Transaction Monitoring
Software that analyses transactions in real-time or batch to detect patterns indicative of money laundering.
AML Software
Money Laundering Software
Guide to money laundering software solutions. Compare AML detection software features for transaction monitoring, customer screening, and suspicious activity detection.
Key Information
Understanding Money Laundering Software
Money laundering software encompasses technology solutions designed to help businesses detect, prevent, and report money laundering activity. Modern AML software combines transaction monitoring, customer screening, case management, and reporting capabilities.
The right software solution depends on your business size, transaction volume, and risk profile. Options range from point solutions for specific functions to comprehensive platforms covering the entire AML lifecycle.
Money Laundering Software Features
Customer Screening
Tools for sanctions, PEP, and adverse media screening during onboarding and ongoing.
KYC Automation
Digital identity verification and document collection platforms for customer due diligence.
Case Management
Workflow tools for investigating alerts, documenting decisions, and managing investigations.
Risk Scoring
Systems that assess and score customer ML/TF risk based on multiple factors.
Regulatory Reporting
Tools for generating and filing SMRs, TTRs, and other regulatory reports.
Frequently asked questions
What is money laundering software?
Money laundering software refers to technology solutions designed to help businesses detect and prevent money laundering. This includes transaction monitoring systems, customer screening tools, case management platforms, and regulatory reporting solutions.
Do I need money laundering detection software?
Whether you need dedicated software depends on your transaction volume, customer complexity, and risk profile. High-volume businesses typically require automated detection systems, while smaller entities may use manual processes or outsourced services.
What features should AML software have?
Key features include: rule-based and behavioural transaction monitoring, sanctions/PEP/adverse media screening, risk scoring, case management workflow, audit trails, regulatory report generation, and integration capabilities.
How does money laundering detection software work?
The software analyses transactions against rules and patterns, screens customers against watchlists, scores risk, and generates alerts for investigation. Analysts investigate alerts and determine whether to file suspicious matter reports.
AML Software Solutions
ARCaml combines software with expert services for comprehensive money laundering detection.