The insurance industry presents a number of avenues for perpetrators to attempt
money laundering. Through Facctum's AML processes, compliance teams can
identify suspicious entities and activities in real time. Our solutions enable insurance
companies to effectively meet regulators' demands today, as well as keep up with
the constant changes in regulation.
Improve alert quality while reducing
false positives. With our global database
of sanctions and watchlists.
Get notified as soon as a critical change
in risk status occurs. Receive sanction
updates up to seven hours before.
Using webhooks, we allow for straight-
through processing and the freezing of
transactions in real-time.
Know Your Customers
It is imperative to minimize the risk your customers
bring. With our products, Facctum helps businesses
prevent financial crimes. Monitor for sanctions lists,
watchlists, and politically exposed persons (PEPs). Look
for fraud in claims and check payment before
Determine the ultimate beneficiaries under complex
ownership and control structures during claim payouts
or underwriting. Deploy effective anti-money
laundering and sanctions screening programs to
comply with increasing regulatory demands. Adopt a
transparent and easy-to-understand matching
technology. Meet auditor and regulatory requirements.
For insurance companies, transaction monitoring is
crucial to AML compliance. The Bank Secrecy Act
mandates that insurance companies monitor
transactions related to permanent life insurance
policies, annuities, and other products with investment
features. Keep an eye on life insurance policy transfers.
Using our solution, you can protect your company
against fraud as well as maintain an audit trail.