itrack | AML
Based on a methodology designed by public and private sector AML experts and mapped against local and international standards, Comsure's Risk Assessment tool (itrack AML) is a web-based solution that delivers a comprehensive, automated risk-based reportable profile of an institution's products, services, geographies and customer entities through a flexible and scalable platform for institutions of all sizes.
Watch a short promotional video to see itrack
- 🌐 Explore more here: https://itrackaml.com
- 🎥 Watch the video: https://tinyto.me/ITRACK
- 🎥 Watch the video: https://shorturl.fm/xDYhT
Comsure's Risk Assessment is a trusted, standardised means to measure, understand and explain an institution's money laundering risks.
- Establishing AML standards based on global best practices and the latest guidance and regulation from authoritative sources worldwide
- Providing Automation which aggregates multiple risk categories and provides seamless updates to address any regulatory changes
- Utilising qualitative and quantitative data features which score risk and offer a comprehensive money laundering risk profile
- Creating presentation-ready reports, charts and tables, allowing you to communicate your risk to stakeholders including regulators while eliminating the need for cumbersome manual reporting
- Benchmarking and comparative reporting, providing a framework for future AML standards. Further to the above you can also verify your risks
Comsure has developed a simple but effective risk measurement online tool (currently called “itrackAML”). Along with local requirements (JFSC/GRF, MFSC, SFSA etc.) iTrack meets the standards required by international regulatory bodies and international standard setters such as:
Wolfsberg Group
- Wolfsberg Group – Guidance on a Risk‑Based Approach for Managing ML Risk
https://wolfsberg-group.org/resources/ [Wolfsberg…Money …] - Wolfsberg – Risk Assessment FAQs
http://www.delitosfinancieros.org/wp-content/uploads/2015/09/Wolfsberg-Risk-Assessment-FAQs-2015.pdf [- Anti-Mon…AQs (2014)] - Wolfsberg – Digital Customer Lifecycle Risk Management
https://wolfsberg-group.org/news/publication-of-guidance-on-digital-customer-lifecycle-risk-management/
FATF
- FATF – Risk‑Based Approach Guidance for the Banking Sector
https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Risk-based-approach-banking-sector.html [fatf-gafi.org] - FATF Recommendations (R.1 and R.10)
https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Fatf-recommendations.html [fatf-gafi.org]
iTrack provides a bulletproof system to allow firms to demonstrate to “Regulators” the robustness of their AML systems, including:
- Client Take On,
- Verification*,
- Risk Assessments,
- Monitoring,
- Management reporting (e.g. Pie/Bar summary graphs)
- Reporting (Inc. Suspicious Activity Reports [SARs]) and
- Record-Keeping (and GDPR data management)
*As an enhancement to the core functionality of iTrackRisk, Comsure can also offer ITrackSanctions - ITrackSanctions offers data screening through APIs into Sanction data (OFAC, UN, EU*) and Politically Exposed Person [PEP] [and other high-risk information] and Adverse Media data through a dedicated matching engine and Data suppliers such as
- World-Check, Dow Jones (*) - [*Please note we can, if so requested, work with other data providers if so directed - if we can API into them, we can work with them!!].
These data sets can be matched singularly or batched as and when requested.
For further information, and see at a glance the core functionality of iTrackRisk