Summary
Money laundering and the financing of terrorism are 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 Information Technology Service 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 analysing 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.
Using the goAML application these data are either submitted offline (through XML data exchange), online (through uploading the XML data messages) or through filling online forms on the FIU secure website.
The analysis features of goAML provide tactical and strategic support to investigative and analytical teams and utilises highly sophisticated but user friendly reporting features to chart high volumes of data to help understand the big picture. The goAML solution is well suited to both low and high data volume environments.
The goAML system is driven by a security model that specifies the kind of access rights each user has by providing an audit trail and log details of every transaction performed by each user.
Features
| Reports | Analysis & Visualization and Charting | |
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| All submitted reports that are uploaded into the system can be viewed under this module by selecting either STR data or CTR data sub-menu options. The submitted reports are sorted by report type, status, user and reporting entity. | For analytical purposes, the user may want to extract more information on Entity, Account and Person details. The purpose of this module is to analyze the contents of each report uploaded into the system: actual transactions, account activities and money movements. | |
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| Catalogue Search | Case Management | |
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| Catalogue search has the options of Account Lookup, Person Lookup as well as Entity and Address Lookup. Information on all these options can be obtained by selecting the required criteria parameters. | All the cases that have been raised by users on grounds of any abnormal or suspicious transaction/account activity are listed under this module. Further investigation can be carried out on any of these cases. |
Why goAML?
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.
Features
• Full graphical charting capabilities which are fully compatible with i2 Analyst Notebook©.
• Uniform system, which includes data collection (CTR/STR/SAR/CFT/EFT), collation, analysis, case workflow and intelligence dissemination.
• Visual representation of transactional link analysis, automated link analysis using addresses, phone numbers, company board membership etc.
• Support of multilingual user interface enables the user to operate the system in his/her own language.
• Data encryption ensures the safety of data even if the system is physically compromised.
• Fully customizable risk scoring for all the elements of a case.
• Availability of initial and ongoing user training.
• Fully customizable reporting interface enables the FIU team to view data the way they want to independent of each other.
• Many different views of data offered for analysis with links to other data analysis screens with drill down functionality.
• Fully automated data profiling that creates base lines for persons, occupation groups, business types and accounts, etc.
• Supports a wide range of data volumes depending on the reporting mandates in individual jurisdictions.
• XML based reporting standard between reporting entities and FIU guarantees syntactically correct reports from day one.
• Supports integration with additional data sources such as law enforcement, immigration, property registrar, vehicles registrar, criminal records, etc.
• Data collection is through the goAML secure website (hosted on the FIU's premises), via offline media (CD-ROM) or on predefined reporting forms.
• Fully customizable rule-based analysis enables the design of rules with dynamic risk scores; continuous scanning of data ensures that reported transactions fit the patterns.
• Versatile options like dynamic user filtering, grouping of data, export data to Excel, watch lists integration, analyst workspace and alert management.