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iComply with International
Regulations For many years, the international community of nations has been developing programs to fight against terrorism and financial criminality. After the September 11th terrorist acts and the enactment of the Patriot Act, these efforts have intensified. To comply with the new regulations imposed by both international organizations and national authorities, the financial sector is under strict mandates to improve detection and tracking. Additionally, the new laws require a broader base of sector participants to implement Anti-Money Laundering (AML) policy and procedures. This above mentioned requirements for financial vendors is expanding the market for detection products. Federal and international authorities periodically issues lists of individuals names, firms, countries and banks that need to be monitored. Any financial transaction concerning any of the above must be stopped and reported immediately. iComply is regularly updated to provide the highest level of identification. Therefore, iComply gives you the confidence and security that you are meeting your obligations. Customer Identification/Know Your Customer International legislation requires financial institutions to "determine whether a customer appears on any list of known or suspected terrorist organizations." Furthermore, it asks for "additional due diligence" for "Politically Exposed Persons." iComply integrates all of the world compliance lists: 1. Office of Foreign Assets Control : Specially Designated Nationals and Blocked Persons 2. Bureau of Export Administration : Denied Persons List 3. Office of the Superintendent of Financial Institutions: Blocked Persons 4. Office of the Superintendent of Financial Institutions : Blocked Entities 5. Foreign Terrorist Organizations 6. User : List of Blocked Persons 7. User : List of Allowed Persons 8. FBI : Hijackers List 9. FBI : Most Wanted List 10. FBI : Most Wanted Terrorist List 11. FBI : Seeking Information 12. FBI : Kidnapping and Missing Persons Investigations 13. FBI : Parental Kidnapping 14. FBI : Crime Alert 15. FBI : Monthly Fugitives 16. Interpol : Most Wanted 17. United Nations : Consolidated List of Terrorists 18. Modules that refer to countries 19. User : List of Blocked Countries 20. User : List of Allowed Countries 21. Office of Foreign Assets Control : Blocked Countries 22. Office of Defense Trade Controls Embargo List 23. Non Cooperative Countries and Territories Combination of Technologies iComply analyzes transactions, using a combination of technologies, to deliver a collaborative result that is significantly more accurate and unparalleled in the industry. The following technologies are used by iComply: Flexible Fuzzy Logic Fields Matching Algorithms Phonetics Algorithms Text Mining Features and Benefits
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In developing iComply, Brighterion relied on the experience of renowned
international money laundering experts. The result is distinct scenarios related
to previous known money laundering cases. A scenario
describes and characterizes a money laundering pattern by:
How iComply Works
iComply Flexible Rules
Instead of writing classical rules with limited language and syntax, iComply is the pioneer in bringing to the fraud and anti-money
laundering market the power of Fuzzy Logic that amplifies the power of human reasoning
when dealing with anti-money laundering and fraud prevention.
iComply Flexible Business Rules is an object-oriented software that allow flexibility,
personalization capabilities, rapid application configuration, modification and
deployment. iComply Flexible Rule Builder provide an intuitive browser
visual development environment for writing, editing and testing flexible
business rule tools that can be used without any programming skills.
iComply provides generic scenarios that enable financial institutions to
monitor in real-time: