A bank account, a trading account or a payment account may not be opened prior to completion of AML/CFT Customer Due Diligence procedures and no transactions may to be carried out through the account until the anti-money laundering identification and verification procedures have been satisfactorily completed.

In those situations where it is not possible to identify and verify the identity of the customer and beneficial owner, the financial institution has to release the funds to the customer using the same financial channels through which they were delivered.

Accurate identification and verification of data of natural and legal persons are essential for fighting money laundering or terrorist financing in the financial sector.

Financial Institutions have to be able to identify and verify the customer and to monitor the financial transactions and to identify suspicious activity.

AMLEXA enables a remote identification, distance verification, aml risk assessment and monitoring for credit and financial institutions.

AMLEXA is the first Artificial Intelligence Platform that automates all the processes of “Customer Due Diligence” and “Know Your Customer” for the financial sector.

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AMLEXA IDENTIFICATION

MODULE FOR AML FINANCE AND AML BANKING

The Amlexa Identification Module for AML Finance and AML Banking, assures customer’s non-face-to-face identification and verification for the financial sector, using a patented authentication technology that compares the data contained in the government issued identity document with biometric recognition of the customer’s face and performs specific forensic tests to verify and confirm, through independent and reliable sources, the validity of personal data, information and documentation collected by the customer.

AMLEXA ASSESSMENT

MODULE FOR AML FINANCE AND AML BANKING

The Amlexa Assessment Module for AML Finance and AML Banking assures an automated customer AML/CFT Risk Assessment and Management for the financial sector, using a patented artificial intelligence algorithm that take into consideration the customer risk, the transactions risk, the product or service risk, the interface risk and the geographical risk. The AMLEXA artificial intelligence algorithm for AML Finance and AML Banking, checks the presence of the customer in PEPs Lists, Sanction Lists, Watchlists and Blacklists, automatically recognizes the suspicious behavior and provide an AML/CFT risk profile of the customer, which permits to determine whether to accept or refuse the business relationship.

AMLEXA MONITORING

MODULE FOR AML FINANCE AND AML MONITORING

The Amlexa Monitoring Module for AML Finance and AML Monitoring assures an automated ongoing monitoring of the customer AML/CFT Risk for the financial sector, using a patented artificial intelligence algorithm that scrutinizes all the transactions undertaken throughout the course of business relationship to ensure that they are consistent with the knowledge of the customer and his risk profile. The AMLEXA artificial intelligence algorithm for AML Finance and AML Banking checks if the activity is not in keeping with what it knows or expects from the customer and depending on the extent of the divergence noted, it collects more information and documentation and reconsiders the initial risk assessment assigning automatically a new risk profile to the customer.

AMLEXA MLRO BACK OFFICE SERVICES

AML LEGAL BACK OFFICE FOR AML FINANCE AND AML BANKING

The Amlexa MLRO Back Office Service, for aml finance and aml banking, reports any suspected instance of money laundering or financing terrorism and investigates and determines if the information available can be considered as sufficient to notify the result in an internal report to the Money Laundering Reporting Officer  (MLRO).