Financial Crime and Bank Fraud
Apply Deep Risk Investigations To All Aspects Of Your Anti-Money Laundering Strategy
Financial Institutions are on the front lines in the fight against money laundering and terrorism, and the cost of failure is tremendous. Financial institutions face massive financial penalties, personal liability of senior managers, and unshakable reputational damage to the institution when it is used to launder money.
National security is also at risk when financial institutions are unknowingly used for money laundering by threat actors. Financial institutions must enhance their anti-money laundering strategies and capabilities to stay one step ahead of this risk.
Conduct Due Diligence
Know your customers and understand their financial behavior and risk level for money laundering or terrorism financing.
Analyze Cryptocurrecy Usage Across the Web
Analyze cryptocurrency activity beyond the blockchain to find potential nefarious activity indicative of money laundering behavior.
Source of Wealth Discovery
Understand and identify a customer’s source of wealth from a variety of online media and assets to provide a complete financial view.
Counter Terrorism Financing Prevention
Analyze data on companies and employees to minimize exposure and risk associated with terrorism financing.
Ultimate Beneficial Ownership Identification
Gain insights into hidden connections that may expose your financial institution to financial crime, bribery, or corruption risk.
Asset Tracing
Use web intelligence to conduct financial investigations to determine a subject's assets.
Anti-Money Laundering Capabilities & Key Features
Cobwebs Technologies puts AI-powered, law enforcement-grade web investigation tools in the hands of financial professionals. Financial professionals can now access relevant risk data from all levels of the web simultaneously, automatically uncovering and mapping hidden networks, and generating risk insights collected from big data relevant to a client.
With our system, users can reduce manual online investigations that once took days, to now a few hours using automated search, analysis and monitoring capabilities.
Conduct Deep Due Diligence
Automatically generate decision-quality insights based on precise data, encrypted databases, local multi-language media sources, and sentiments from across the web.
Ensure Safe Partnerships
Global business brings local risks. No matter where you operate, our system allows you to map out a local partner’s ecosystem, identifying any harmful activities.
Prevent Illegal Trafficking
Manage your portfolio proactively by detecting exposure from ominous online chatter to damaging reputational issues that can increase risk.
Find Your Dormant Clients
Utilize machine-learning image analysis, character recognition, and other digital clues to trace the beneficiaries of dormant accounts.
Bridge the World of Cryptocurrency
Transactions sourced from ICO profits and other cryptocurrency activities.
Real-Time Automated Alerts
Automated alerts according to predefined triggers for round-the-clock supervision and protection.
Anti-Money Laundering Use Cases
Know Your Client / Know Your Partner
Understand who your customer or partner is by generating web intelligence to mitigate any risk they pose.
Ultimate Beneficial Ownership
Using AI-powered web intelligence, gather information about online activities to effectively evaluate data and sources. Using this intelligence, determine who your financial institution is doing business with to prevent money laundering and other nefarious activity.
Analyze Cryptocurrency Activity Across All Layers of the Web
Analyze cryptocurrency activity beyond the blockchain to see the people and entities sharing wallets to fund potentially illicit activity.
Deep Due Diligence
Fully understand the entity your financial institution is doing business with by using web intelligence to conduct deep due diligence. This analysis will bring to light any hidden risk by scanning and analyzing activity across all layers of the surface, deep and dark web.
Source of Wealth Discovery
Conduct online, automated research to support Source of Wealth Discovery using AI-powered automated web intelligence.
ESG Standards Evaluation
Identify integrity risks by scanning the surface, deep and dark web for adverse media to analyze the company’s perception in the market.
Reputation and Brand Awareness
Generate online intelligence related to how a brand is perceived online to understand reputation and any risk associated with doing business with it.
Counterterrorism
Using AI-powered web intelligence, trace and analyze potential online activity related to terrorism financing that could impact a financial institution.
Dormant Account Tracing
Using open source intelligence gathered and analyze across all layers of the world wide web, identify the owners and next of kin for inactive accounts.
M&A Due Diligence
Research and analyze online activity of companies, employees and others using open source intelligence to find any risk associated with a potential merger and acquisition.
Anti-Money Laundering Resources
Anti-Money Laundering
A 200-year old bank with branches in several countries was struggling with its fight against money laundering and terror financing by its (potential) clients. The bank simply could not afford its pristine reputation to be damaged by any breaches of the various KYC regulations.
WEBINT can Help Financial Institutions Clarify Sources of Unexplained Wealth
The Wolfsberg Group’s recently published frequently asked questions regarding customers’ source of wealth (SoW) and source of funds (SoF) in private banking highlight growing regulatory scrutiny on this key facet of customer due diligence (CDD).
Webint for taking on safe business in a time of global uncertainty
The web is flooded with information and disinformation, exploited by criminals and fraudsters in order to defy typical KYC and AML screening measures to launder their dirty cash.