Money Laundering Reporting: Reporting suspicious activity electronically
The increase in money laundering cases is driving the digitisation of reporting processes forward. Since 1.1.2020, the Swiss Money Laundering Reporting Office (MROS) only accepts electronic reports via the goAML system.
We have developed a fully integrated goAML reporting solution in Avaloq. During development, we focused on achieving the maximum possible degree of automation and a user-friendly and clearly structured user-interface.
The result is the fully integrated reporting solution "Money Laundering Reporting". Thanks to this solution, Avaloq banks can now easily meet MROS specifications. The product has already established itself as a reference customisation in the Avaloq community and has become the standard for reporting to MROS and other money laundering reporting offices that rely on goAML.
Your contact:
Pascal Inauen
Head Business Development & Training
Report suspicious activity in 4 steps
Each suspected case is accompanied by a form through the reporting lifecycle. This ensures full audit capability.
- Raise suspicions: Identify the party to be reported, record transactions and time period, justification and activity, and assign indicators.
- Select transactions: Marking the relevant transactions, which can be supplemented with optional information for each transaction.
- Refine XML: Create and delete nodes, flexible editing of individual fields and simple XSD validation to ensure XML conformity.
- Export and transfer to goAML: Finalisation and storage of the XML, plus archiving in Avaloq. Transfer to the goAML platform as a zip file together with additional relevant documents.
Maximum automation
This standardised solution brings maximum automation to your reporting process, minimising the time & cost incurred by your department when processing and controlling suspicious activity.
Clearly structured
This user-friendly solution offers an additional advantage with guided processes, making it easy to operate. The solution also provides an overview of the current status of the report at all times.
Fully integrated
Every step of the process, from the investigation of the suspected case to the creation of the XML and upload to the goAML platform, is carried out within Avaloq. This ensures both archiving and an audit trail.
Proven time and again
Many Avaloq banks have already benefited from the short implementation time of this standard solution. Avaloq Sourcing (Switzerland & Liechtenstein) SA also relies on our solution for its BPAAS and SAAS customers.
Always up-to-date
Once in operation, we will also be happy to take over the technical and business maintenance of the solution for you. We monitor the requirements of the money laundering reporting offices and adapt the process if necessary. This allows you to concentrate on identifying and clarifying suspicious activity.