CURENTIS AFC Factory
What is the CURENTIS AFC Factory?
The CURENTIS AFC Factory takes over tasks from the area of responsibility of the money laundering officer of a financial institution. It offers efficient, scalable and high-quality services that are tailored to the needs of the target group. Through the use of experienced experts, intelligent data analysis and artificial intelligence, we offer high-quality services in line with demand and create cost transparency and control.
The CURENTIS AFC Factory service portfolio at a glance
1
Preparation of the risk analysis
2
Implementation of backtesting
3
Support in the KYC process
4
Assumption of the function of money laundering officer
5
Exam preparation / support / follow-up
6
Design & implementation of internal controls
7
Alerts and case processing
8
Optimization of the AML regulations
Individual service, comprehensive expertise
Our process model is designed to offer customized solutions that are precisely tailored to your needs. We take your business model into account and analyze your risk categories. We keep an eye on new typologies and updated regulatory requirements and align our approach accordingly. Our trained and certified employees are at your side with their expertise and experience.
Why CURENTIS AFC Factory
Experience in regulatory affairs
With our experienced money laundering officers, you can be sure that your company is always up to date with the latest compliance standards.
Partner
We have a deep insight into our customers' specific systems and processes. Through close cooperation, we create customized solutions
Artificial intelligence
By using artificial intelligence, we automate standardized tasks in the anti-financial crime environment efficiently and precisely.
Focusing
Our comprehensive service package in the area of anti-financial crime offers you products, services and advice from a single source.
Our services
The AFC Factory offers comprehensive support in the area of anti-financial crime, from risk analysis to the optimization of regulations. We take on key compliance tasks and ensure effective monitoring and adaptation of your compliance measures.
Risk analysis
- Automated measurement of gross and net risk
- Consideration of all relevant typology papers
- Tool-supported preparation of analyses and reports
- Consistent, transparent and audit-compliant creation process
Backtesting
- Validation of the threshold values
- Checking the profile information
- Customize the parameters of the rules (exclusions, customer groups, ...)
- Examination of data quality
Support in the KYC process
- Creating and revising KYC policies and procedures
- Support in the selection, implementation and integration of KYC software solutions
- Responsible handling of the KYC process in daily operations
- Analysis of existing KYC processes to identify weaknesses and develop proposals for process optimization
- Support with data management and quality
Optimization of the AML regulations
- Development and refinement of the risk-based approach for determining and categorizing customer risks
- Documentation of the AML regulations as a derived result of the current risk analysis
- Optimization of systems for monitoring and analyzing transactions
- Ensuring the quality and integrity of customer data and data from transaction monitoring processes
- Expansion and updating of training programs for employees
Assumption of the function of money laundering officer
- Full or partial assumption of the tasks of the money laundering officer
- Development and implementation of prevention measures
- Support with documentation and reporting obligations
- Advising the management on AML issues
Alerts and case processing
- Processing of daily anomalies in operations
- Use of AI for (partial) automation of case processing
- Analysis and evaluation of historical anomalies to improve the regulatory framework
- Support in the preparation and submission of suspicious activity reports to the competent authorities
Embargo and sanctions check
- Review and update sanctions lists, including those of national governments (e.g. OFAC, EU sanctions lists), international organizations (e.g. UN) and regional bodies
- Implementation of software solutions for the automated checking of business partners and transactions against sanctions lists
- Monitoring and analyzing transactions
- Carrying out customer screenings (KYC processes) to identify potentially sanctioned persons or companies
Implementation of internal controls
- Creation and regular updating of internal guidelines and procedures for the prevention of money laundering and terrorist financing
- Monitoring and checking compliance with regulations as part of compliance monitoring
- Organization and implementation of training and awareness programs for employees
- Careful documentation of all relevant activities, decisions and measures in the area of money laundering prevention
- Identification of weaknesses and potential for improvement in the existing control system and implementation of suitable measures to strengthen internal controls
- Organization and implementation of internal audits
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Curious about the AFC Factory? Request a non-binding information flyer on all services!
Get in touch with us
Dr. Steffen Gutjahr
Head of AFC Factory
steffen.gutjahr@curentis.com
T: +49 6171 95598-22