US government reports have cited that “the access to the international wire transfer system that correspondent banking provides may be the most important link in the entire money laundering chain.”  The original sender and ultimate beneficiary are often concealed so correspondent banks cannot profile customers they do not know.

SAFE Reports is a wire transfer monitoring system that extracts and builds statistics on every named entity found in any field in any financial message.  Correspondent banks can use it to monitor and investigate all third parties (originators, intermediaries and beneficiaries) to all transactions.  This solution is scalable to single or multi-site and may be applied to both archived and current SWIFT traffic.  SBS will perform an historical analysis of message traffic and create a risk profile for each bank or branch to customize for optimal configuration.

SAFE Reports / Traffic Cop is an Interactive Query and Reporting System for Anti Money Laundering controls.  Use SAFE Reports / Traffic Cop to monitor high risk, investigate unusual activity with an on-screen interactive query and comply with newly heightened regulations.

• The User Defined Groups feature allows for grouping related entities and accounts for easier detection of unusual patterns

• The Historical Report extracts all other parties to a selected entity’s transactions along with amounts, currencies and dates

• Save encrypted report sets of all monitoring and investigation sessions to facilitate compliance with the 120 hour rule of the USA Patriot Act requiring banks to produce requested records on demand to government agencies within 120 hours

SAFE Reports / Traffic Lite provides Historical and Statistical Reports for analyzing SWIFT message traffic.  Through historical data analysis, you can determine monitoring parameters by examination of patterns and set threshold limits to highlight exceptions.

The SAFE Reports solution offers two additional modules as options.  Automated Scheduler will automatically import message and daily currency conversion files as well as generate User Defined Reports on a periodic basis.  Multiple Destinations will generate reports for multiple BICs.