Aquilan’s Patriot Manager is an anti-money laundering compliance and fraud solution that identifies industry-unique contributors to better detect suspicious activities in the broker/dealer industry. Using a sophisticated rules-based approach, Patriot Manager’s automated anti-money laundering compliance solution reduces fraud and monitors, detects, tracks/manages, and reports suspicious activities. Industry-driven red flags and alerts power Patriot Manager to quickly identify unusual/abnormal behavior and provide a higher level of precision in the identification of industry-unique suspicious activities, resulting in a reduction in false positives and more time to focus on valid investigations.
Aquilan’s Patriot Manager helps Broker/Dealer 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
- Validate key customer information and automatically identify and rate any address in the HIFCA
- Identify high risk customers based on broker/dealer specific risks
- Monitor up-to-date watch lists (including OFAC), ongoing transactions and agent activities and receive automatic notification of suspicious activities
- Implement risk-based due diligence programs for correspondence accounts, private banking accounts and PEPs
- Detect fraudulent and suspicious activities through rules-driven analysis of broker/dealer defined transactions and procedures, including account activity related to securities transactions, CIP/KYC, deposits and withdrawals, new and terminated relationships and cash equivalent values and currency transactions exceeding daily limits
- Implement broker or registered representative tracking and monitoring for complete insight procedures and practices
- 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
- Handle the filing of required government forms such as SAR and CTR, 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 Broker/Dealer industry.