essDOCS solution addresses TBML concerns

Solutions provider essDOCS has launched its CargoDocs Automated Document Processing (ADP) solution that claims to address key trade-based money laundering (TBML) concerns.

CargoDocs ADP is a secure, web-based platform that digitises the creation and approval as well as the exchange of electronic original documents, while also enabling users to apply for, sign, stamp and receive back original certificates required for global trade.

TBML checks

The solution utilises optical character recognition capabilities to extract critical data, in turn combining natural language processing and supervised artificial intelligence to structure data.

This enables automated document, data-checking and validation plus critical compliance and TBML checks.

Suspicious deviations

According to essDOCS it is possible for the technology to go further than enabling regular compliance checking, crucially addressing key TBML concerns and spotting suspicious deviations.

The ADP solution is equipped with an interactive business intelligence dashboard on which users can drill down on flagged data, while alerts can be set based on tailored criteria per bank or even per user.



Categories: Trade Based Financial crimes News