PNB has selected the EDD anti-money laundering tool for use in its European branches after previously installing it in US and Manila offices.
The software is comprised of five modules that can be implemented separately or as a total solution.
The subpoena/inquiry module allows the user to perform real-time inquiries against a database of transactions and respond to regulators, subpoenas or internal inquiries.
The profiler module provides AML and terrorist financing detection scenarios and the ability to filter transactional or customer data for specific information such as PEPs, 314a, OFAC/SDN list, sanction list, FSA, and NCCTs.
Pattering develops transaction pattern profiles for each customer account or group of accounts allowing comparison of patterns periodically to report unusual variances.
The OFAC/sanction list module allows automated interdiction list filtering of transactional and customer data via real-time or file-based interface.
Finally, the CIP module scans new accounts in real-time or batch against any sanction list in order to comply with Section 326 of the USA patriot act.
