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Anti Money Laundering EU

by
Odoo

$ 33.90

v 15.0 Third Party
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Lines of code 731
Technical Name sostenia_aml_eu
LicenseOPL-1
Websitehttps://www.sostenia.ro/
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Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies • Contacts (contacts)
• Discuss (mail)
• Invoicing (account)
Community Apps Dependencies
Lines of code 731
Technical Name sostenia_aml_eu
LicenseOPL-1
Websitehttps://www.sostenia.ro/

 

Prevent money laundering and terrorist financing (AML) in your company with instant notifications on offers for clients at risk.

  • In a Sale Order you can see a warning if you select a partner for which the EU has sanctions.
  • You can then navigate in the partner's form and see the AML EU Measures information (AML EU Measures tab).

Why choose Sostenia?

  • Work with an award-winning Odoo partner
  • We offer advanced support with a team of senior consultants
  • Benefit of regular updates and improvements

  • BENEFITS
  • FEATURES
  • SCREENSHOTS


Ensure AML compliance without adding too much friction for your customers and operational burden for your employees

Instantly know whether the names of your customers or business partners appear on the EU Consolidated Sanctions List

Have real-time information with sanctions screening updated daily with the latest Consolidated List. Sanctions designations are added and withdrawn from the Consolidated List on a regular basis.

Cut down on resources devoted to compliance, as well as lowering the chance of reputational damage and fines incurred through non-compliance

Protect your business with a cost-effective solution

Have the insights you need to identify and act against threats faster and more accurately

Reduce manual efforts, strengthen controls, and heighten compliance, resulting in higher productivity and reduced costs

YOU CAN AVOID:

  • Reputational damage: Failing to comply with AML regulations can severely damage your reputation with investors, business partners, employees, stakeholders, and even affect your public image.
  • Facilitating money laundering: You also need to be aware of the legal and operational repercussions of enabling criminals to misuse your product or service, effectively making you complicit in money laundering.
  • Significant compliance fines: AML penalties are intended to be highly punitive for financial institutions, which is why AML compliance costs can often reach hundreds of thousands of euros.

AML MODULE FEATURES

Fully integrated with Odoo Apps


Get instant notification when creating an offer for a client from a country with restrictive measures


Daily updates from the official EU Consolidated Sanctions List


Dedicated section with AML EU Measure available on Odoo Contacts for every company and contact in Odoo



AML Notifications MENU

  • Menu AML Instances - where you can create and configure the AML information source
  • Menu AML Countries - Odoo countries
  • Menu AML EU Measures - List of EU Sanctions
  • Menu AML EU Countries - List of countries with EU Sanctions information

This module adds several fields: 

  • the AML EU Measures on Partners
  • the AML Measures on Countries

This module adds Scheduled Action: Sostenia AML Sanctions Download

By default it will run once a day to download the latest sanctions from the EU website https://www.sanctionsmap.eu/.

AML MODULE TUTORIAL


AML NOTIFICATION POP-UP 

The pop-up appears when you create a quotation to a company/contact from a country under AML measures.

AML NOTIFICATION 

The notification is visible on the quotation window.

ON ”AML EU MEASURES” VISIBLE ON A COMPANY'S PROFILE IN CONTACTS, 
YOU CAN CHECK OUT THE AML MEASURES


THE LIST OF AML EU MEASURES

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Începeți cu clientul – aflați ce vor și oferiți-le.

Odoo Proprietary License v1.0

This software and associated files (the "Software") may only be used (executed,
modified, executed after modifications) if you have purchased a valid license
from the authors, typically via Odoo Apps, or if you have received a written
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by
Ralph Warnke
on 12/15/24, 10:30 AM

Thank you for your quick response. This son‘s really good. Can you foresee when you will have this available for Odoo 16?

Re:
by
Andrei Dobrescu
on 12/16/24, 1:38 AM Author

Hello,

I estimate we will have it by the end of January, but we'll try to get it our in the first two weeks of 2025. 

We prioritize implementation projects during this time of the year; there are a lot of projects with Go Live on the 1st of January.

Regards,

Andrei

Looks like a very helpful tool!
by
Ralph Warnke
on 12/13/24, 5:13 AM

This looks very promising. Does it also allow to check on companies and individuals to see if they are on the watch list? This would be quite crucial for living up to the promise of preventing violations in regards to conducting business with potential terrorists or their associates.

Re: Looks like a very helpful tool!
by
Andrei Dobrescu
on 12/15/24, 8:54 AM Author

Hello, Ralph!

Thanks for the comment!

We are in the process of integrating with the US database also, which is much more an detailed and also contains individuals.

We're expecting to have it up in a couple of months, as an extension or standalone module.


Regards,

Andrei