We believe that the cost of non-compliance is much higher than the cost of any kind of testing described above.  The variable that cannot be calculated is the “time” to be compliant. 

Therefore, we identified the most efficient and effective way to apply the continuous testing of our name screening and transaction monitoring capabilities by selecting AML Analytics’ tests.

The easy-to-use and fully automated procedure to apply the tests on our database, and the understanding of our vulnerabilities after the testing, has made change from a routine process to a completely new opportunity for us, and continuously comply with all the anti-financial crime, counter terrorist financing, and counter proliferation financing regulatory requirements.

The AML Analytics test results give us the reliable assurance that whatever is doubtful in our automated anti-financial crime controls will be highlighted and we can correct it.

The benefit of compliance testing through AML Analytics for us was and is shown in the Thematic Reviews of our regulators.