Launderers beware

J&B Software, a provider of transaction, document and payment system solutions, has released AMLOCK, the latest version of its Anti-Money Laundering (AML) software. AMLOCK is said to streamline the Bank Secrecy Act’s (BSA) compliance process as well as provide deeper profiling of accounts for banks, insurance, asset management and brokerage firms.

Offering an end-to-end, risk-based approach to AML compliance, AMLOCK employs an easy-to-use interface for all functions, from "knowing your customers" to risk-based transaction monitoring with extensive case management and easy filing of compliance reports, says J&B.

Additionally, in-house personnel can accomplish making changes to transaction monitoring scenarios when required by changing AML’s threat scenarios. Further, says the company, AMLOCK provide a "what if" capability to allow compliance personnel to see the results of a proposed change before making it permanent within the system.

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