Anti-Money Laundering (AML) compliance is a critical function for financial institutions, ensuring suspicious activities are detected and reported in accordance with regulatory requirements. In Israel, compliance teams follow the guidelines of the Anti-Money Laundering and Terror Financing Prohibition Authority (RASHLA) when submitting Suspicious Activity Reports (SARs).
With SAS AML, financial institutions can streamline the SAR submission process, saving valuable time and improving accuracy. Additionally, the MINAGO team has designed a configurable application that extends SAS AML’s capabilities, allowing organizations to easily add any type of regulatory report to the system—ensuring full compliance with evolving regulations.
Effortless SAR Generation with SAS AML & MINAGO
Traditional SAR preparation is a manual and time-consuming process, requiring AML analysts to gather data from multiple sources, verify its accuracy, and structure the report according to regulatory guidelines. SAS AML, enhanced by MINAGO’s configurable solution, automates and simplifies this process by:
✅ Identifying Suspicious Activity – The system flags high-risk transactions and behaviors, allowing analysts to investigate efficiently.
✅ Automating Case Creation – Alerts are seamlessly converted into cases, with all relevant data pulled in automatically.
✅ Prepopulating the SAR Form – The system intelligently extracts data from sources like customer records, transaction monitoring alerts, and external inputs, ensuring completeness.
✅ Guiding Analysts Through the Process – A structured case workflow ensures all steps, from investigation to documentation, are followed properly.
✅ Validating Data Completeness – Before submission, the system checks for missing or inconsistent data and visually highlights areas that need attention.
✅ Configurable SAR & Other Regulatory Reports – The MINAGO team has developed an adaptive solution that enables institutions to easily integrate and configure any regulatory report required by local or global authorities.
✅ Seamless Report Submission – The system generates a fully formatted Word file, ready for managerial review and submission to the authorities.
Saving Time & Enhancing Compliance
By automating data collection, validation, and report structuring, SAS AML—enhanced by MINAGO’s configurable application—reduces manual effort, minimizes errors, and enhances regulatory compliance. AML teams can focus on analyzing risks rather than compiling reports, ultimately improving their ability to detect and prevent financial crime.
With SAS AML and MINAGO’s configurable solution, submitting regulatory reports has never been easier, faster, or more accurate.
🚀 Ready to enhance your AML compliance process? Contact us to learn more about how SAS AML & MINAGO can help your organization streamline SAR submission and strengthen financial crime prevention.
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