goAML XML Schema Converter
Excel to XML Converter to goAML Schema
Save Time, energy and resources with our fully compliant Excel to XML (goAML Schema) Converter, this tool provides you with a simple and efficient procedure to export all the relevant data required in line with the FIAU goAML XML schema
Globally there is an ongoing effort to fight money laundering and terrorist financing, internationally the relevant Financial Intelligence Analysis Unit’s (FIAU) are introducing goAML as part of their effort to modernise the approach to providing insightful intelligence to the respective authorities. I Malta the FIAU has granted all reporting entities an extension to the deadline for the XML integration with goAML until the 22nd August 2020. Whilst previously all submissions were typically referred to as STRs, the FIAU will now be differentiating between the following:
Suspicious transaction report would refer to an instance where a subject person can identify a transaction that would be classified as suspicious.
Suspicious activity report would be submitted when a subject person identifies a trend of activities that might not in themselves be considered reportable, but in a whole generate suspicion.
Terrorism financing reports would be submitted when there is a clear
suspicion of terrorist financing.
Politically exposed person report should be submitted when there is suspicion of politically exposed persons involved.
Request for information- whereas the FIAU can request all personal and transactional information an organisation may hold on a particular individual
To cater for these particular requirements, ComplyRadar has developed a goAML solution which can be delivered as a standalone tool or fully integrated into our Case Management module.
The standalone version includes an easy-to-use Excel template, once populated by the client with all the relevant transaction information, the data can then be exported in line with the FIAU XML schema. The integrated version would on the other hand be populated from data coming through the ComplyRadar Case Management module.
This tool will not only save you time and resources but allow you to assign resources to focus on the more critical elements of your business.
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Let us provide you with a product demo on simulated data to ensure you see the solution in action relative to your business requirements.