Solutions

Anti Money Laundering

IMX’s Anti Money Laundering (AML) software solution addresses the most recent AML regulations requiring banks and foreign exchange organisations to perform increased due diligence in relation to currency transactions at the point-of-sale. With out-of-the box functionality, the AML solution is also fully configurable to adapt to a financial institution’s individual Know Your Customer (KYC) requirements and can be manually updated without programming expertise to reflect changing regulations or guidelines.

The IMX solution provides a comprehensive system designed to streamline travel finance operations, including the trading of associated travel products, drafts and money transfers. Key features include:
Assists with real-time fraud detection at point-of-sale Alert to suspicious transactions, enabling follow-up, escalation and action Turnkey implementation for immediate compliance Ease of use increases adoption speed and reduces operating costs Compliance without compromising legitimate sales

IMX's AML solution performs four key processes: Detection, Active Management, Reporting and Timely Intelligence.

Detection:
Monitoring of cashier activity for suspicious behavior in terms of both fraud and money launderingReal-time historical transaction matching

Active Management:
Helps provide awareness of repeat customers that otherwise wouldn't have been detected Additional data capture for large transaction values or suspicious transactions

Reporting:
Compliant with regulatory reporting protocols such as Suspicious Activity Reporting (SAR) and Currency Transaction Reporting (CTR) Full enquiry functionality on historical data Secure warehousing of all compliance-critical transactional data

Timely Intelligence:
Highly configurable data monitoring on real-time and EOD basis that creates improved intelligence over time in identifying potential fraudulent activity Management tools provide a secure web-accessible queue of potential suspicious activity, tracking and recording actions taken