Automated system of financial monitoring «FinMonitor» (FM) Automated system of financial monitoring is meant for collecting, analyzing and storing of information about financial transactions which are subjects to the compulsory internal financial monitoring. The system is developed taking into consideration banks requirements which according to Law of Ukraine “On resistance to laundering (legalization) of income received in a criminal way” of 28.11.2002 ¹249-IV are subjects of a primary financial monitoring. This system allows banks to automate the work of profiled staff taking measures on the resistance to legalization (laundering) of income received in a criminal way. The aim of the system is to provide users with an instrument for researching of an updated bank database, information about clients and other information to control transactions which are subjects to the compulsory financial monitoring, suspicious transactions in terms of rules of internal financial monitoring, disclosure of clients with suspicious behavior and with the following research of their activity. To realize functions of compulsory financial monitoring, the system uses a separate module that provides for creation of data exchange files for coding and delivery to the State Financial Monitoring Commission, as well as logging of finished transactions.

Main functions of the System are:

• Retrieving of information referred to the financial monitoring from accounting bank systems;
• Analytical processing of information concerning:
  • client identification;
  • compulsory financial monitoring;
  • internal monitoring (availability of scoring mechanism);
• data transfer:
  • coding and transaction logging;
  • interface of interaction with the State Financial Monitoring Commission.

Advantages of the system:

• autonomous work regarding BAS;
• work with different data sources;
• remote logging of unfinished transactions;
• information collection from additional sources (98 NBU file, form 531, reference books of the State Financial Monitoring Commission and NBU) for full representation;
• Cyrillic font support;
• System scalability, work with distant affiliates;
• A single centralized non-replicated database in the head office;
• Built-in analytical toolkit;
• Mathematic and logical control over input data;
• Graphical information;
• Security (system access denial for users unrelated to the SFM;
• Compulsory and internal financial monitoring with the high capacity of client identification.