Financial Crime World

BURKINA FASO TACKLES FINANCIAL CRIME WITH ADVANCED AML SOLUTIONS

In a bid to strengthen its financial ecosystem against illicit transactions, Burkina Faso is leveraging cutting-edge Anti-Money Laundering (AML) solutions. The move aims to prevent the country’s banks and financial institutions from being exploited by criminals seeking to launder money.

The Need for Effective AML Solutions

With an estimated $2 trillion in illicit funds laundered annually, only 1% of which is intercepted by authorities, it is clear that a robust AML solution is imperative for financial institutions. BANKiQ’s Intelligent Anti-Money Laundering (IAML) software has emerged as a vital tool in this fight against financial crime.

Bankiq’s Iaml Solution

BANKiQ’s IAML offers a comprehensive suite of features, including:

  • Customer Risk Scoring: Monitors customer behavior and profiles to prioritize detection and compliance efforts effectively.

  • Name Screening: Cross-references customers against watchlists, sanction lists, and other red flags to avoid high-risk entities.

  • Real-time Transaction Monitoring/ Alerts: Continuously scans for suspicious transaction patterns, instantly alerting potential money laundering activities to timely interventions.

  • Case Management: Organizes and manages investigations into suspicious activities, facilitating efficient resolutions and reporting features.

  • AML FIU – STR Reporting: Automates the preparation and submission of Suspicious Transaction Reports (STRs) to Financial Intelligence Units (FIUs), ensuring strict adherence to regulatory requirements.

Choose Bankiq for Your Aml Needs

As a risk guardian in fighting financial crimes, BANKiQ offers an advanced, intelligent Anti-Money Laundering solution designed to safeguard operations against the complexities of modern-day money laundering. By leveraging advanced technology to enable fully autonomous cognitive applications, BANKiQ is heralding innovation through a robust, scalable, and adaptable AML solution that is ready to combat the ever-changing tactics of financial crime.

Get Started Today

Schedule a demo with our solutions team to discuss your fraud prevention strategy and learn how BANKiQ’s IAML can help you secure transactions and ensure compliance in Burkina Faso.