Suite Hawk AML

 

The Hawk AML Suite is the first AML Information System to cope with the anti-money laundering dispositions.


Set up by application modules that can be activated any time, it is capable of supporting the Anti-money laundering Function for the activities connected to all compliances imposed by the Italian Legislative Decree 231 of 21 November 2007 and subsequent implementing acts.

The Suite, which has been designed and set up with the support and experience of experts and organised in modules complementing each other, allows operating autonomously or in addition to software solutions used in the view of the protection of investments made over time, supplying possible functional enhancements.

It allows the management of entering data towards the Hawk suite, receiving the data extracted from the company computer systems used by the financial intermediaries, such as the biographical data of clients referred to Due Diligence, data registered in the AUI and additional information referring to reports/contracts.

The data stocking is forecasted periodically, with personalized update frequency on the basis of the operational choices of the client.

Responsible for the management of biographical data of clients and data of Due Diligence, allows, if necessary, the integration of the information for the in-depth analysis of knowing of the client.

It has been developed considering the needs and availability of data of the management system of the financial intermediary and, if necessary, foresees the manual collection of data of them, with concurrent normalisation of subjective and objective parameters set out by the regulation. Over time, the wide table system guarantees to the operational plants of financial intermediaries the maximum homogeneity in the definition of the activities of assessment and control. The Customer component foresees the use of private databases, callable through web-services, for the controls on the terrorism lists, PEP, PIL and crime, such as Worldcheck and SGR Consulting, and the comparison of data declared during the suitable assessment by accessing the Cerved databases.

It allows the standardisation and assessment of the risk factors deriving from more sources, using the information on clients and integrating them with the data collected by the external data bases.

Through the averaging algorithm, it arranges for the generation of the risk profile of money laundering or financing of terrorism.

It presents a system of personalised consideration that allows the intermediaries to manage the level of risk associated to the parameters on the basis of their specific business requirements and specificities. These settings can be assessed in the current use and improved so as to face and manage current and emerging risks.

This component is dedicated to the evaluation of the operational occurrences linked to anomaly indicators, which are detectable on a daily and monthly basis from various sources, and allows to those responsible for inspection to evaluate unusual transactions with regard to the risk profile of the customers. The module’s innovation consists in the processing and standardisation method of data which are analysed in a format compatible and aimed at the detection of anomaly indicators suggested by the Italian Revenue Agency, thereby facilitating a comparison that would otherwise not be feasible.

It is the application component responsible for the management of practices, called atypical transaction, which can generate, according to the new signal model for all categories of intermediaries, the suspicious transactions (SOS) to submit to the UIF.

Using the workflow, it automatized the management of the loading of advisories, according to the segments set out by the regulation, producing the file in XBRL format (Extended Business Reporting Language) to submit to the Italian Financial Intelligence Unit (UIF).

Besides the management of the communications towards the Supervisory Organs, the module eases and documents the communications among the different internal operational units of the financial intermediary.

In order to ease the controls of the Anti-money laundering Function, there are optional modules as stated below:

KYC MANAGEMENT

It allows having a complete overview of the client in a dynamic way over time, permitting a concise overview of the peculiarities that implicate the automatic increase of the risk profile of the client.

 RISK ASSESSMENT MODULE

It supports the Aml Function in the self-assessment of the risks of money laundering and financing of terrorism and the production of reports for the Management and Supervisory Organs, allowing the aggregations of the information available at company level in a concise format, through a series of indicators aimed to highlight the presence of risk factors.