Information


Money laundering and the financing of terrorism goAML wagonwheelare global problems
that can threaten the security and stability of financial institutions and systems, undermine economic prosperity and weaken governance systems.

The goAML application is a UNODC strategic response to financial crime including money laundering and terrorist financing. The goAML application has been developed by the Enterprise Application Center Vienna (EAC-VN) of UNODC in partnership with the UNODC Global Programme Against Money Laundering. It is an integrated database and intelligent analysis system intended for use by Financial Intelligence Units worldwide.

Financial Intelligence Units play a leading role in any anti-money laundering regime as they are generally responsible for receiving, processing and analyzing reports made by financial institutions or other entities according to the requirements of domestic anti-money laundering laws and regulations. Such reports and other information gathered by FIU's often provide the basis for investigations into money laundering, terrorist financing and other serious offences.


The goAML solution is executed in three steps: collection, analysis (rule-based analysis, risk-score and profiling) and dissemination (escalate to law enforcement and seek feedback). It provides a facility for the rapid exchange of information between the FIU, financial institutions law enforcement and judicial authorities, while ensuring confidentiality of the data collected. The goAML software is designed as a modular system to fit the needs of any FIU irrespective of size.

An FIU receives data from financial institutions and other reporting entities in the form of:

  • Cash Transaction Reports (CTR)
  • Suspicious Transaction Reports (STR)
  • Electronic Funds Transfer Reports (EFT - including International Funds Transfer Reports)
  • List-based reports such as reports generated from lists of known terrorist identities.


 


Objectives:

  • Assists countries to meet international standards by establishing effective Financial Intelligence Units.
  • Provides a uniform and standard AML platform to fight money laundering.
  • Designed as a modular system to fit the needs of any FIU irrespective of size.
  • An integrated system which can replace several disparate solutions.
  • Helps reduce the learning curve for new users with its standard graphical user interface on all goAML screens.



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