Fraud Management & Anti-Money Laundering

Wipro offers solutions to address fraud management and anti-money laundering requirements in Banking, Finance, Securities and Insurance industry verticals. Anti money laundering is regulatory driven and organizations which lack appropriate controls to detect and mitigate money laundering activities risk heavy penalty and loss of reputation.

Wipro's solution offerings

Fraud management: Wipro's solution approach holistically addresses all the lifecycle stages of fraud management such as prevention, detection, deterrence, remediation and investigation. The solution approach considers policy, administrative/operational, technical and audit controls to holistically address fraud management requirements.

The technical solution would focus on detective, preventive and investigation stages of fraud management lifecycle stages leveraging various commercial-off-the-shelf products.

Anti-money laundering: Wipro's Anti money laundering solution approach addresses global and as well as local money laundering regulatory requirements. Anti money laundering solution consists of several components, namely

• Know-Your-Customer (KYC)
• Customer Due Diligence (CDD)
• Enhanced Customer Due Diligence (EDD)
• Watch List Filtering
• Suspicious Activity Reporting (SAR)
• Currency Transaction Reports (CTR)

Service Offerings and approach: Wipro offers advisory, solution implementation and post implementation technical support services. Wipro offers Level 1, Level 2 and Level 3 support services in 8x5 to 24x7 modes leveraging onshore/offshore delivery model in a cost effective manner.

Wipro adopts Commercial off-the-shelf (COTS) based solution approach for implementing fraud management and anti-money laundering solutions.