Trade Based Money Laundering
CORAL™ TBML – was first launched in 2018 and was awarded with FinTech Award in Hong Kong ICT Awards 2019.
A real time Trade Based Money Laundering (TBML) screening process with a structured host of analysis, monitoring, checks and reporting. The detailed on-going screenings and enhanced transaction monitoring covers a step by step approach of evaluating trade transactions that enables detection of TBML schemes. This accurate and efficient automated process ensures legitimate trade continues to flow and halts fraudulent ones.
CORAL™ TBML assists in establishing clearer and effective gateways with appropriate controls and safeguards the existing legal frameworks to facilitate the effectiveness in exchanging of trade data and other relevant information in effort to combat financial crime, while ensuring commerce through trade continues to flow in an efficient manner.
The solution automates trade finance data digitization, verification, auto labelling, screening alerts, document image processing, document categorization, fields identification, compliance checks, red flags, consistency check, text reconciliation, allowing your organization to:
CORAL™ TBML enable monitoring of whole trade transaction cycle in various stages, started from pre-transaction where all trading documents are screened, SWIFT transaction whenever a Letter of Credit is involved, on-going transaction that monitors live trading process, and post-transaction where all trades history are consolidated for trading behaviour and pattern analysis. CORAL™ TBML utilised document preparation tools – SmartDoc, then passing all information in documents to AI-powered Intelligent Sensor for intelligent screening, filtering and funnelling to finalise the confirmed suspicious trading and ended up to Intelligent Investigation and Reporting Agent for further investigation within the Financial Institution and report to local regulatory authority, Central Bank.
CORAL™ TBML is an industry-specific solution that supports various stakeholders in the trade finance domain to achieve regulatory compliance through artificial intelligence coupled with an intelligent alert reporting mechanism which entails of:
Know Your Customer (KYC) Watchlist Screening
Vessels Screening & Movement Tracking
Port, City and Country Screening
Dual-Use Goods (DUG) Screening
Know Your Customers’ Customer (KYCC) Screening
Commodity Price Checker
Red Flag Checklist
Workflow & Case Management
An intelligent Letter of Credit Issuance & Document Preparation tools that captures information from trade documents, allow data to be integrated for compliance check, credit check and even back feeding data to Trade Processing System for transaction booking.
A detection agent – AI powered intelligent agent system that is capable of handling complex nested group rules execution, executing rule based expert system and risk-based scoring system for probabilistic detection on trade-based money laundering and transaction behaviour profiling.
A built-in a complete integrated engine which enables integration with any sanction list and watchlists service providers, legacy core banking systems and various third-party host systems using XML, text or other open standard protocol. It has (3) key features:
Utilises AI techniques to learn the behavior of officers in making investigation-based decisions. When there is a suspicious transaction detected from Intelligent Sensor, it will route to the Investigation Unit as an alert for further analysis through the flexible workflow and case management system. With the enterprise alert system, the user will be able to configure the notification message via Email or SMS to notify the corresponding officer on task(s) that requires attention. It allows various types of management and regulatory reports in any formats to be generated automatically.
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