AML Solutions for FINCEN & BSA Compliance
When comprehensive monitoring matters ECS Enhanced Compliance Solution (ECS) is a comprehensive AML monitoring system designed to comply with the USA PATRIOT Act AML statutes and provides detection & documentation of fraudulent behavior. Our “hidden relationships” functionality in ECS, facilitates monitoring of behavioral patterns and transactional activity among persons and groups of customers. Signatories, beneficiaries and even non-customers that form part of customer relationships.
ECS' real time fraud monitoring module, RETINA, blocks fraudulent transactions while in process prior to release. Alerts can be easily managed through the use of concentric views of customers and their related parties and accounts, and drill-downs to access details on transactions such as Wires, SWIFT, and ACH.
Watch List / OFAC / EDD Screening Software
When an in-depth scanning process makes the difference Our OFAC screening software delivers compliance-critical searches to reduce exposure while at the same time minimize false positives. Our OFAC / PEP Server, scans lists published by the USA Office of Assets Control (OFAC), the Bank of England (BOE), and other authoritative sources.
Designed to not only scan blocked entities, our OFAC Screening Software supports the banks’ Enhanced Due Diligence (EDD) process of their customers by searching lists of Politically Exposed Persons (PEP) and other designated entities. Our search history functionality is specifically designed to comply with FinCEN requests and subpoenas by scanning client databases and transaction history.
Ocean Systems’ customized implementation & configuration, can process unlimited types of data based on your bank’s preferred options using an imbedded workflow technology, ECS can be deployed either centrally in the BSA Department, or across the branch network, so that account and relationship managers may participate as users and contributors of information
FRB Certified wire transfer product, FedLink.
Providing Automation and Compliance - Discover our premier FRB Certified wire transfer automation product suite. FedLink streamlines your wire transfer operation, while ensuring compliance with all related regulations and international payment guidelines. Rich in feature functionality, with hundreds of satisfied bank customers, FedLink has always met all regulatory requirements since its inception in 1995.
The Straight Through Processing (STP) functionality allows customers and correspondent banks to submit payments and obtain confirmations within reduced service windows via direct connection to the Federal Reserve, SWIFT, and FX processors.