AML solutions for NGOs and Charities

FinScan provides a suite of solutions to protect NGOs and Charities from financial crime.

The challenge

The challenge for Non-Government Organizations (NGOs) is to ensure that donor funds are processed within strict timeframes and that donors and intended beneficiaries are bona fide entities. To meet these challenges, NGOs need a solution that detects sanctions violations without overwhelming their compliance teams with unmanageable numbers of false positives. High false positive rates may cause unnecessary delays in funds transfers, leading to an acute liquidity crisis and hampering the financial and operational abilities of the NGO. With FinScan, you can protect your organization in the following areas:

Operational

  • Screen donor and beneficiary transactions in real time, as well as ongoing
  • Prevent an unauthorized diversion of funds to sanctioned entities and countries
  • Reduce the number of false positives in order to drastically decrease the time and resources spent on inaccurate matches
  • Improve your remediation workflow for efficient review and reporting
  • Automate screening processes over time and opt for constant monitoring

Regulatory

  • Comply with increasing regulatory pressure to implement an effective AML sanctions screening program
  • Adopt transparent and explainable matching technology
  • Use standardized compliance reports across your operations
  • Create and manage custom reports
  • Access and export a complete and reliable audit trail
  • Meet the requirements of auditors a regulators

Internal data issues

  • Ensure consistent and structured data feeds from various sources such as donor management systems and beneficiary and volunteer databases
  • Extract relevant risk information from transaction activity across different operations and geographies
  • Fix poor mapping between core systems and AML applications

Compliance data

  • FinScan natively integrates with leading data providers (such as Dow Jones, World-Check and Acuris Risk Intelligence)
  • Optimize screening efficiency against third-party data providers
  • Integrate and manage your own internal lists
  • Use a screening solution that can easily integrate with new/additional lists or datasets

The solutions

For more than two decades, FinScan has worked with many NGOs to ensure that they are in full compliance with the latest AML regulations and the requirements of their donors.

AML screening

Screen against sanctions and watch lists, PEP databases, adverse media, internal lists.

Data prep

Leverage our AML-specific data quality engine to reduce false positives.

Transaction Screening

Automatically detect and stop high-risk transactions in real time.

ID Validation

Detect fraudulent IDs and screen against any watch lists instantly.

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