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What is Anti-Money Laundering?
Gartner defines the anti-money-laundering (AML) solutions market as the IT systems used to comply with the set of regulations, policies, and procedures designed to detect, prevent, and report those financial crimes that are associated with money laundering. Money laundering is the process used by criminals and criminal organizations to disguise illicitly obtained funds as legitimate revenue through the use of payments and funds transfers that exploit “money mules” and shell/holding companies. AML tools aim to prevent bad actors gaining benefits from their illegal activities and to combat crimes such as drug trafficking, tax evasion and human slavery.
SAS Anti-Money Laundering is a software designed to help financial institutions detect, investigate, and report suspicious financial activities related to money laundering. The software utilizes advanced analytics and machine learning to monitor transactions and customer behavior for patterns consistent with money laundering and other financial crimes. It enables automated risk scoring, scenario management, and event detection, supporting compliance with regulatory requirements. The software offers case management tools for organizing investigations and generating reports, facilitating collaboration among compliance teams. Its integration capabilities allow for connection with various data sources, enhancing the identification and management of potential risks associated with illicit financial activities.
Flagright is a software designed to facilitate anti-money laundering and fraud prevention for financial institutions. The software offers features such as real-time transaction monitoring, case management, risk assessment, and regulatory compliance automation. It enables organizations to detect suspicious activities by analyzing transactions and flagging potential risks based on predefined rules and machine learning models. The software supports custom rule creation and allows integration with existing systems through application programming interfaces. Flagright is structured to address challenges related to regulatory reporting, ensuring consistent monitoring of transactions while reducing false positives. By automating compliance and risk controls, the software aims to streamline the workflow for compliance teams and support the safeguarding of financial operations against illicit activities.
Sanction Scanner is a compliance software designed to support organizations in managing anti-money laundering requirements and sanction screening processes. The software provides features such as real-time sanction, PEP, and adverse media screening by accessing up-to-date global databases. It enables the monitoring of individuals and organizations against sanctions lists, politically exposed persons, and watchlists to help organizations comply with regulatory obligations. The software also offers transaction monitoring, customer risk assessment, and reporting capabilities to detect and prevent financial crimes, reduce compliance risk, and streamline regulatory reporting activities. Sanction Scanner is used in financial institutions and other regulated industries to automate due diligence procedures and support risk management objectives.
Nice Actimize is a software designed to support financial institutions in mitigating financial crime, managing risk, and ensuring regulatory compliance. The software offers functionalities such as anti-money laundering, fraud detection, and trade surveillance which enable organizations to monitor and analyze transactions, identify suspicious behaviors, and comply with global finance regulations. Nice Actimize helps streamline investigation processes by providing automation and advanced analytics, facilitating case management, and improving overall efficiency in risk assessment for banks and financial entities. This software addresses the business problem of financial crime and regulatory obligations by centralizing prevention, detection, and reporting in one platform.
Dow Jones Risk & Compliance is a software designed to assist organizations in managing regulatory and reputational risks by providing risk data, due diligence tools, and automated screening solutions. The software offers features such as watchlist monitoring, adverse media screening, and identification of politically exposed persons to support compliance with anti-money laundering and anti-bribery regulations. It helps organizations streamline workflows and improve the process of customer and third-party onboarding, ongoing monitoring, and enhanced due diligence. The software aims to support businesses in meeting global compliance requirements, reducing exposure to financial crime, and maintaining adherence to internal risk management policies.
SAS Financial Crimes Analytics is a software that provides advanced analytical capabilities for detecting and preventing financial crime in organizations. The software utilizes machine learning, network analysis, and risk scoring to identify suspicious transactions and patterns associated with fraud, money laundering, and other illicit activities. Features include automated alerts, case management, and integration with external and internal data sources for comprehensive analysis. The software addresses business challenges related to compliance and regulatory requirements by enabling rapid investigation and thorough monitoring of financial activities to mitigate risks and ensure adherence to legal mandates.
RelyComply is an advanced KYC and AML platform designed to help banks and financial institutions lower their risk and supercharge their detection capabilities. The RelyComply platform provides an intuitive and adaptable solution for managing all KYC and AML requirements through a single, fully integrated platform enabling organisations to detect, assess, and mitigate financial crime risks effectively.
With a focus on automation and data-driven insights, RelyComply enhances operational efficiency by reducing manual effort and improving decision-making. The configurable workflows and real-time risk scoring allow compliance teams to manage complex compliance requirements with greater accuracy and speed.
The platform integrates seamlessly with existing systems, offering a scalable approach to compliance management that evolves with regulatory changes and business needs.
