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SFinCS: the system of financial monitoring of the bank |
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The system has been designed to automate the process of financial monitoring in the bank in order to prevent legalizing (laundering) illegally gained money.
Basic Functions of the System:
- Filing financial monitoring operations (according to existing documents, the customer's account). The details of the financial transaction can be entered manually and without checking with any documents, accounts, customers of the bank.
- Filing information about the participants of the financial operation referred to the financial monitoring.
- Filling in application forms of the bank's customers (juristic persons, natural persons, financial correspondent establishments).
- Creating financial monitoring information exchange files, acknowledging receipt of financial monitoring files (implementing the electronic digital signature of the bank's employee responsible for them).
- Keeping the registry of operations to be financially monitored.
- Keeping a blacklist of natural persons and organizations that support terrorist movements and organizations, or are involved in granting them financial support. This list can also be used for storing information on people and organizations that are disapproved of and therefore are to be avoided by the bank in order to prevent bank fraud.
- Uploading data from "OFAC (SDN) (Office of Foreign Assets Control SDN and Blocked Persons" files to the blacklist.
- Uploading data from the "World Check" files to the blacklist.
- Keeping a list of people involved in financing terrorist activity according to the information provided by the State Committee for Financial Monitoring of Ukraine.
- Non-specific blacklist search (based on a preset coincidence percent) for any records on customers (when a counteragent's card is added, according to essential elements of the payment documents, search in the directory itself), and search in the list of people involved in financing terrorist activity.
- Automated selection of financial operations (based on existing documents) which are to be subject to financial monitoring at the moment of the bank day closure. It is worth mentioning that selection principles can be flexibly set in the system.Filling in all the necessary statistic reports for the NBU (forms 200 and 201).
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