• The Enhanced Compliance Solution (ECS) is a

comprehensive and in-depth monitoring

software system designed specifically to

prevent money laundering and assist financial

institutions in complying with PATRIOT Act

regulations.

• The ECS monitoring system analyzes

transaction activity throughout all modules

using statistical methods in order to identify

fraudulent behavior.

• We will briefly outline the ECS modules which

work collectively to secure and protect account

information

• Customers – Information is secured daily from

the core banking system. ECS uses this

information through related and grouping

methods for protection and monitoring analysis.

• Relationships – Any related parties attached

to an account such as signers, beneficiaries,

trustees and others are jointly analyzed.

• Accounts – All associated accounts are

brought in from the bank’s core processing

system. This information includes account

name, type, status, officer, account risk and

more.

• Cash Activity – The ECS Cash Activity module

captures and analyzes all cash activities

individually to monitor the regulatory amount of

cash deposited and withdrawn including mixed

deposits

• Transaction – All transactions within the

bank’s core processing system are imported

into ECS while secondary processes maintain

additional transaction details for Wires, SWIFT,

Itemized Checks and Cash Activity.

• Alerts - ECS assists in protecting your account from

fraudulent behavior by incorporating statistical analyses

configured through the BSA Compliance group. Alerts are

automated directly to either a specific user or to a group.

• Reports - Reports may be generated to retrieve current

and past activity information. Specific parameters may be

used with pre-defined queries. Results can be stored in

various formats such as PDF, Excel, HTML, CSV.

• FinCEN - The FinCEN 314A bi-weekly search is

embedded within the ECS functionality. All matches which

pertaining to customer information and transaction activity

is made available for review and reporting.

• Wire Analysis – ECS’ Wire Activity

Analyzer examines detailed account

information from wires received from

beneficiaries, originators, countries and

correspondent banks. The Wire Activity

Analyzer discloses wire activity under

various selection criteria.

• Case Management - An integrated Case

Management process enables the grouping

of events, notes and user reviews to

accommodate the filing of any case under

review including Watch Lists, Special

Investigations, Subpoenas, and SARS.

• Ocean System’s ECS secures and supports

information on Know Your Customer (KYC)

and Enhanced Due Diligence (EDD)

• This information is maintained and used in

ECS for thorough monitoring and analysis to

ensure owner safety and security

• Fraudulent behavior like money-laundering

is immediately detected through account

profiling in accordance to KYC and EDD

information.

• The Enhanced Compliance Solution (ECS) is

designed to assist financial institutions in

compliance with the PATRIOT Act. ECS combines

multiple modules like the Know Your Customer and

Enhanced Due Diligence functions to monitor,

protect and secure accounts.

• ECS transactions are monitored using rule based

and statistical based methods to prevent any

fraudulent behavior. Reports and alerts are

available in a variety of formats.

• Ocean Systems has made ECS very configurable

using its workflow technology to fit the specific

requirements of your BSA Policy.

• Ocean Systems provides

specialized, comprehensive and

innovative software solutions to

assist in preventing fraudulent

behavior. Ocean Systems has grown

to be leaders in software compliance

solutions since 1991.

• Ocean Systems shares a common

goal of connecting experience,

creativity and technology to provide

banking and financial solutions in

compliance with corresponding

sections of the US PATRIOT Act.

Visit us online today to learn more:

https://www.oceansys.com.