Wealth Management

Asset or Wealth Management companies are financial institutions specialized in managing funds for individuals and companies.

They take the responsibilities of making investment decisions in the best interest of the customers.  Due to the very nature of their business, they do not offer the same all-round product line as commercial banks do. Yet, they are highly exposed to money laundering as their clientele often consists of wealthy and high-profile political and/or economic figures.

AML/CTF


Products and services offered by Wealth or Asset Management Companies could be very attractive for criminals to launder illicit funds, while even genuine customers pose a higher risk due to their profile. As a result of the high-risk that both products and customers pose, these Companies have been receiving a lot of attention from various regulatory agencies. Therefore, they must have a robust AML/CTF program that includes a software solution to tackle challenges of

  • Transaction Monitoring 
  • Customer Due Diligence
  • and Screening.
Consortix can offer a state-of-the-art solution to address those challenges.

Fraud

Asset and Wealth Management companies preside over a significant value that has been entrusted to them by high-profile customers. A fraudulent incident against the customers can immediately damage the very fragile customer relationship founded on trust, and the consequences can be catastrophic.

Our Fraud Monitoring solution can spot irregular or unusual activities (both financial and non-financial) on customer accounts that might be an indication of fraud.