Patriot Manager is an anti-money laundering compliance and fraud solution developed to better meet the needs of the Mutual Funds industry in order to more accurately identify fraud and suspicious transactions. With insight into the investment-based transactions experienced in the industry, Patriot Manager knows what to look for and uses that information to identify more truly suspicious activities and reduces false positives. With industry driven red flags and alerts, Patriot Manager automates AML compliance and fraud operations to monitors, detects, tracks/manages, and reports suspicious activities within your organization.
Aquilan’s Patriot Manager helps Mutual Fund companies:
- Automate AML operations for real-time, rules-based processing with preset rules and adjustable tolerances
- Connect and store disparate data to gain a holistic view of your customer, implement a complete Customer Information Program and gain an enterprise-wide relationship view
- Identify high risk customers based on mutual funds specific risks
- Validate key customer information and automatically identify and rate any address in the HIFCA
- Monitor up-to-date watch lists (including OFAC), ongoing transactions and agent activities and receive automatic notification of suspicious activities
- Detect fraudulent and suspicious activities through rules-driven analysis of mutual funds defined transactions and procedures, including CIP/KYC, deposits and withdrawals, new and terminated relationships and cash payments and cash equivalent values
- Implement risk-based due diligence programs for correspondence accounts, private banking accounts and PEPs
- Track, manage and guide case management procedures to ensure proper steps are taken for each investigation and record thorough audit trails for easy referencing of both open and closed cases
- Implement broker or registered representative tracking for complete insight procedures and practices
- Handle the filing of required government forms such as SAR and 8300, including the auto-population of key fields and electronic submission
- Ensure ongoing USA PATRIOT Act compliance through automatic regulation and software updates, preventing future violations
… and much more.
Contact Aquilan today to find out more about how Patriot Manager addresses the unique AML compliance and fraud needs of the Mutual Funds industry.