Registration

The registration module will allow your accountable institutions, stakeholders, and regulators to register online with your FIU. This would create a registry of all counterparts nationwide that is verified. Furthermore, the registration module will allow assigning different access rights to different institutions and users. This will create the flexibility to have multiple users registered per institution with hierarchical access rights such as administration, creating draft reports, submitting the reports, receiving and sending messages from/to the FIU. Once registration is approved by the FIC administrators, the user credentials for the stakeholder are created and the user can start interacting in a secure encrypted online manner with the FIU.

Data Collection

The data collection module in FIU360 is based on an XML schema. The XML schema of FIU360 is versatile offering a superset of more than 300 parameters to be collected per transaction reported. This enables the FIU to elect a subset of the parameters to be reported on each transaction. Moreover, the XML schema supports all statuary reporting by the accountable institutions while standardizing the transaction structure enabling analysts to look at all transactions regardless of the report type. Whether, it is a CTR STR, EFT, or any other report type, the analyst can see all the transactions at once. The accountable institutions will have two options to submit the reports to the FIC via the portal. They can either upload XML data files compliant with the XML schema or fill in web forms that are also compliant with the XML schema. Once data is submitted, the data collection services will check for the completeness of the submitted data against the schema and then run a set of business rules to check the content of the reports. The data collection module will generate a pre-configured confirmation letter in PDF format that will be sent to the reporting institution indicating acceptance of the report and requesting any corrections in case of errors.

Sanctions List Matching

FIU360 is equipped with a powerful sanction list matching engine that can screen incoming data against all international sanction lists. You may also choose to perform a selective match against country-specific lists such as the OFAC list and the EU sanctions list. The resulting match against any of the lists will create an alert that once confirmed becomes a new intelligence case in FIU360. The alert will contain the subject details and the source list matched against and any additional information available from the data source to enable analysts to easily confirm the alert or to white list it. A white-listed name will not be matched in the future until it is removed from the white list.

FIU360 Connect

The financial data received from the reporting institutions forms half of the intelligence picture. The other half is comprised of additional information collected from national databases, international counterparts and open data sources. FIU360 data enrichment module enables you to connect to all these data sources to collect data that will add context to the financial transactions to enable your analysts to create meaningful, rich and actionable intelligence that yields results once disseminated to law enforcement agencies.

Subject Data Management

FIC360 has a versatile and user-friendly subject data management modules that allows analysts to search, view and update data on persons, accounts, entities, transactions, phones, address, etc. The search functionality uses state of the art algorithms to find related persons, accounts, entities and transactions. You may think of it as an artificial intelligence analyst working diligently in the background of your FIC to create intelligence links, profiles, associations to save the time of your analyst. Data collation is also automated, so when the analyst opens a person’s file in FIC360, they get to see all information stored in the intelligence database at once.

Structured Analysis

FIU360 provides advanced analytics that enables analysts to slice and dice the data with drag and drop actions. This enables the analysts to perform dimensional interrogation of the data with the ease of a click of a button. The result is generation of intelligence out of large datasets in minutes instead of months. The analyst can focus on a certain subject to generate operational intelligence or focus on a thematic area to generate strategic intelligence. Switching between strategic and operational intelligence analysis is seamless in FIU360.

Data Visualization

Understanding relationships hidden in large datasets is one of the biggest challenges that face all analysts. Explaining those relationships in a concise and clear manner to an external law enforcement officer with a limited intelligence analysis capacity is even more challenging. FIU360 offers one of the most advanced big data visualization tools on the market. The visualization module is fully integrated into the analytics workbench. This enables the analyst to create, in seconds, a visual representation of money and commodity flows, network associations and social relationships. The saying that “a picture speaks louder than a thousand words” applies fully to intelligence analytics. The visualization module in FIU360 allows for exporting snapshots of the created visualization into PowerPoint-slides with annotation. As such, the analyst may choose to attach the PowerPoint-presentation that explains the discovered networks to the narrative intelligence report. This enables the recipient law enforcement agency to easily understand the intelligence hypothesis formed and the associations involved in the suspected cased.

