Financial Crime World

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TOKELAU Turns to Advanced Machine Learning Software Solutions for Enhanced AML Efforts

In its ongoing efforts to combat money laundering and terrorist financing, TOKELAU has turned to Eastnets SafeWatch Advanced Machine Learning (AML) software solutions for a more robust and effective approach. The cutting-edge technology offers a range of innovative features designed to detect unusual behavior and suspicious transactions.

Key Benefits

  • Provides a choice of ready-made or custom scenarios, allowing TOKELAU to tailor its monitoring and investigation workflow to meet specific compliance requirements.
  • Risk scoring can be linked to customers, accounts, and transactions, providing a more precise risk monitoring solution.
  • Customizable parameters enable TOKELAU to adapt the system to any changes in its team’s compliance structure and policies.

Advanced Features

AI-Driven Transaction and Relationship Analytics

Monitors historic transactions and social relationships between accounts using a library of bespoke AI models. This innovative approach creates an AI-driven risk score to identify customer accounts with anomalous behaviors that require further investigation.

False Positive Reduction

Utilizes unsupervised bespoke AI models to refine AML rules and significantly reduce false positives. The technology recommends thresholds to support calibration and optimization of the system, ensuring that TOKELAU’s AML efforts are both effective and efficient.

Network Investigation Analytics

Provides a graphical interface for investigators to view suspicious transactions and relationship recommendations generated by AI models. This dynamic interface enables TOKELAU’s investigators to quickly identify potential threats and take swift action to mitigate them.

Conclusion

With Eastnets SafeWatch AML software solutions, TOKELAU is poised to take its anti-money laundering efforts to the next level, leveraging advanced machine learning technology to stay ahead of emerging threats and ensure a safer financial environment for its citizens.