Points
to be taken care in Finacle to avoid AML/CFT Alerts
·
Any
wrong Deposit/Withdrawal entry made in Finacle should be reversed with the
reversal code REVRS with value date as the date of wrong transaction. If same
is not taken care Finacle will consider Deposit/ Withdrawal as fresh
transaction and if transaction is High value transaction, same will appear in
AML/CFT alert.
·
If
any amount is wrongly credited or debited from customer’s account then full
amount should be reversed instead of partial amount. (i.e. If 10,00,000 is
credited instead of 1,00,000 than full amount of 10,00,000 should be reversed
using REVRS code and then fresh deposit of 1,00,000 should be made. Reversal of
9,00,000 should not be made) If partial reversal if done then it will not
consider it as reversal and High Value Deposit/ Withdrawal will reflect in
AML/CFT alerts.
·
If
any customer wants to credit closure amount of any closed account to his saving
account, same should be entered at the time of closure in Repayment account.
Many offices are in practice of closing account with Repayment account as SOL
ID+ 0340 and after closure they will credit the amount of closure to customer’s
saving account using CTM menu as cash deposit. Such deposits will appear in
AML/CFT alerts as excess cash deposit but actually it is transfer entry of
account closure.
·
For
all Inward and Outward cheques, proper cheque clearing process as per CBS FAQ
should be followed, in no case direct Deposit or Withdrawal should be made from
customer’s saving account against cheque clearing. Such transactions will be
reflected in AML/CFT alerts.
·
Any
customer wish to withdraw amount of more than 50,000 from his Saving Account,
PAN card of customer should be obtained and linked to CIF and Account. If high
value withdrawal is made from customer’s account without PAN Card same will be
appear in AML/CFT alerts.
·
Multiple
Cash Deposit/Withdrawal transactions in any account in single day will come to
AML/CFT alerts.
·
CIF
of customers should be updated with proper KYC documents and with customer
details. CIF IDs with improper details will come to AML/CFT alerts.
·
Any
retirement benefits or Salary should not be deposited to customer’s account in
cash. It should be credited through TTUM file only. If such deposits are made
in cash, same will appear in AML/CFT alerts.