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Validating Quality of EFM & AML Solutions

Yethi assures reliability of the Fraud Management & Money Laundering solutions for a bank in India

The Client

An international subsidiaries of India’s leading multinational private bank, offering a wide range of financial solutions for personal, corporate, investment, commercial, treasury, and trade requirements.

The Challenge

With the evolving nature of fraud and money laundering, the bank wanted to ensure the quality of their
Enterprise Fraud Management (EMF) and Anti Money Laundering (AML) solutions with end-to-end testing
across all key processes and scenarios.

The Solution

Yethi formulated a comprehensive test coverage plan, prepared test designs and executed the integrated test designs using Tenjin – Yethi’s robotic test engine, in order to verify the expected behaviour. The reports with high financial impact for the bank were evaluated, that included

  • STR – Suspicious Transaction Report
  • NTR – NPO (Non-Profit Organization) Sector Transaction Report
  • CTR – Cash Transaction Report
  • SLR – Statutory Liquidity Ratio
The Approach

Yethi designed relevant test data covering scenarios with investigation and suspicious money laundering transactions triggering from the integrated Core Banking System having touch points with the AML interface system.Post that, the statutory reports were tested accordingly

The following processes were evaluated.

  • Customer risk categorization
  • Watch List Screening
  • Transaction Monitoring
  • Case Management System
  • INBOX
  • Investigation Tools
  • Regulatory Reports

And following were evaluated as key scenarios

  • High cash-activity, inconsistent with profile
    • Sudden increase in number of monthly transaction bycustomers
      • High-value cash transactions inconsistent with profile
        • Sudden increase in value of transactions in a month for the client
          • High number of cheque leaves Issued
            • High-value cash transactions related to real estate
              • Transaction involving a high-risk country
                • High-value transactions with tax havens
                  • High activity in new account
                    • Numerous low-cash deposits
                      • Sudden activity in a dormant account
                        • Frequent cash deposit just below 10 lacs
                          • High-value transactions by high-risk customers
                            • Splitting of cash deposit just below 50,000 INR
                              • Inward remittance inconsistent with customer profile
                                • Numerous low cash withdrawals
                                  • Inward remittance in a new account
                                    • Repeated small cash deposits followed by immediate ATM withdrawals in different locations
                                      The Result

                                      The Yethi team validated the quality of the bank’s EFM and AML solutions while submitting detailed dashboards periodically on the progress with the potential risk areas & recommendations, to various stakeholders.

                                      Yethi was able to execute all activities efficiently owing to subject matter expertise, a library built of 100,000 domain-specific test cases and a robotic test-automation platform to run through Business Rule Engine,
                                      providing accurate results.

                                      About Yethi

                                      Yethi is a software solutions company focussed on helping its customers to gain business advantage by improving the speed and agility with which they can validate and adopt changes to their core technology platforms. Founded by seasoned senior fin-tech professionals, who bring decades of domain expertise, Yethi has developed a unique test automation tool “Tenjin” to meet the needs of teams using packaged software solutions.

                                      To find out how Tenjin can help your business achieve faster results and better software responsiveness, reach out to us at info@yethi.in

                                      About Tenjin

                                      Tenjin is Yethi’s scriptless test automation platform, a plug-and-play banking aware solution, with distinctive
                                      features like robotic capabilities to learn the application and re-learn after any updates, so regardless the
                                      complexity and number of updates, the test execution remains high-speed, minimizing manual effort.

                                      To know more about how we can help you mitigate business risks associated with technology-enabled operations, reach out to us at info@yethi.in.