Cygnus Scan is an advanced Anti-Money Laundering (AML) screening and monitoring solution developed by Crowe UAE as part of their Cygnus GRC ecosystem. Tailored to meet the stringent requirements of international and UAE-specific AML regulations, it serves as a robust compliance tool for regulated industries such as fintech, insurance, real estate, legal services, and Designated Non-Financial Businesses and Professions (DNFBPs).
Key Features of Cygnus Scan Sanction
Screening: Real-time matching against global sanctions, watchlists, Politically Exposed Persons (PEP), and adverse media to ensure comprehensive compliance.
Risk Scoring: Continuous assessment of financial crime risks associated with customers and suppliers using advanced algorithms and risk parameters. Audit Trail: Robust audit capabilities providing complete transparency and traceability of all activities, logs, and actions to support regulatory compliance. Expiry Alerts: Automated notifications for expiring identification documents to maintain operational continuity and compliance.
Transaction Monitoring: Real-time detection and blocking of high-risk transactions, ensuring immediate response to suspicious activities.
Ultimate Beneficial Owner (UBO) Tracing: Automatic identification and screening of UBOs to enhance transparency in corporate relationships. Alert Management: Efficient handling and resolution of alerts generated during the screening and monitoring processes.
Technical Highlights
Integration with Dow Jones Database: Provides comprehensive watchlist coverage for effective screening. Advanced Image Reading (OCR): Enhances data capture accuracy through Optical Character Recognition capabilities. AI/ML-Based Algorithms: Employs artificial intelligence and machine learning for sanction screening and negative media searches. Cloud Hosting via Microsoft Azure: Ensures secure and scalable deployment within the UAE. Multi-Platform Accessibility: Available through web portals and mobile applications (iOS & Android) for user convenience. Deployment Options Software as a Service (SaaS): Cloud-based solution for ease of access and scalability. On-Premises: For organizations requiring in-house hosting due to compliance or security policies. Hybrid Models: Combines both cloud and on-premises solutions to meet specific organizational needs. Cygnus Scan is designed to empower organizations in the UAE and globally to navigate the complexities of AML compliance effectively. By integrating advanced technologies and aligning with regulatory standards, it serves as a critical tool in safeguarding business integrity and mitigating financial crime risks.
For more information, please visit https://www.crowe.com/ae/services/technology/cygnus-scan or to request a demo, please visit https://www.crowe.com/ae/services/technology/cygnus-scan/request-a-demo
