Real-World Use Cases

OmniEagle is designed to address real-world Anti-Money Laundering (AML) compliance challenges faced by financial institutions operating in the digital asset space. This section explores practical use cases, demonstrating how OmniEagle’s features translate into tangible benefits for your organization, ensuring compliance, mitigating risks, and streamlining operations.

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Use Case 1: Risk-Based Customer Profiling and Onboarding

Challenge: Efficiently onboarding new customers while accurately assessing their risk profiles to comply with KYC/AML regulations.

Solution: OmniEagle automates the customer onboarding process, integrating with KYC/AML data providers to verify identities and perform background checks. It dynamically assigns risk scores based on factors such as:

• Geography: Customers from high-risk jurisdictions are automatically flagged for enhanced due diligence.

• Industry: Customers operating in high-risk industries are subject to increased scrutiny.

• Transactional Behavior: Unusual transaction patterns trigger alerts for further investigation.

• PEP Status: Automated screening against Politically Exposed Persons (PEP) lists.

• Sanctions Lists: Verification against global and local sanctions lists.

Example: A new corporate client from a high-risk jurisdiction attempts to open an account. OmniEagle automatically flags the client for Enhanced Due Diligence (EDD) based on their location. The system triggers a request for additional documentation and initiates a deeper background check, including adverse media screening. The compliance team receives an alert and reviews the case, ensuring compliance with internal policies and regulatory requirements.

Benefit: Automated risk-based customer profiling reduces manual workload, ensures consistent application of KYC/AML procedures, and minimizes the risk of onboarding high-risk customers.

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Use Case 2: Real-Time Transaction Monitoring and Alerting

Challenge: Detecting and responding to suspicious transactions in real-time to prevent money laundering and other financial crimes.

Solution: OmniEagle continuously monitors all transactions, applying a combination of rule-based and AI-driven algorithms to identify suspicious patterns and anomalies.

• Rule-Based System: Pre-defined rules flag transactions that exceed certain thresholds, involve high-risk jurisdictions, or exhibit patterns commonly associated with money laundering (e.g., structuring, smurfing).

• AI-Driven Anomaly Detection: Machine learning algorithms identify unusual transaction patterns that may not be captured by traditional rules, adapting to evolving criminal tactics.

• Real-Time Alerts: The system generates real-time alerts for suspicious transactions, enabling immediate investigation and intervention.

Example: A customer suddenly starts making a series of high-frequency, small-value deposits designed to avoid reporting thresholds (structuring/smurfing). OmniEagle’s AI-driven anomaly detection system flags this unusual activity, triggering an alert for the compliance team. The team reviews the transactions, investigates the customer’s profile, and files a Suspicious Activity Report (SAR) if necessary.

Benefit: Proactive identification of suspicious activity, reduced risk of financial crime, and timely intervention to prevent losses.

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Use Case 3: Automated Sanctions and PEP Screening

Challenge: Ensuring compliance with global sanctions and regulations by identifying and preventing transactions involving sanctioned individuals or entities.

Solution: OmniEagle integrates with leading sanctions and PEP databases, automatically screening all customers and transactions against these lists.

• Comprehensive Screening: Verification against global and local sanctions lists, Politically Exposed Persons (PEPs) lists, and other watchlists.

• Real-Time Updates: Continuous updates to ensure compliance with the latest sanctions and regulations.

• Automated Blocking: Transactions involving sanctioned individuals or entities are automatically blocked, preventing non-compliance.

Example: A corporate client with ties to a sanctioned individual is flagged by the system during the onboarding process. OmniEagle automatically initiates enhanced due diligence, including a review of the client’s ownership structure and business activities.

Benefit: Ensures compliance with global sanctions and regulations, minimizes the risk of fines and reputational damage.

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Use Case 4: Streamlined SAR Reporting

Challenge: Manual generation of Suspicious Activity Reports (SARs) is time-consuming and prone to errors.

Solution: OmniEagle automates the creation of SARs, populating them with relevant transaction and customer data.

• Automated SAR Generation: When suspicious activity is detected, the system automatically generates a SAR with all necessary details.

• Workflow Management: Built-in workflows for review, approval, and submission of SARs to the Financial Intelligence Unit (FIU).

• Secure Storage: SARs and supporting documentation are securely stored for audit purposes.

Example: An unusual increase in wire transfers from a newly opened account triggers an alert. The compliance team investigates and determines that the activity is suspicious. OmniEagle automatically generates a SAR, including all relevant details, and submits it to the FIU.

Benefit: Reduces the time and effort required to generate and submit SARs, ensures compliance with reporting obligations, and facilitates timely reporting of suspicious activity.

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Use Case 5: Adverse Media Screening

Challenge: Identifying customers or entities linked to financial crimes or reputational risks through news monitoring.

Solution: OmniEagle integrates with global news sources to monitor for negative news about customers or entities linked to them.

• Automated Monitoring: Continuously scans news articles and other sources for adverse information.

• Alerting: Generates alerts when negative news is detected, allowing for timely re-evaluation of customer risk profiles.

Example: An alert is triggered when a client is linked to a corruption case in a news article. The compliance team reviews the information and re-evaluates the client’s risk profile.

Benefit: Proactive identification of potential risks, enhanced due diligence, and protection of the institution’s reputation.

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Use Case 6: Beneficial Ownership Analysis

Challenge: Identifying the ultimate beneficial owners (UBOs) of corporate customers can be complex and time-consuming.

Solution: OmniEagle analyzes ownership structures to uncover true beneficial owners and screens them against sanctions and PEP lists.

• Automated Analysis: The system automatically analyzes ownership data to identify UBOs.

• Screening: UBOs are screened against sanctions, PEPs, and adverse media lists.

Example: An investigation of a shell company reveals connections to a sanctioned entity, enabling appropriate action to be taken.

Benefit: Enhanced due diligence, compliance with AML regulations, and prevention of financial crime.

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Use Case 7: Internal Compliance and Whistleblowing

Challenge: Ensuring internal compliance with AML policies and providing a secure channel for reporting violations.

Solution: OmniEagle provides secure tools for employees to report AML violations anonymously and ensures staff adheres to AML training and internal policies.

• Anonymous Reporting: A secure whistleblowing channel allows employees to report suspected violations without fear of reprisal.
• Training and Policy Management: The platform facilitates the delivery of AML training and ensures that employees are aware of and adhere to internal policies.

Example: A team member reports suspicious approvals for high-risk transactions through the whistleblowing channel, leading to an internal investigation and corrective action.

Benefit: Fosters a culture of compliance, encourages ethical behavior, and helps to prevent and detect internal fraud.

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Use Case 8: Ongoing Monitoring and Periodic Reviews

Challenge: Maintaining accurate risk assessments and ensuring ongoing compliance with evolving regulations.

Solution: OmniEagle continuously monitors customer activities and updates risk profiles based on new data, ensuring that assessments remain accurate.

• Continuous Monitoring: Real-time monitoring of customer activity and automated alerts for suspicious behavior.

• Dynamic Risk Updates: Risk profiles are automatically updated based on new data and changes in customer behavior.

• Periodic Reviews: The platform facilitates regular reviews of customer risk profiles and transaction patterns.

Example: A previously low-risk customer exhibiting unusual deposit patterns is flagged for additional scrutiny, leading to a re-evaluation of their risk profile.

Benefit: Ensures ongoing compliance with AML regulations, adapts to changing risk landscapes, and maintains accurate risk assessments.

Next Steps:

• Explore the key features of the OmniEagle platform in detail in the next section.
• Contact our sales team to schedule a demo and discuss your specific AML compliance needs.