystem - Platform Overview - Cross back-end investigations where data resides - Relationally connected dashboards- Content search, discovery and API integrations
Built-in knowledge graph & link analysis - Enterprise level security and a developer friendly platform - Excellence in Risk Compliance- AML/KYC/CTF/PEP Compliance & Monitoring Software and Solutions
PiFi Tech provides a complete risk compliance platform including sanction screening, anti-money laundering (AML) protection, and supplementary reporting. We also provide additional information and solutions for Financial Technology (FinTech), Regulatory Technology (RegTech), and Know Your Customer (KYC) protection.
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PiFi Tech provide the Best Anti Money Laundering Solution Platform - Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations
Guidelines for Financial Institutions -The purpose of these Anti-Money Laundering and Combating the Financing of Terrorism and the Financing of Illegal Organisations Guidelines for Financial Institutions (“FIs”) (“Guidelines”) is to provide guidance and assistance to supervised
institutions that are FIs, in order to assist their better understanding and effective performance of their statutory obligations under the legal and regulatory framework in force in the United Arab Emirates (“UAE” or “State”).
Our Mission is to make compliance for Banks and FinTechs easier by providing innovative AML compliance software. To help them in the fight against organised crime and to support the stability of both the financial system and our client’s companies.
We protect our clients against large fines and criminal prosecution while supporting their growth. We stand for Innovation, Security and Integrity
Our Vision - To always set the global gold-standard against which all other compliance software is measured, but also against which corporate cultures and working environments are measured.
We establish a stable, secure backbone upon which the rest of the financial system can grow. To revolutionise the approach taken towards compliance and legal work within financial services.
Our Core Values - Innovation, security, integrity are not just words, they are fundamental values built into the framework for everything we do.
We are driven by a sense of fairness and an ability to bring more transparency and clarity to the world of financial services.
We also believe that great products are bought, not sold, something which will stand out in any form of meeting or interaction with us. - Our focus will be on you and your problems.
Our Focus - True Positives - More accurate than ever. Ensuring you’re seeing more of what you need to, and less of what you don’t
Integrated Risk Categorisation within the system for real time monitoring - Real Time - Multiple servers & High speed result ensure you don’t leave anything behind
Efficiency - Increase your efficiency and spend your resources where needed. Real Time AML Transaction Monitoring Solution to keep up with criminals - Keeping up with Criminals
User friendly AML transaction monitoring systems. High Tech configuration and test modes allow you to quickly try out new scenarios and rules, allowing you get ahead.
Innovation, Security, Integrity. Annual Risk Assessment; Book a Demo; Lenses of Risk; Country level risk assessment. Business wide risk; Product Risk in AML; Product Risk; Country level risk assessment; Country risk; Transaction Risk; Transaction Risk; Inherent Risk; Residual Risk
Anti-Money Laundering, Counter Terrorist Financing, and Regulatory Compliance Training Event - Dubai 2019. This new training and update workshop covers the latest developments affecting anti-money laundering and counter-terrorist financing frameworks, as well as elements of operational risk frameworks. Attendees will be guided through a review of regulatory compliance requirements and anti-money laundering, counter-terrorist financing, and know-your-client compliance technologies. The training workshop aims to ensure that attendees are able to competently address the latest legal, financial, market, operational and reputational risks that firms face today. The training workshop will seek to set out best practices for undertaking trade compliance, regulatory compliance, and due diligence on third parties.
Programme:
Session 1: AML and CFT Global Trends and Challenges
· Global View of AML and CFT Cases and Fines, Developments in High Risk Third Countries, Developments in Higher Risk Third Countries.
· An Update on High End Money Laundering, Strategy and Action Plan.
· A Review of the Latest AML and CFT Compliance Technology Features (Artificial Intelligence (AI) Risk-Driven Databases (Companies, People); AML Real Time Facial Recognition Identification).
Session 2: A Review of Money Laundering Methods
· Assets (gold, jewellery, raw diamonds, antiquities, art); Real Estate (Legal Estate, Equitable Interests, Property Values, Cash Deposits); deposit boxes; private cash deals; currency exchange offices, loans and mortgages.
· The growing use of Third Party Intermediaries (TPIs) (Consulting Firms; Legal Professionals; Trust and Company Service Providers; Accountants) and New Areas (Capital Markets; Mergers and Acquisitions).
· TPI Vulnerabilities (Shelf Companies, Directorship, Trustee, Virtual Office, Mailbox Services, Trusts, Client Accounts, Client Advocacy and Brokerage Services), and Environmental Vulnerabilities (Jurisdictional Vulnerabilities, Vulnerable Business Practices).
Session 3: Concealment of Beneficial Ownership
· Misuse of Legal Persons and Arrangements (Capital Companies, Partnerships, Limited Liability Companies, Foundations, Trusts).
· Techniques used to Obscure Beneficial Ownership (Complex Ownership and Control Structures, Use of Individuals, Use of Financial Instruments, Falsifying Activities).
· Case Studies (Australia); Case Studies (Argentina); Case Studies (Belgium); Case Studies (Bolivia); Case Studies (Canada); Case Studies (Cayman Islands); Case Studies (China).
Session 4: Advanced Risk Assessment Methodologies and Monitoring
· Client Risk Rating (Jurisdiction, Political Status, Legal Persons and Arrangements, Industry Type); Country or Geographic Risks; Product Type Risks; Delivery Channel Risks; Risk Rating Methodologies; Risk Rating Scale.