SAS Real-Time Watchlist Screening is a software designed to support organizations in identifying potential risks by screening transactions and entities against watchlists. The software automates the screening process by comparing customer and transactional data with updated watchlists, enabling organizations to detect suspicious activities or sanctioned individuals in real time. Features include customizable rules, fuzzy matching, and advanced analytics to enhance detection accuracy. This software is used in compliance and risk management to help businesses meet regulatory requirements related to anti-money laundering and other financial crime regulations, reducing the risk of inadvertently processing transactions with prohibited entities.
ComplyCube software provides identity verification, anti-money laundering screening, and compliance automation solutions for businesses. The software offers features such as document verification, biometric checks, and ongoing sanctions monitoring, enabling organizations to streamline their customer onboarding processes while ensuring regulatory compliance with global standards. By automating due diligence procedures and integrating advanced risk assessment tools, the software helps mitigate the risks associated with fraudulent activities and non-compliance, supporting companies in sectors such as finance, fintech, and online marketplaces to maintain swift, secure, and compliant operations.
FinScan is a software that provides compliance and risk management capabilities for financial institutions and organizations. The software performs screening of customers and transactions against regulatory watchlists and sanctions lists to support anti-money laundering and counter-terrorism financing efforts. FinScan offers features such as data quality management, advanced filtering algorithms, and configurable workflows that assist users in identifying potential risks and ensuring regulatory compliance. The software addresses the business problem of efficiently managing compliance obligations by automating the process of detecting and managing potential matches, thereby reducing manual screening and supporting adherence to global regulatory requirements.
Monitor Plus ACRM+ is a software designed to support organizations in managing regulatory compliance and risk assessment processes. The software facilitates the identification, evaluation, and reporting of compliance risks by providing modules for documentation, workflow automation, and analytics. It enables users to track regulatory mandates, automate control testing, and manage incident records, helping organizations establish consistent compliance practices. Monitor Plus ACRM+ offers dashboards and reporting tools that allow visibility into compliance status and risk trends, aiming to streamline governance for audit and regulatory requirements. The software is intended to address challenges in manual compliance tracking, documentation upkeep, and risk mitigation efficiency.
AML Watcher is a software designed to assist organizations in detecting and managing risks associated with money laundering activities. The software offers features such as real-time transaction monitoring, customer due diligence, and automated compliance processes. AML Watcher incorporates screening tools for sanctions, politically exposed persons, and adverse media lists, aiming to streamline regulatory reporting and alert generation. The software enables organizations to set risk profiles, identify suspicious patterns, and maintain audit trails for internal review or external regulatory requirements. AML Watcher addresses the business problem of achieving anti-money laundering compliance by automating processes that help minimize manual effort and reduce the likelihood of regulatory violations.
IntelleWings is an advanced software platform that helps financial institutions & businesses ensure compliance with Anti-Money Laundering (AML) and related regulatory requirements. It provides comprehensive compliance ecosystem supporting digital transformation, with technology layer addressing specific regulatory challenges
Powered by AI and machine learning, IntelleWings analyzes data to detect suspicious patterns, enhances risk visibility, & ensures timely responses to evolving consumer & regulatory expectations.
Suite includes Suspicious Transaction Monitoring, Customer Risk Categorization, Watch List and Adverse Media Filtering, Regulatory Reporting, Fraud Management, & Customer & Transaction Link Analysis
With a modular & secure interface, solutions can be deployed individually or in combination. Through automation, strong data security, & intelligent workflows. IntelleWings enables financial institutions to improve compliance efficiency & strengthen fight against financial crime
Nasdaq Verafin AML/CFT Compliance and Management software provides institutions with capabilities for anti-money laundering and counter-financing of terrorism compliance. The software offers automated detection and monitoring of suspicious activities through advanced analytics and machine learning algorithms. It assists in regulatory reporting, case management, and risk assessment, enabling users to investigate anomalies with data-driven insights. The software supports transaction monitoring and customer due diligence, aiming to address regulatory requirements and assist organizations in identifying and reducing financial crime risks. It streamlines compliance operations by providing investigative workflows and customizable rules to adapt to evolving financial regulations and threats.
221b AML Network Analytics is a software designed to assist organizations in monitoring and analyzing financial transactions for the purpose of detecting and preventing money laundering activities. The software applies network analysis techniques to map relationships among entities, transactions, and accounts, enabling the identification of suspicious patterns and potential risks within financial data. It automates the process of uncovering hidden connections between individuals and organizations, supports compliance with regulatory requirements, and helps streamline investigation workflows. The software aims to reduce false positives, accelerate case resolution, and improve the efficiency of anti-money laundering operations through advanced analytics and visualization capabilities.
