AML (Anti-Money Laundering) feature

Introduction to AML features

Anti-money laundering (AML) is a feature that identifies risk by comparing your identity information against a global risk database. AML helps you assess your trustworthiness, identify risk factors, and take appropriate action.

 

AML Risk Icon

Red Flag (High): SAN-CURRENT, PEP-CURRENT, REL

Red Flag (Medium): PEP-LINKED, PEP-FORMER, SAN-FORMER, POI

Red Flag (Low): RRE, INS, DD

Not Screened: No matching result

 

AML Screening Thresholds

AML screening thresholds are the thresholds used by the system to determine risk. Users can set this value to adjust the sensitivity of the risk assessment.

Higher threshold settings identify more risk factors, while lower settings identify fewer ones. The setting can be customized based on business needs.

 

Input Fields
The following fields are used to determine whether the name of the search subject matches the name of a risk person in the AML database.

  1. Name (case, capitalization, accent, and name reordering applied)
    A string distance algorithm is used to measure the difference between names.
    AML uses the ARGOS library to search for similar names or nicknames. Completely different text can be matched based on the ARGOS library. Search results for people who are searched by a nickname rather than a full name may include person data that matches the full name or nickname. For example, a search for Tony will return people's data for Anthony and Tony. ARGOS constantly expands the scope of similar name or nickname searches to provide more accurate search results.

    Name search: language variant search (based on Levenshtein distance algorithm, original language search/similar pronunciation search)

  2. Date of birth
    AML checks the match status between the input and the date of birth in the ARGOS database. If the date of birth of the profile does not match exactly, the search match rate is recorded as 80%.

  3. Nationality
    AML checks the country match status between the input value and the ARGOS database. If the country of the profile is not an exact match, the search match rate is recorded as 80%.


The final match score is calculated by averaging the values of the input fields.
The values for each field are averaged, as shown below.


Example)
Name Matching Score: 86%,
Date of Birth Matching Score: 100%,
Nationality match: 80
Final search match rate: (86% + 100% + 80%) /3 = 88.67%.

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