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Financial crime & AML

Boost your second line of defense. Know your regulatory obligations and compliance status in an instant, and gain an audit trail that records risk-based decision rationale.

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Boost your second line of defense with CUBE to help detect and prevent financial crime.

Motivation to combat fraudsters and money launderers is higher than ever before. Monetary losses to financial crime are estimated at approximately $1.6 trillion globally, equivalent to the 12th largest country in the world by GDP. And according to specialist financial crime advisory firm Lysis, seizure rates are as low as 1%, meaning that the vast majority of financial crime goes undetected.

Financial institutions are rarely out of the spotlight for anti-money laundering (AML) control failures. More than $26 billion in fines has been levied in the last ten years, with 2019 hitting record heights. Many are turning to Regulatory Technology (RegTech) to transform horizon scanning and regulatory change management processes in order to ensure that policies and controls adequately safeguard their business.

Know your regulatory obligations and be alerted when regulatory change occurs, across all jurisdictions. Know your compliance status in an instant and gain an audit trail that records risk-based decision rationale.

Master regulatory intelligence and change to combat financial crime with CUBE

To effectively monitor and implement regulatory change to support financial crime and AML you need to:

  • Have complete visibility of all regulations relevant to financial crime, enterprise-wide
  • Ensure that senior management and the board have full awareness of the regulatory obligations they must comply with, and understand the consequences of non-compliance
  • Quickly align regulatory intelligence with business taxonomies to ensure that compliant policies and controls are in place, and are applied quickly and consistently across the enterprise
  • Ensure that you classify every client’s risk appetite accurately, in accordance with regulation, and maintain a defensible audit trail that fully-evidences compliance actions and decision rationale
  • Understand individual responsibilities in combating financial crime, and ensure top-down implementation of a compliance culture

With CUBE Digital Regulation Platform (DRP), you know which regulations are relevant to your business, you gain rapid insights into your compliance status, you have time to create and apply effective policies and controls, and you are able to monitor your compliance status in near-real-time.

CUBE DRP captures all global financial services regulation, enriches regulatory content and then maps it to individual policies and controls, providing you with deep insight into the impact of regulatory change across all lines of business and jurisdictions you operate in.

Key features

  • The world’s richest single source of global financial services regulatory intelligence
  • A robust end-to-end platform that addresses regulatory change across the enterprise, including financial crime, AML, cybersecurity, technology risk, information assets, and more
  • Continuous horizon scanning to quickly identify new, updated and upcoming regulation
  • Intelligent, automated controls map all relevant regulations onto a CUBE-developed best practice AML taxonomy, or your own financial crime taxonomy
  • Automated regulatory gap analysis pinpoints the impact of regulatory change on your policies and controls, in near-real time
  • Fully-integrated with pre-existing internal infrastructure and third-party systems, including GRC and AML platforms
  • Deep insight into the compliance status of all financial crime policies and controls, across your organization
  • Consistent application of the right compliant action, at the right time

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