ComplyTech: Actimize

Nice Actimize

Actimize is the industry leader in ComplyTech. It was acquired by NICE, a software company that focused on big data analysis. Actimize brought with it financial industry knowledge, regulatory compliance and customers. Among the top 100 largest banks in the world, more than 25 of them probably use Actimize. Actimize is as close to a full service Compliance Suite as it gets so far. Even still, with its focus on the financial crime side of the department, it is lacking in tools for regulatory compliance. NICE would do very well by creating a joint venture with Thomson Reuters or Bloomberg or some other financial information company and making Actimize the Compliance Department’s sole function tool. (Obviously, it couldn’t compete with the ERP systems for the business management activities, though.)


About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


FinCEN defines dealers/retailers of precious metals, precious stones, jewels or other money substitutes


Dealers and certain retailers engaging in the purchase and sale of precious metals, precious stones, or jewels are financial institutions under FinCEN regulations. FinCEN defines a dealer as “a person engaged within the United States as a business in the purchase and sale of covered goods and who, during the prior calendar or tax year (i) purchased more than $50,000 in covered goods; and (ii) received more than $50,000 gross proceeds from the sale of covered goods.” 11 FinCEN includes in the definition of “dealer” those persons “… engaged within the United States in the business of sales primarily to the public of covered goods… who during the prior calendar or tax year… purchased more than $50,000 in covered goods from persons other than dealers or other retailers (such as members of the general public or foreign sources of supply.”12 The term “covered goods” includes precious metals as listed in 31 CFR § 1027.100(d). Based on your letter, and subject to the monetary threshold and type of supplier considerations explained above, the purchases and sales the Company entered into on its own account would make the Company a dealer in precious metals, and therefore a financial institution subject to FinCEN regulations.

When acting as either a money transmitter or a dealer in precious metals, precious stones, or jewels, the Company must assess the money laundering risk involved in its non-exempt transactions, and implement an anti-money laundering program to mitigate such risk. In addition, the Company must comply with the recordkeeping, reporting, and transaction monitoring requirements under FinCEN regulations. Examples of such requirements include the filing of reports relating to currency in excess of $10,000 received in a trade or business (31 CFR § 1027.330) whenever applicable, general recordkeeping maintenance (31 CFR § 1027.410), and recordkeeping related to the sale of negotiable instruments (31 CFR § 1010.415). Furthermore, to the extent that any of the Company’s transactions constitute a “transmittal of funds” (31 CFR § 1010.100(ddd)) under FinCEN’s regulations, then the Company must also comply with the “Funds Transfer Rule” (31 CFR § 1010.410(e)) and the “Funds Travel Rule” (31 CFR § 1010.410(f)). Additionally, as a money transmitter, the Company must register with FinCEN within 180 days of starting to engage in convertible virtual currency transactions as an exchanger (31 CFR § 1022.380).

Do you agree with this inclusive definition of dealers/retailers as well as precious metals, precious stones, jewels or other money substitutes?

About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


ComplyTech: Tonbeller Compliance Solutions

Tonbeller Compliance Solutions is a competitor to Actimize. It also provides AML/Financial Crimes solutions, but it focuses more of Governance, Risk and Compliance solutions. That is to say, it is a GRC controls tool, primarily.

FICO is a network that Tonbeller is the primary partner of. FICO, Fair Isaac Corporation, is where a consumer’s FICO score comes from.

About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


Money Laundering In London’s Eyes

Money Laundering through real estate in London is in focus. NPR is reporting that about $200 Billion in real estate is owned by offshore corporations. Offshore corporations could be owned by a complex web of owners, ultimately owned by criminals. With foreign money feeding the real estate markets in major global cities like London and New York, law enforcement is bounding to investigate the compliance procedures taken to ensure the prevention of money laundering through real estate in these markets.

Will Standard Charters’ compliance leadership changes make a difference?

About the Author: M. C. Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses. 

ComplyTech: Semagix


Semagix is a technology company that focuses on AML, Financial Crimes, KYC and EDD. The company name is a merger of semantic and magics. Semagix focuses on semantic search of the web with internal systems to build profiles on transactors through a financial institution’s systems. The company bought the AML technology by merging with SearchSpace in 2007.


About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


ComplyTech: Mantas

FROM Bloomberg

Oracle Financial Services Software Introduces Oracle Mantas

Oracle Financial Services Software Introduces Oracle Mantas Energy and Commodity Trading Compliance (ECTC)

Automates Trade Surveillance and Expands Insight Into Trading Activities to Enable Compliance and Operational Risk Managers to Efficiently Monitor the Trading Behaviors of Energy and Commodities Market Participants

SAN FRANCISCO, CA — (Marketwire) — 09/21/10 — ORACLE OPENWORLD — Oracle (NASDAQ: ORCL)

News Facts

— Oracle Financial Services today introduced Oracle Mantas Energy and Commodity Trading Compliance (ECTC).

