ARGO OASIS™ (Optimized Assessment of Suspicious Items) AML identifies potential money laundering/terrorist financing activities, heightens due diligence, provides comprehensive case management capabilities, as well as risk and compliance support with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulations. With the ARGO solution, institutions are equipped with tools to help protect them against regulatory risks, reputational risks, and financial losses.
Entity Risk Assessment
One way the solution provides risk and compliance support is by performing entity risk assessments to review the context of an entity. Context includes who is conducting the transaction—a business or a person—and the account attributes such as the length of the relationship and the number of accounts. Types of risk include:
- Intrinsic risk
- Geography risk
- Products and services risk
Another way OASIS AML helps institutions with risk and compliance support is by aggregating cash transactions across the branch network. The solution compiles multiple transactions that occur on the same processing date for the same account number or person involved in the transaction.
Social Network Analysis
The OASIS AML solution provides additional risk and compliance support by identifying connections between individuals and entities, using transaction data. The solution analyzes a customer’s activities individually—for single or multiple accounts belonging to the same customer—or in combination with other customers.