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Anti Money Laundering

ANTI MONEY LAUNDERING

International regulatory pressures to combat money laundering and terrorist financing have intensified at an unprecedented rate. Due to the nature of financial services, detecting and preventing financial crime is becoming more and more complex. Compliance professionals are thus looking for better and more cost-effective strategies. With a customer-centric focus, EastNets has developed solutions to address these specific challenges.

FL–SISTEM as EastNets’ Certified Business Partner (CBP) distributes the AML software programs, license and professional services for products as further described.

WATCH LIST SCREENING

en.SafeWatch Filtering is a web-based solution composed of a series of tools targeted to AML detection in real time and batch mode. With a highly-sophisticated matching engine, en.SafeWatch Filtering aims to be the central checking point for an institution’s financial traffic. Having a single detection point helps compliance officers and auditors to have only one interface where alerts from all sources are concentrated. En.SafeWatch Filtering can be interfaced to any banking application, operates on all major platforms, and filters any message type including SWIFT and SEPA.

DOW JONES LIST

Dow Jones Watch list is a structured global database, that contains the world’s largest financial institutions and regulated firms with a high quality, well-structured risk screening solution for effective Anti-Money Laundering, Know Your Customer and Counter-Terrorist Financing compliance.

Dow Jones Watchlist is statistically proven to be the most accurate, complete, and up-todate list of senior PEPs, their relatives and close associates.

Combined with accurate and comprehensive global coverage of highrisk individuals and entities within Dow Jones lists, en.SafeWatch Filtering enables you to fulfill regulatory requirements.

FATCA COMPLIANCE

Foreign Accounts Tax Compliance Act is intended to detect tax evasion by US persons who hide money outside the US, enables financial institutions to track and report their findings on their clients’ financial assets to the U.S. Internal Revenue Services. en.SafeWatch FATCA addresses the need to comply with the FATCA by providing a modern, flexible approach to gathering the required information and monitoring changes. This enables financial institutions to report their findings to the U.S. Internal Revenue Services (IRS).

en.SafeWatch FATCA based on standard databases and platforms, makes it easy to integrate with any banking application to capture data and provide precise information at any time. It allows the user to assign a specific status to existing and new customers using different criteria for each type of customer.

TRANSACTION MONITORING

en.SafeWatch Profiling is a rapidly deployable anti-money laundering solution with central data processing, trend analysis and suspicious behavior identification engine that provides a robust, effective and easy-to-use transaction and customer monitoring solution that is configurable and flexible to adapt to new risks and regulations.

en.SafeWatch Profiling also offers a set of predefined rules based on KYC controls, transaction monitoring, account behavior monitoring, relationship monitoring and counterparty activity monitoring.

KNOW YOUR CUSTOMER (KYC)

Financial institutions are in the front line against cross-border financial crime. Governments and regulatory bodies require extensive due diligence on the part of correspondents to know their customer – and their associates. KYC standards apply not only to new customers, but also to existing customers. Comprehensive KYC solution can help you streamlining the process of monitoring customers in an efficient and cost effective manner.

en.SafeWatch KYC helps Financial Institutions identify, verify and monitor their customers in real time. This automated system seizes, organises and stores customer information, assess the risk associated with an customer account using risk scoring methodology. The solution is flexible, adaptable and customizable. The results are provided in real-time and protection against unwanted risk and exposure and they ensure compliance with money laundering and terrorist financing directives.

eKYC Onboarding application covers the first phase of the AML review process is the Customer Identification Program (CIP), which involves collecting and verifying the new customer's information.
CIP is followed by Customer Due Diligence (CDD), which involves assessing the client to determine a low, medium or high-risk AML rating. In cases where a client is deemed to pose a high risk, the case is escalated to the chief AML officer or designee in a process known as Enhanced Due Diligence (EDD).

Only after CDD/EDD has been approved can an account be created in accordance with financial regulations and requirements.

eKYC Onboarding application is developed by FL-SISTEM.

Key features and benefits

Ensure Compliance with AML Laws and Regulations

Maintain a Low False Positive Rate

Control costs with F.L.-Sistem shared infrastructure deployment and implementation

Ensure smooth and seamless integration with existing systems & applications Comprehensive list support: In-house, EastNets provided lists services, and reputable vendors lists (Dow Jones, World Check, World Compliance, Accuity

Company name: FL-Sistem d.o.o. | Registered company seat: Kameniti stol 4, 10000 Zagreb | The Commercial court of Zagreb | Core capital: 30.694,00 Kn fully deposited | Management board - Hrvoje Filipan and Marko Vidošević | Company's bank account numbers: Zagrebačka banka d.d. Trg Josipa Jelačića 10 2360000-1101211990 | SG Splitska banka d.d., Ruđera Boškovića 16 Split 2330003-1100204304 | Veneto banka d.d., Draškovićeva 58, Zagreb 2381009-1123000345 | Istarska kreditna banka Umag d.d., Ernesta Miloša 1, Umag 2380006-1140024825
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