AML monitoring and investigations

In Banking and capital markets

Our anti-money laundering (AML) monitoring and investigations services help deliver meaningful, data-driven insights and skilled resources to identify suspicious financial activity more quickly and accurately, reduce the quantity of false positives, and improve the efficiency of your AML processes.

Related topics Banking and capital markets Financial Services Disrupting financial crime Enterprise protection in banking

The team

Ron Giammarco

Ron Giammarco

EY Americas Financial Services Information Technology Consulting Partner

Steven Beattie

Steven Beattie

EY Global Financial Crime Operations and Consulting Leader

What EY can do for you

Banks and other financial institutions must carefully monitor operations for suspicious activity potentially related to money laundering and report it quickly and accurately. But the best way to conduct such monitoring and reporting is less clear.

Huge investigative teams are costly to maintain. Massive and highly complex data sets are challenging to manage, manipulate and analyze. Manual processes and outdated systems reduce speed and accuracy and may limit visibility and audit trails. Also, many institutions find it difficult to access skilled and experienced specialists when they need them and struggle to build credibility with regulators.

EY AML transaction monitoring services help financial institutions address these issues and instill more efficient and effective monitoring capabilities. The flexible and scalable approach brings together advanced technology and process automation, along with deep industry knowledge, skilled teams and robust operational support. The result? Banks can design, implement and manage an AML monitoring program that suits their needs – even as those needs change.

The suite of services for AML monitoring and investigation includes:

  • AML alert and case investigation services

    EY global hubs provide experienced resources for investigation and escalation of alerts, with automated and integrated quality control processes. Access to EY teams means banks can scale up or scale down their investigation capacity in line with shifting volumes, without the burden of hiring and training scarce talent. They can also build a location strategy, taking advantage of onshore, offshore, and nearshore resources to meet cost objectives.

  • Investigation automation

    Enhanced evidence gathering, cognitive investigation and automated alert disposition are components of a proprietary “negative news engine” based on artificial intelligence (AI) and machine learning models. Robust entity resolution and AI-driven smart-decisioning for alerts and cases are designed to reduce false positives. Auto-narrative generation is built on natural language understanding to reduce dependency on skilled human intervention.

  • Platform-as-a-Service (PaaS)

    This dynamic and intuitive user-interface workbench features pre-built rule catalogues aligned to industry standards, with capabilities for plug-and-play and new rule creation. It also offers threshold initialization, access restrictions, approval mechanisms and full audit trails for improved decision-making.

  • Tuning-as-a-Service (TaaS)

    Analytics-enabled visualization tools and quantitative tests statistically validate customer segments and monitoring models. Threshold tuning (based on interactive top-down and bottom-up analyses) and interactive above-the-line (ATL) and below-the-line (BTL) sampling reviews help enforce quality.

Why EY

EY is a worldwide leader in the fight to disrupt financial crime. EY teams made up of 3,800+ industry and domain professionals from across the globe bring a wealth of knowledge and strong relationships with regulators.

We have led financial crime transformation and remediation programs at 7 of the 10 largest financial services organizations. 

We have invested US$100m in a proprietary financial crime compliance platform, which is the foundation for monitoring and investigation services. Based on industry standards and controls, the platform facilitates the use of AI and machine learning so banks can incorporate larger and more complex data sets into their monitoring programs and analyze them more precisely. Its flexible and scalable design allows banks to evolve their monitoring capabilities as their needs change.

Delivered through a network of global service centers, our managed services offering supports the entire AML lifecycle, with comprehensive monitoring and investigation support, model tuning and maintenance, transformation and re-engineering, and reporting.

Other EY services to help banks fight financial crime include:

Protecting the enterprise

We help protect your enterprise from a large and expanding set of risks, including cyber, fraud, financial crime, and data privacy and protection.
 

Explore our latest thinking on protecting the enterprise in financial services.

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Contact us

Want a demo of our AML monitoring and investigation tool? Get in touch.