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goAML Regulatory Reporting Now Available

Latest release enables financial institutions to meet regulatory reporting requirements easily while reducing the cost of compliance

Ottawa, Canada, August 1, 2017 – CaseWare Analytics, the developer of enterprise solutions for financial crime, compliance and audit professionals, is pleased to announce that its newest release of CaseWare AML Compliance now supports goAML reporting, an integrated database and intelligence system designed to collect, analyze, report and manage potential money laundering and terrorist financing incidents.

goAML is a standard software solution offered by the United Nations Office on Drugs and Crime (UNODC) and partly funded by the European Commission. Available for Financial Intelligence Units (FIUs), the solution is being used or evaluated by an estimated 50 member states to collect, analyze and disseminate information about suspicious activities that may be indicative of global terrorist financing and money laundering.

CaseWare AML Compliance automatically identifies and populates goAML regulatory reports from its data analytics engine, validates the information, and manages report submissions using its workflow and case management capabilities. Using this new reporting feature, financial institutions can increase the accuracy, consistency and traceability of their regulatory reporting filings and lower their compliance costs.

“With the adoption of goAML steadily increasing, the importance of having an advanced technology solution to automate goAML reporting is clear,” says Andrew Simpson, Chief Operating Officer of CaseWare Analytics. “This capability in our AML solution will help compliance teams appease financial regulators while also significantly reducing their workload and costs.”

CaseWare AML Compliance solution is a scalable compliance and fraud detection platform with customer due diligence (CDD), transaction monitoring, sanctions screening and regulatory reporting capabilities. The solution integrates with existing core systems and is configurable as an end-to-end enterprise solution for complete AML risk management, or as a modular solution to meet specific customer needs.

Included in this latest release is a range of new features, including advanced analytics, enterprise search, workflow decision learning, advanced fraud detection models, dual-purpose goods search and more that enable compliance departments to quickly and intelligently detect suspicious activities, perform thorough investigations and comply with regulations.

To learn how CaseWare AML Compliance solution can help your bank, money services business (MSB), gaming establishment or other financial institution fulfill its AML compliance requirements, contact us at aml@caseware.com.