[Jan 24, 2021] The implementation comes considering State Bank of Pakistan’s (SBP) ever evolving regulations to combat Anti-Money Laundering (AML) and Counter Financing of Terrorism (DFT). The Bank aims to tackle risks associated with Anti-Money Laundering and regulate its Digital Banking ecosystem in-line with the SBP’s AML framework.
Through RiskNucleus®️ Transaction Monitoring module, analysts can review alerts generated through a configurable scenario manager, which can be used for creation & execution of various customized scenarios with flexible thresholds and arguments to track suspicious transactions. The module provides information related to alerts and the corresponding entity to enable users to quickly investigate, provide justification / evidence and take appropriate action including reporting STR and CTR. Additionally, all activities can be processed through configurable alert review process ensure adequate review. Reports and dashboards ensure adequate monitoring of the compliance framework.