Anti Money Laundering Services | KYC Outsourcing & Anti Money Laundering Services
Anti-Money Laundering And Know Your Customer Anti-Money Laundering And Know Your Customer
Banking & Financial Services

Anti-money Laundering and Know Your Customer

According to expert estimates, money-laundering activities account for two to five percent of the global GDP. The challenges for Financial Institutions (FIs) today have become multifold with the increasing sophistication of money launderers. Intense scrutiny by regulatory authorities on the efficacy of Anti-money Laundering (AML) programs, and the risks of stiff penalties and loss of reputation place greater pressure on financial services organizations.

Banks and FIs need AML and Know Your Customer (KYC) programs that adopt a risk-based strategy and keep pace with constantly changing regulations across geographies. This includes an ongoing screening of customers and transactions through robust processes and reporting procedures. In short, they need a comprehensive and integrated AML-KYC lifecycle management that provides an accurate and total view of risks and vulnerabilities across the customer life cycle.

WNS’ AML-KYC services bring deep domain expertise and industry-led capabilities to provide integrated AML lifecycle management. Our comprehensive Business Process Management (BPM) offerings, supported by automation and analytics solutions, deliver insights that ensure smart and cost-effective AML-KYC operations and positive customer experiences across the US, UK, European Union and other geographies.

 
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Whitepapers

Can the Digital Revolution Help Banks Counter Money Laundering & Terrorist Financing?

 
 

WNS Advantage

Domain Expertise: Our pool of CAMS-certified AML professionals has strong and deep knowledge of the AML landscape across geographies, and extensive experience in managing diverse work in this domain. Our capabilities span the entire spectrum of customer screening and due diligence, and transaction monitoring and investigation services.

Regulatory Knowledge: We have well-defined internal practices and structured processes to ensure all our AML professionals are updated with the latest regulatory information and changes. The WNS Online Learning University enables our teams to be certified on the latest regulatory requirements. This ensures that our clients are compliant with the latest regulatory requirements at all times.

Integrated KYC - AML Services: Our KYC screening and due diligence services encompass the complete range of Customer Identification Program (CIP), Politically Exposed Person (PEP), Specially Designated National (SDN), Negative News (NN) or Adverse Media and Enhanced Due Diligence (EDD) monitoring. On the AML front, we track suspicious transactions, and compile and report associated Currency Transaction Reports (CTRs) and Monetary Instrument Logs (MILs). We also support investigations around the history of fraudulent and money laundering transactions.

Automation and Analytics: Our real-time automation ensures comprehensive risk profiling, with minimal human intervention. This combined with analytics-driven decision processes across the customer life cycle ensures total customer risk management and due diligence. Such efficiency results in minimizing false positive rates and improved productivity.

Testimonials

This allows Aviva to continue our working relationship with a provider that truly understands the insurance industry and has a tireless commitment to process excellence and customer care, making WNS our partner of choice.

Cathryn Riley, Chief Operating Officer, Norwich Union Life, Chairman, Aviva Global Services

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