— Oracle Mantas ECTC provides comprehensive functionality to automate trade surveillance; identify unusual behaviors of interest on trading desks of energy and commodities market participants; effectively manage rigorous trading and market-making surveillance processes; meet stringent regulatory requirements; and achieve an operating environment that protects a firm’s reputation and customers. Compliance-Specific Platform Addresses New Regulatory Requirements

— Over the past several months regulatory agencies like the CFTC, FERC and FSA, have set clearer mandates and dispensed stiff penalties requiring energy market participants to intensify their compliance initiatives.

— In addition, the recent Dodd-Frank Wall Street Reform and Consumer Protection Act brings comprehensive reform to the regulation of over-the-counter derivatives and authorizes the CFTC to undertake further rule making, if required, that could benefit from automated trade monitoring.

— To address this regulatory landscape, Oracle Mantas ECTC offers financial institutions the ability to promote a culture of compliance throughout the organization and monitor proprietary and customer trading activity to:

— Identify potential instances of market manipulation, unfair treatment of customers, and market abuse using sophisticated pattern recognition techniques;

— Gain an enterprise-wide view of compliance risk through structured behavior detection “scenarios” and advanced alert generation tools;

— Increase visibility into trade-by-trade interactions between traders and other market participants to identify potentially problematic practices or inferior order handling;

— Detect complex behaviors that are difficult to monitor using spreadsheets or other manual mechanisms;

— Minimize false alerts;

— Work with imperfect market and/or trade data, such as omitted trade data elements like time stamps;

— Investigate individual alerts and automatically correlate and group related alerts for an enterprise-wide view of compliance risk; and

— Better respond to regulatory inquiry and examination.

— In addition, Oracle Mantas has integrated Oracle Business Intelligence Enterprise Edition (OBIEE) to enable compliance and supervisory users to further explore their trading data for unusual trends, patterns, or other behaviors of interest.

— Oracle Mantas ECTC is part of the Oracle Mantas suite of financial crime and compliance management applications, including Oracle Mantas’ Anti-Money Laundering, Fraud, Know Your Customer, Broker Compliance and Trading Compliance, which helps financial institutions to reduce false positives, achieve quicker time-to-compliance, and improve their audit cycles.

Supporting Quotes

— “Financial institutions and trading firms face increasingly rigorous regulations and compliance initiatives, including those governing energy and commodity trading. As the stakes continue to rise, firms must work quickly and efficiently to implement new measures, technologies and tools to protect their customers and their brand. Oracle Mantas ECTC combines industry-leading automated behavior detection and robust investigative analytics that enable unprecedented visibility into trading activity and compliance and marks a transformation in energy and commodity trade surveillance,” said Bill Nosal, Head of Product Management, Governance Risk & Compliance, Oracle Financial Services Analytical Applications.

Supporting Resources

— Automating Energy and Commodity Trade Surveillance – The Time is Now!
— An Oracle Whitepaper
— Automating Energy and Commodity Trade Surveillance — An Oracle On demand Webcast
— Follow Oracle Financial Services on Twitter
— Join the Oracle Financial Services Community on Facebook
— Oracle in Financial Services

About Oracle Financial Services Software Limited Oracle Financial Services Software Limited (referred to as “Oracle Financial Services Software”) (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation (NASDAQ: ORCL) is the world’s largest business software company. For more information, visit

About Oracle Oracle is the world’s most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit our Web site at

Trademarks Oracle and Java are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.



About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


ComplyTech: Norkom

Norkom is a subsidiary of BAE Systems that focuses on Financial Crimes technology. Though how it was incorporated into BAE Systems is not known to the public, one can assume that it has been paired up with Detica NetReveal transaction surveillance technology. Norkom is used by major banks all over the world, particularly those involved in capital markets.



About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


ComplyTech: LexisNexis for OFAC


OFAC compliance

Businesses are responsible for following OFAC regulations, which were designed to stop terrorist and other illegal funds from circulating. Brighter Insight helps your business comply with global mandates, including OFAC and protects your company against any risks.

Brighter Insight is your OFAC compliance solution

Brighter Insight strengthens compliance by keeping you ahead of ever-evolving global regulations. This solution uses a single interface to rapidly screen companies by leveraging a best-in-class matching algorithm and providing access to the latest global watchlists. Brighter Insight helps companies conduct due diligence and comply with global mandates, such as the Bribery Act of 2010 (UK), FCPA, USA Patriot Act, OFAC, FACTA and the European Union Third Directive, as well as government regulations such as CIP (Customer Identification Program). Brighter Insight helps protect your business and drive global revenue generation.


  • Company Information and Profiles
  • Sanctions, PEPs, and Watch Lists
  • Negative News Check
  • Legal History
  • Biographical Sources

More information

  • Aml implementation
  • Anti bribery and corruption policy
  • Anti bribery and corruption solution
  • Anti bribery implementation
  • Anti bribery tools
  • Anti corruption
  • Anti money laundering implementation
  • Audit reports
  • Audit trail
  • Company audit
  • Money laundering regulations
  • Ofac compliance


About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.