Process Manager

To standardize the processes within the FIC and make them measurable for performance and annual statics purposes, a process management module is required. FIC360 provides out of the box a process designer that allows the system administrator to design a workflow process and attach it to any report type and any case type in the system. So, once a new report is received by the FIC, FIC360 assigns the first step in the workflow process to the responsible staff and starts counting time for completing the steps. This enables standardizing the processing of STR reports, SAR reports, intelligence cases, compliance cases. In addition, it measures the time it takes to complete each task by each staff member. Therefore, it is easy to generate detailed statistics on performance and reporting with a click of a button at any time. It allows also for objectively evaluating the performance of a staff member, a team, a unit or the entire FIC with regard to completing processes on time. It allows also for configuring standard actions that must be performed at any step of the process such as sending email notifications, generating status reports, creating reminders, or even updating the risk classification of a report or a case automatically.

Case Management

To bind and further secure the different intelligence assets and artefacts collected and managed during the intelligence analysis process, a case management system is required. FIU360 provides a flexible case management module that allows for creating different case types with varying levels of security and types of subjects that can be attached to the case files. For example, the system administrator can create an intelligence case type based on a thematic area for corruption related cases which has its own security settings and its own process workflow. Moreover, another case type could be for compliance cases that are only accessible for compliance officers within their own set of settings.

The case management module enables binding all the related objects together in a case binder with a clearly designated case officer and a case classification. The case management module also provides additional security by allowing the case officer to restrict access to a certain case to a few named staff members. This would mean that even though other staff members have access to the case management module, they won’t be able to view the contents of that shielded case file. This is very useful to limit access to sensitive cases either partially or fully.

Document Management

Although FIC360 aims at structuring the data collected, still the FIC will be forced to collect none structured data in the form of scanned documents, Word files, Excel sheets and PowerPoint presentation. FIC360 provides an integrated document management system that enables attaching documents into the intelligence database and extracts all the text of the attached documents for text searching purposes. The document management system also meta-tags the data to enhance the search functionality. In addition, it allows for versioning the office documents attached whenever a staff member edits a document.

Statistics

Statistical analysis is key to any FIU work, and it is part of the FATF recommendations. Whether you want to produce statistics for your annual report, a chart for account balance fluctuations for operational intelligence purposes, or a summary chart of phone log analysis, FIU360 enables you to produce all of these statistics with a click of a button.

Dissemination & Feedback

The final product of the FIU is an intelligence package disseminated to law enforcement or a counterpart FIU. The dissemination module of FIU360 allows the analysts to create an intelligence package consisting of the intelligence narrative report, diagrams, charts, subjects’ profiles and relevant attachments. The package is encrypted and transmitted via the web portal to the intended recipient(s). Each recipient gets an email notification to download the package, which is deleted after download. Also, the system keeps track of feedback on the quality of the package disseminated, whether it is used in an active investigation and whether the investigation results in a conviction.

BI Dashboards & Reporting Services

Managing a medium to large FIU is a demanding job that requires decision support systems that monitor the organisation's performance. FIU360 has complete Business Intelligence Dashboards and reporting services that put all the information on everything happening within the FIU at managers' fingertips. Key Performance Indicators tailored to your needs are a matter of drag and drop to add to your personalized BI Dashboard with drill-down information that supports you in getting peak performance today and every day. Push reports that are tailored to your needs are delivered to your inbox on schedule. You enter your office on a Monday morning, and you have a detailed report waiting for you to go through. Whether it is compliance reporting, performance reporting, or just an overview of your team's case workload and the status of cases ordered by priority, it is all there for you.

Security

FIU360 provides comprehensive security for the data and the users of the system. The access authorization to all system features is role-based, which enables creating very granular access authorization levels to each feature and screen in every module. FIU360 also has a detailed auditing and logging for every user action from login to logout. The data manipulation is audited and versioned which enables viewing who viewed the data and each change to the data is logged with a previous image, current image, the user that effected the change, the date and time the change happened and the machine from which the change occurred.

Also, key information in FIU360 databases is encrypted. This allows the IT system administrators to maintain the system without having access to the data.