Zero corporate tax and stringent secrecy and confidentiality laws make Cayman Islands prone to financial crimes of money laundering and tax evasion. AML measures enforced by regulatory body requires all the financial institutions to report on the country of domicile of counterparties of all the cashflow transactions in and out of Cayman. Tracking the end beneficiary or recipient of the money is the challenge as information is scattered across multiple disparate sources of payment information.
Source data from Payment Origination systems, Payment messages, Clearing and Settlement systems and clean, aggregate and standardize the data.
Identify patterns that could lead us to the counterparty involved in a cashflow transaction. This involved parsing through all the associated data received from mentioned data sources and reconcile it basis reason of cashflow (FX, Loan and other cash prods) and other such variables
Once the counterparties were identified data was aggregated at the country of domicile level and presented in the form of a visual dashboard. Dashboard allows for comparison from previous results across many variables such as product type, debit versus credit and highlight any significant deviations. Once the results are validated summary report is then submitted to the regulator
Leveraging advanced AI to enhance industries and boost efficiency, we strive to create smarter, sustainable communities. Our mission is to foster meaningful change and eco-friendly practices for a thriving future through innovation and collaboration.