#USA #New York #Identity Verification #Fraud Prevention #AU10TIX

AU10TIX Introduces Continuous AML Risk Monitoring

In a significant advancement for fraud prevention, AU10TIX, a prominent player in identity verification and fraud deterrence, has announced its latest solution: Continuous AML Risk Monitoring. This innovative service caters to the growing demand from businesses seeking robust security against financial crimes, enabling them to monitor risks in real-time across the customer lifecycle in a seamless manner.

Traditionally, anti-money laundering (AML) measures primarily relied on initial screening during the onboarding process or on scheduled reviews. However, AU10TIX's new system changes the game by implementing ongoing monitoring. This capability provides proactive scanning of critical data sources, including global sanctions lists, databases of politically exposed persons (PEPs), and adverse media reports, to detect anomalies as they develop. The process is not static; it dynamically adjusts screening intensity based on individual customer risk profiles and specific business requirements, ensuring a thorough approach to compliance with evolving regulations.

Yair Tal, CEO of AU10TIX, emphasizes the importance of real-time intelligence in reducing risks. He notes, "Mitigating risk requires more than just monitoring—it demands real-time intelligence powered by the best data available." By continuously cross-referencing premium data sources, AU10TIX empowers businesses to identify potential threats early, allowing proactive mitigation strategies before issues escalate into larger problems.

Key Features of Continuous AML Risk Monitoring

The new monitoring system boasts several advanced features, including:

• - Real-time Alerts: Businesses receive immediate notifications about fraud and money laundering risks as they arise.
• - Adaptive Risk Scoring: The system recalibrates risk scores continuously, responding to real-time data and changing user behaviors.
• - Customizable Thresholds: Flexible risk evaluation thresholds are tailored to the individual risk levels of customers.
• - Extensive Coverage: The monitoring service includes data from over 240 countries and 1,600 government sites, ensuring a comprehensive reach.
• - Unified Dashboard: A centralized interface provides users with all identity verification and AML results in one place.
• - Integrated KYC and KYB Support: The monitoring aligns both Know Your Customer (KYC) and Know Your Business (KYB) processes into a singular compliance framework.

A Comprehensive Approach to Risk Management

AU10TIX's AML solution utilizes a proprietary decision-making framework, along with customizable workflows and a user-friendly dashboard to simplify risk management and due diligence. By leveraging high-quality real-time data harvested from more than 100 global sanctions lists, 1,600 government sources, and approximately 30,000 news outlets, AU10TIX maximizes the accuracy and speed of its alerts while minimizing the occurrence of false positives. Moreover, its versatile API facilitates the integration of KYC, KYB, and AML checks, allowing businesses to improve efficiency and save costs during compliance activities.

Founded in 2002, AU10TIX's mission remains to foster trust between entities and digital platforms. With an extensive background in identity management, the company has protected major brands against sophisticated fraud threats. Their state-of-the-art solutions allow for customer onboarding and verification processes that can be completed within a swift 4 to 8 seconds. As fraud tactics evolve, AU10TIX remains committed to advancing its products to meet ongoing regulatory demands effectively.

With deep-rooted expertise in airport security, AU10TIX has successfully authenticated billions of identities and prevented over $24 billion in identity fraud reported to date. As a subsidiary of ICTS International N.V. (OTCQB ICTSF), AU10TIX offers the industry’s only fully automated global identity management system capable of detecting mass fraud schemes through intelligent analysis of traffic patterns and data cross-referencing among a collaborative network of over 60 major firms.

For businesses looking to fortify their defenses against financial crime, AU10TIX's Continuous AML Risk Monitoring represents a crucial evolution in the realm of compliance and fraud prevention. More information on this cutting-edge service can be found at AU10TIX.com.