AML Watcher

Sarah Beth Felix, a leading voice in AML and financial crime risk management, known for her deep expertise in building effective compliance programs, teams up with Oonagh van den Berg (Lady) 🐦🔥 for a webinar hosted by AML Watcher. Drawing from Sarah's experience of more than 20 years in AML industry with her current roles as C suite executive at three firms, the conversation will revolve around a Discussion on Fintech Banking. Tune in this Friday at 10 30 AM Eastern Time (US & Canada) on the 30th of August 2024 to contribute to the conversation. #AML #Compliance #Webinar #MoneyLaundering #AMLWatcher

Who needs to use a custom search profile? A banker whose clientele belongs to specific regions of the world will benefit significantly from using a Custom Search Profile. This tool allows bankers to tailor their search parameters based on various sanctions, including those related to specific countries, regimes, and publishers. By customizing their search profiles in this way, bankers can more effectively manage compliance and mitigate risks associated with their international clients. Similarly, a payment service provider operating in Ukraine can utilize a Custom Search Profile to streamline their compliance processes. They can select sanctions based on countries, assess Politically Exposed Persons (PEPs) by their status, and choose watchlists according to risk levels. This tailored approach helps payment service providers address regulatory requirements and manage potential risks more efficiently in their specific operational context. An actuarial scientist running background checks on customers from specific countries can also leverage Custom Search Profiles. They can select relevant watchlists such as Fitness and Probity, Warnings, Special Interest Person/Entity, Insolvency, and Regulatory Enforcement. This customization ensures that their searches are comprehensive and relevant to the specific risks and regulatory considerations pertinent to their clientele. To see how the custom search feature can work for you, try AML Watcher. #AML #AMLW #AMLWatcher #Compliance #CustomSearchProfile #CustomSearch

You can’t judge a book by its cover, especially in banking. Someone might claim to be depositing their life savings, but without proper screening, you won’t know if they’re legitimate or trying to launder money. That’s why name screening is crucial. It helps you identify potential fraudsters before they exploit your bank. Want to know the difference between truth and false? AML Watcher has you covered. Strengthen your compliance processes—visit AMLWatcher.com #AML #AMLWatcher #MoneyLaundering #Regulations #Compliance #Sanctions

Once, AML compliance teams were doing their best, meticulously sifting through records and manually checking details to keep the financial world safe. But as the world grew faster and fraudsters got smarter, old methods couldn’t keep up, leaving teams overwhelmed by false positives and endless manual work. That’s when AML Watcher stepped in, transforming compliance with over 100,000 data sources and a decade of research to flag risky entities across 235+ countries—from the Andes Mountains to Palm Springs. Offering screening in 80+ languages with advanced phonetic matching, AML Watcher became a trusted partner, cutting down on manual labor, reducing false positives, and providing peace of mind wherever there's risk. Today, we give AML compliance teams the confidence, knowing they are covered on Earth, above and beyond, redefining what it means to be vigilant in an ever-changing world. #AML #Compliance #Sanctions #MoneyLaundering #AMLWatcher

A majority of the Anti-money laundering (AML) solutions out there use third-party data providers. Is it the right apporach for AML obliged sectors to use such solutions While it may be prudent for solution providers, it may not ensure effective AML screening for AML-obliged sectors. Screening officials may often struggle with outdated information, leading to inaccurate search results—especially when AML regulations, international and jurisdiction-specific sanctions, or global events change rapidly. When it comes to AML screening solutions, the quality and accuracy of the data are what truly matter. What’s the real challenge in getting the most accurate and high-quality data for AML compliance? AML data isn’t static—it’s constantly evolving. Volatile geopolitical dynamics, trade wars among superpowers, bloc politics, and shifting positions on foreign policy all contribute to the ever-changing sanctions designation lists not to mention the change in risk profiles of hundreds of thousands of PEPs due to elections. Further, big financial institutions operating across multiple jurisdictions need customized risk profiles. Why? Because a designated entity in one region might be considered high-risk, while in another, it could be seen as low-risk. In these complex scenarios, AML-obliged sectors don’t just need a screening solution providing the static data but a tool with a proprietary data layer, continuously updating the data and providing an expert point of view to provide the full-fledged risk context. AI and machine learning have become buzzwords in the AML space, but these technologies are only as good as the data they’re built on. Without accurate data, even the most advanced AI can’t deliver meaningful results. That’s why having reliable data isn’t just a nice to have—it’s essential. It is encouraging to see that even regulators are realizing the significance of AML data accuracy. The Financial Conduct Authority (FCA) underscored this in their 2023/2024 business plan. They provided firms with a data sample to test their screening tools, highlighting the need for accurate system calibration and high-quality data. As Stephen Lockwood put it, “This approach is a reminder that system calibration and data quality are fundamental to effective controls.” Solution providers with in-house data teams are better equipped to offer a comprehensive view of risk. They can quickly and accurately update data following changes in sanctions lists or shifts in the risk profiles of PEPs—a critical need in 2024, given the frequent updates due to elections happening around the globe. That’s where AML Watcher comes in. We have our in-house team of researchers directly analyzing authentic AML data from official sources, making AML compliance easier and more efficient. Whether it’s updating PEP statuses or adjusting sanction lists, AML Watcher has you covered, so you can focus on what really matters. #AML #Compliance #Sanctions #MoneyLaundering #AMLWatcher