· Integration of Third Party Systems (Criminal Records, Black Lists, White Lists, PEPs, Corruption Indexes, Negative News Screening, Data Feeds (Application Programming Interfaces (APIs))).
· Transaction Filtering and Monitoring, Automated Analytics, Internal Audit (Audit Committee Participation, Subject Matter Knowledge, Escalations, New Business Committee).
Anti-Money Laundering (AML) & Counter Terrorist Financing (CTF) - AML and CTF compliance is a cornerstone of any financial institution’s operations - Many firms have the perception that the Middle East has a lighter touch regulatory environment than the financial markets of Europe or the US. However, when it comes to Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) this is simply not true and many foreign firms are surprised at how stringent the regulatory requirements are.
Many of the regulatory actions taken regarding AML/CTF are related to failings in systems and controls rather than actually laundering money or financing terrorism.
AML and CTF must be a key component in your Firm's operations and must be kept under constant review to ensure that you remain compliant with the regulations and that you monitor your customer base on an ongoing basis.
Your Firm must have effective preventative controls - Over the years the procedures and controls around AML have grown and now the focus is not just on AML but also on CTF. Countering Terrorist Financing is a concern not just to regulators but governments as well. Sanctions checking must very much be a part of your onboarding and screening process before providing a financial service to anyone, Corporate or Individual. Financial services firms are considered to be the gatekeepers of the financial markets and therefore undertaking adequate due diligence on all clients and reporting any suspicions is a crucial part of the regulatory environment in which we work. Ultimately the regulators want to ensure that firms are protecting the integrity of the financial markets.
Drawing on experienced AML professionals - As MLRO’s ourselves, all of our consultants are keenly aware of the regulators' focus and their requirements in relation to Customer Due Diligence (CDD) even when standard client information is not available. While regulations provide you with guidance on CDD requirements there is no “one size fits all” approach that can work. Standard templates provide a helpful guide for onboarding clients but sometimes it is expertise and experience that is required when clients simply do not or cannot tick the relevant boxes.
All financial services firms have a requirement and a responsibility to establish robust AML CTF procedures which are not only written but implemented, monitored and updated as and when necessary. Regulators themselves are also being proactive in ensuring firms have effective systems and controls for AML and CTF and are now undertaking client file reviews on a much more regular basis. CCL will help you to get it right first time so that when the regulator does come in and look at your files they can be satisfied that you have met their requirements.
At PiFi Intel, not only do we bring you the expertise of the regulatory requirements, but also the experience of dealing with more difficult to verify clients, as well as our knowledge of the local markets.
Our AML consultancy services include: Reviewing your Firm’s AML policy, including supporting procedures. Assessing the governance and oversight of AML in your Firm. Reviewing your client files to ascertain the adequacy and sufficiency of your customer due diligence (CDD). Expert guidance regarding on-going monitoring including CDD, suspicious activity and transaction monitoring
Providing AML training tailored to your Firm's business and regulatory requirements. Anti-Money Laundering (AML) Compliance - PiFi Intel Perspective by Roger Z., Houston
Given the increasing regulatory scrutiny related to AML issues and complex challenges faced by financial services organisations in that regard, institutions are realising the importance of implementing and maintaining a robust AML program.
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AML - Anti Money Laundering Software & Compliance Platform
PiFi Tech provides a complete risk compliance platform including anti-money laundering (AML) protection, sanction screening, and supplementary reporting. On the basis of the applicable regulations (National Money Laundering Laws, EU Money Laundering Directives, FATF guidelines, other Regulatory Standards following in EU, UAE & India), Banks and Insurance Companies to analyze their customers and transactions in order to detect abnormal behavior patterns and activities that could be related to money laundering.
PiFiTech along with our Technology Partners is helping Financial Institutions like Banks, Foreign-Exchange Houses, Money Transfer Companies, Legal Firms (Lawyers/Attorneys), Real Estate, Gemstone/Jewellery Stores to meet their obligations for Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations by providing your organization the best Anti-Money Laundering & Risk Compliance Platform.
Money Laundering Detection System (MLDS)
PiFi MLDS recognizes unusual behavior patterns and detects money laundering anomalies in payment transactions. In addition to monitoring financial transactions, our advanced MLDS Platform helps you to carry out the obligatory risk assessment of customer relationships and Know Your Customer (KYC) profiling. In conjunction with automated monitoring, our sophisticated analysis tools support your own risk analysis procedures.
PiFi MLDS is your one-stop software solution to meeting your legal obligations with regard to anti-money laundering (AML) Laws & Regulations as per EU, UAE & India Guidelines.
Our Industry-proven rule sets:
- The AML software provides an advanced set of money laundering indicators that can be customized to your specific requirements.
- Transactions Monitoring - Machine Learning combines with your rules & policies to ensure effective, accurate results.
- Suspicious Activity Reporting - SAR submission in minutes, reduce the risk of a backlog and track communication with authorities.
- Internal Risk Reporting - Understand where the biggest risks lie at the click of a button, in real-time.
- Monitor Politically Exposed Person(s) (PEPs) and Foreign PEPs indicators to track any risky behavior with adverse media and watchlist checks for a comprehensive customer due-diligence check and Anti Money Laundering (AML) and Know Your Customer (KYC) program.
- Considering all the relevant risk factors such as customers, High-Risk Countries (HRC) or Geographic Areas; and Products, services, Suspicious Transaction Reports (STRs) and delivery channels, before determining the level of overall risk and the appropriate level of mitigation to be applied.
- Documenting risk assessment operations, keeping them up to date on on-going bases and making them available upon request.
For more information on AML Platform, please fill the form below or Call +918303116883