ComplyTech: SAS

SAS® risk software advances regulatory compliance, risk-based decisions

Newest versions enhance high-performance risk management, support new liquidity and credit risk rules

CARY, NC (Nov. 06, 2013) – Banks facing intensifying regulations, including BCBS 239, and market volatility are struggling to speed quantitative risk assessment processes, improve risk data and access critical data on demand. The challenge of making improvements in risk data aggregation capabilities and risk reporting practices was even recently noted by supervisors from the Basel Committee on Banking Supervision who cited the need for more industry progress.

Smart banks are implementing comprehensive enterprise risk management that integrates data management, analytics and visualization. The latest versions of key SAS® risk solutions help banks juggle the varied demands through an integrated risk platform powered by high-performance analytics.

A modern risk management framework harnessing today’s high-performance technologies is more cost-effective and generates quick investment payoffs. “Banks need automated solutions that deliver concise, intuitive and more informative reports based on real-time data,” said Jaroslaw Knapik, Senior Analyst for Financial Services at Ovum. “SAS has made impressive strides, offering banks a competitive advantage with big data technologies. Leveraging a wide array of data sources for risk data aggregation, reporting and decision making, SAS helps reduce report preparation time and analyze data instantly.”


Operational and strategic business decisions demand the most up-to-date and integrated risk management framework for evolving needs including comprehensive aggregation of risk measures across portfolios and geographies. SAS High-Performance Risk can provide this consolidated view of risk through accelerated analytics that use in-memory computation on industry-standard server grids. That means quicker access to accurate calculations of market risk, counterparty exposure, liquidity risk management, credit risk, stress testing and scenario analysis. Enhancements include on-demand risk exploration via an updated graphical interface, continuous data integration fed by the SAS Event Stream Processing Engine, and backup and restoration along with Hadoop integration.

SAS on-demand risk analytics and reporting let business analysts explore and monitor updated risk sources as needed. They can easily navigate and graphically visualize the risk profile and incorporate a wealth of built-in measures they can select and view at any time. Portfolio pricing and valuations can also be performed directly in SAS High-Performance Risk using in-house and/or third-party pricing routines. SAS acts as the risk-aggregation “cockpit” for line-of-business executives and chief risk officers to assess both aggregated exposures – including integrating and consolidating portfolios from in-house risk analytics applications – and individual exposures from trading desks, business units, counterparties or instrument types.

The SAS Event Stream Processing Engine provides the capability to continuously receive data from risk source systems and manage updates through orchestration techniques. Incorporating streaming data into risk analysis helps provide more timely and accurate risk exposure analysis and can alert management to changing risk profiles.


Liquidity risk management, both in terms of regulatory capital management and ongoing, proactive asset liability management (ALM), is increasingly important in banking. Banks are rapidly concluding – especially after seeing the impact of liquidity shortfalls during the economic downturn – that actively managing liquidity risk is a necessity for a sound risk management strategy.

The latest version of SAS Asset and Liability Management, part of SAS Risk Management for Banking, helps banks address new Basel III liquidity regulations and measure exposure and risk across the enterprise. Enhancements include: out-of-the-box support of Basel III liquidity ratios, including LCR and NSFR, and monitoring standards; better business workflows for critical stress testing and liquidity reserves management; and improved cash flow management.

SAS Asset and Liability Management has an advanced analytics environment with interactive reporting to evaluate traditional balance-sheet instruments and dynamically calculate cash flows, funding gaps and net interest income, and analyze funds transfer pricing and profitability.


To battle low confidence in credit markets, it is critical for banks to ramp up credit risk management practices. The new version of SAS Credit Risk Management for Banking addresses the global adoption of the Basel III regulatory guidelines, providing the latest calculations and reporting required to meet regulatory obligations across jurisdictions. With SAS Credit Risk Management for Banking, banks operating in the European Union (EU) – and subject to the European Banking Authority’s capital preservation recommendation in July – can handle risk-weighted assets and regulatory capital calculations, stress testing and reporting based on the EU Capital Requirements Directive IV (CRD IV) including CP50/COREP, large exposure and leverage ratio reports.

“Global regulators demand improved risk data aggregation, liquidity risk management and stress testing so banks and capital market firms can properly measure performance against risk appetite and for regulatory reporting,” said David M. Wallace, Global Financial Services Marketing Manager at SAS. “Leading organizations will answer regulations with interactive, on-demand visualization and analysis of exposures and stresses. These solutions will help firms fully optimize capital rather than just ensuring adequacy and also improve transparency with regulators, customers and markets.”

Read how to make the risk function a more integral element in the business decision process.

Today’s announcement came at the BAI Retail Delivery 2013 conference in Denver.


SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 65,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW® .
Back to Recent SAS Press Releases


About the Author: Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.