5 Ways suspicious activity monitoring services can bring staff relief

Here’s what an institution can expect with a Suspicious Activity Monitoring Services agreement and how it brings staff relief:  

1. Experienced financial investigator(s) acting as an extension of the AML/CFT or fraud department: Abrigo’s Advisory Services team assigns a financial crimes professional as project manager for each institution. The project manager will lead seasoned investigators assigned to augment your AML/CFT or fraud staff to fit your unique needs. The investigators have worked with multiple transaction monitoring systems and, in most instances, can get right to work. (In fact, Abrigo works with institutions that do not use BAM+ for their transaction monitoring software.) The goal is for the AML/CFT or fraud investigators to work with the rest of your financial crimes team seamlessly. 
2. Clear details on what an institution can expect from SAMS: Abrigo’s team schedules a kick-off call before the work begins to detail what can be expected and how the financial investigator(s) will work. Because our financial investigators come with in-depth AML/CFT and fraud compliance knowledge, they use this time to learn what systems the institution has in place and how they currently work through alerts, cases, etc. Are there specific templates they need to use, or should they create one? What level of detail do they currently rely on in their alert disposition?
3. Detailed, high-quality work: Our fraud and AML advisory services team prides itself on providing the highest quality of work, whether they are working alerts, reviewing cases, or doing additional customer due diligence. They provide an in-depth analysis of each alert or case and the reason behind their decision to clear it or escalate. As the Abrigo team has had the opportunity to work with many institutions and their regulators, they understand what is needed in analysis and documentation to ensure a seamless examination. 
4. A set of fresh eyes: Abrigo’s financial crimes investigators are new to an institution’s customers or members. They start their analysis without preconceived opinions and perform due diligence with fresh eyes on every aspect of a potentially suspicious transaction. This gives them the ability to look at each alert from a new, unique perspective. Our AML/CFT and fraud professionals provide a second look at an alert or transaction that the institution may have dismissed initially as not suspicious. 
5. Sanity: With confidence in Abrigo’s advisory services team to perform the needed work, AML/CFT and fraud professionals can finally look at that vacation as a time to relax. They do not need to stress about adequate AML staffing when an employee has an unexpected illness or needs to be out for an extended period on maternity or paternity leave. Abrigo’s team of skilled and CAMS-certified investigators is here to take that added stress off the shoulders of AML/CFT and fraud teams. We know they carry enough as it is.