AML Wizard is a software designed to help organizations comply with anti-money laundering regulations by streamlining risk assessment workflows, automating monitoring, and managing compliance documentation. The software offers features such as customer due diligence, risk profiling, ongoing transaction monitoring, and alert management to support regulatory requirements and internal policies. AML Wizard assists institutions in identifying and assessing potential risks by providing tools for data collection, record keeping, and reporting. The software addresses the business challenge of managing and documenting anti-money laundering processes effectively, reducing manual effort and supporting an auditable compliance framework.
Aric is a software designed to support management and optimization of operations within telecommunications. The software utilizes artificial intelligence and automation to analyze network activity, detect anomalies, and provide insights for fraud prevention, revenue assurance, and risk management. Aric enables businesses to monitor data streams, identify irregular patterns in transactions, and support decision-making processes by delivering actionable intelligence. The software integrates with existing operational workflows to improve efficiency and reduce potential losses related to fraud and revenue leakage. Aric addresses the need for enhanced network reliability and financial accuracy in complex operational environments within the telecommunications sector.
Azentio AMLOCK is an AI-powered platform for financial crime and compliance management, designed to help financial institutions address the challenges of financial crime prevention. It provides an integrated framework for KYC onboarding, real-time screening, continuous monitoring, regulatory reporting, and case investigation. The platform consolidates data from multiple sources and applies advanced analytics to support accurate detection and prevention of money laundering and other financial crimes. Developed in alignment with regulatory requirements, AMLOCK supports institutions in multiple geographies in maintaining compliance and strengthening operational risk management.
CGI Hotscan360 is a risk management platform that offers two main modules: Payment Filtering / Sanction Screening and a Fraud Detection Module. Both of these modules offer real time payment screening. The Payment Filtering / Sanction Screening module is focused on real time rules based scanning, augmented with Human-in-the-Loop AI functionality. This module also features rich watchlist screening functionality with the ability to scan transactions against multiple watchlists simultaneously. The system is highly scalable in terms of scanned transaction per millisecond, and also in terms of the total volume of payments.
Clari5 is a software designed for real-time financial transaction monitoring and fraud management within banks and financial institutions. The software utilizes analytics and machine learning to detect suspicious activities and potential fraud across multiple channels, including payments, cards, and transactions. Clari5 provides regulatory compliance support and risk mitigation by identifying anomalies and patterns indicative of financial crime. The software enables organizations to prevent and investigate fraudulent events, automate alerts, and enhance decision-making related to risk management. Clari5 helps address challenges such as financial loss, compliance requirements, and operational inefficiencies associated with complex transaction environments within banking operations.
Transaction monitoring (TM): This module is capable of ingesting data for financial events in the form of deposits and transfers (both internal and external). It must have links to the payments hub (or payment systems) at the bank and also its core banking system.
Orchestration: This applies to both data and processes. There must be a means of importing the right data, from the right systems and sources, at the right time, and then processing them in the right order. This is the “glue” that integrates the preceding four modules. Most vendors will have built their own orchestration capability, or else they will have adapted a standard business process management (BPM) tool for this specific purpose.
Decision engine (DE): This module is used to calculate risk scores and it must include a BRE and it is usually augmented by an ML model. The DE will process banking data accessed via the TM module. It will also need a set of API connectors for ingesting additional data from security systems such as device ID, location intel and behavioral biometrics. Some of these APIs will be standard off-the-shelf connectors for common systems and others will be custom-made for a specific deployment. The combination of BRE and ML is used to highlight suspected money laundering activity by calculating and then integrating the risk scores for: (a) The transaction; and (b) The customer or account
Reporting: There is always a capability for generating a report (such as a suspicious activity report [SAR] for the regulator) that states the judgment with an audit trail for how that decision was determined. Modern systems will include some kind of automation or AI to prepopulate the report as much as possible.
Case investigation (CI): Transactions highlighted by the DE as high risk need to be assessed by human case investigators. Bank staff will use the CI module to make an informed judgment about whether a particular transaction is a TP or a FP. The CI module will give access to additional data sources such as KYC, adverse media and watchlists to help make the judgment. To increase productivity and accuracy, modern case investigation modules typically include such capabilities as step-by-step automated workflow, AI assistants, agentic AI, smart allocation, triage for urgency/importance and suggestions for data source prioritization. Advanced CI will handle the simplest, most common and most certain cases entirely by machine (straight-through processing [STP]) with minimal or zero inclusion of a human analyst.
This service may contain translations provided by Google. Google disclaims all warranties related to the translations, express or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose and noninfringement. Gartner's use of this provider is for operational purposes and does not constitute an endorsement of its products or services.