As noted by Jane L., a senior analyst at Deloitte, "Regional adverse media screening allows institutions to capture the local context and cultural nuances that global screening might miss, ensuring a more comprehensive risk assessment." Screening for adverse media on a regional basis is essential for improving the accuracy and relevance of your compliance efforts. By focusing on local news sources, you can significantly reduce false positives that often arise from global searches, leading to more efficient and precise results. This approach not only enhances your compliance strategy but also saves valuable time and resources by eliminating the need to sift through irrelevant data. Incorporating regional news into your screening processes helps to mitigate the risk of false negatives, ensuring that no critical information is overlooked. Localized screening provides a deeper understanding of the context and nuances within a specific region, making it easier to detect and address potential risks. In today's fast-paced regulatory environment, this level of precision is crucial for staying ahead of compliance challenges. This approach is particularly beneficial for institutions operating across multiple jurisdictions, where regional differences can play a significant role in compliance At AML Watcher, we understand the importance of regional focus in adverse media screening. Whether you're looking to monitor the latest developments in the UAE or need to conduct searches in Chinese, our customized solutions are designed to meet your specific needs. By incorporating local news sources, we ensure that you receive the most relevant and precise results possible. Save time and resources by reducing false positives and false negatives. Try AML Watcher today and gain access to the best adverse media solution tailored to your regional needs. #AML #Compliance #AMLW #AMLWatcher #AdverseMediaScreening #AMS

AML compliance is challenging, especially when done manually. Going through endless lists to identify potential threats can be overwhelming. But compliance officers deserve a break too! That’s where AML Watcher steps in. Automate your AML compliance with AML Watcher and reclaim your time. Let us handle the heavy lifting so you can focus on what really matters. Take a break—visit AMLWatcher.com today to learn more. #AML #Compliance #Sanctions #MoneyLaundering #AMLWatcher

"Multilingual capabilities in adverse media screening are essential for a comprehensive risk assessment, as critical information is often found in local language sources that might not be captured by English-only tools," says Steve Marshall, a compliance specialist and contributor to Risk Management Journal. When your clients are global, like one from Kazakhstan, you need to be able to search for information in languages such as Kazakh and Russian to get the most accurate results. Adverse media may not always be available in English, and failing to capture news in a client's native language can lead to significant oversight. For example, a client from the UAE might have a clean record in English sources but could have negative reports in Arabic that could go unnoticed if your screening tool lacks multilingual support. In today's global business environment, you must ensure your adverse media screening tool doesn't limit your reach by its language capabilities. AML Watcher’s comprehensive language coverage, supporting over 80 languages, ensures that whether your client is from the UAE, Kazakhstan, or any other part of the world, you have the best tools at your disposal to identify potential risks. This extensive coverage allows your business to be truly global, safeguarding against missed risks due to language barriers. Want to explore our 80+ languages? Visit our website to book a free demo today. https://amlwatcher.com/ #AML #Compliance #AMLW #AMLWatcher #AdverseMediaScreening #AMS

Get ready to SNAP into the future! 📸✨ Our latest issue of SNAP magazine is packed with trendsetting stories, bold insights, and a splash of creativity that’s sure to inspire. Don’t just read it—experience it! 🚀 #AML #Compliance #SNAP #Magazine #AMLWatcher

AML Watcher stands out in the industry by offering real-time adverse media screening that ensures compliance as soon as negative news surfaces. Unlike traditional systems that may rely on outdated information, AML Watcher provides up-to-the-minute updates, helping businesses stay compliant with the latest developments. Our advanced language model (LLM) goes beyond mere keyword searches by incorporating factors such as tone, context, nature, authenticity, and frequency in its sentiment analysis. This sophisticated approach allows AML Watcher to deliver more accurate and relevant results, setting it apart from competitors in the industry. In addition to its cutting-edge technology, AML Watcher offers comprehensive language support,  screening in over 80 languages. Whether you need news in Arabic, German, or any other language, AML Watcher ensures you’re covered globally and regionally. This flexibility allows users to tailor their searches to specific regions, such as only U.S. or Chinese sources, providing a truly customizable experience. Ready to see AML Watcher in action? Visit our website to book a free demo today. https://amlwatcher.com/ #AML #Compliance #AMLW #AMLWatcher #AdverseMediaScreening #AMS