Fighting money laundering in the back office

Organisations are on high alert for signs of money laundering. Alerts raised in the field or by detection systems need to be investigated in a timely manner to satisfy customer service levels or notify authorities. Action needs to be taken quickly, decisively and by agents with the correct skills and authority.

Using Workforce Optimisation solutions specifically designed for complex back office processing teams, organisations can monitor all tasks and process activity performed by investigative staff in real-time, enabling proactive interventions in the fight against money launderers.

The detection systems, processes and policies required to prevent fraud are increasingly supported by the IT vendor community.

There are systems to support customer due diligence and identify suspicious transactions. Case management systems continue to be the focal point for the collating of information and decisions made.

However, the rising operational challenge is how to predict the volume of alerted cases and then allocate them to the right agent with the right skills, availability, authority and capacity needed to make a timely judgment to proceed with transactions or notify the authorities.

Ensuring that agent resources are in step with forecasted and actual demand is exactly where back office workforce optimisation solutions significantly contribute to the operational success in combating illegal transactions.

The eg operational intelligence software suite is currently deployed in multiple organisations, providing:-

  • Planning and forecasting for anticipated volumes of work, resources and skills required to meet regulatory and SLA targets.
  • Monitoring and verifying in real-time the volumes of work, type of case and the actual time required to investigate and complete a transaction.
  • Monitoring in real-time available the total agent capacity, skills and authority to complete investigation irrespective of location.
  • Real-time automatic or manual allocation of work to agents based on the above with real-time management information and audit trails on the entire operational process.
  • Links to existing case management, BPM or document management systems to ensure agents have the right information at hand to review a case.

As well as producing detailed post-activity reports with options for independent review, verification by a third party and for staff to check their own work, providing multiple check points, eg’s software solution can mitigate operational risk and evidence compliance.