AML Odoo Module BENEFITS
Prevent money laundering and terrorist financing (AML) in your company with instant notifications on offers for clients at risk.
BENEFITS
· 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 Sanctions designations are added and withdrawn from the Consolidated List on a regular basis.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.
· Have the tools and insights 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.
FUNCTIONALITIES
· Integration between Odoo and EU Consolidated Sanctions List with daily update
· Get instant notification when creating an offer for a client from a country with restrictive measures
· Dedicated section with AML EU Measure available on Odoo Contacts for every company and contact in Odoo
YOU CAN AVOID:
Reputational damage: Getting caught not being AML compliant will hurt your reputation in the eyes of investors, business partners, employees and stakeholders – even your public image.
Becoming instrumental in money laundering: You must also consider the legal and operational consequences of allowing criminals to use your product or service – which means you are helping money laundering.
Hefty compliance fines: AML fines are designed to be prohibitive for financial institutions, which is why AML costs are often measured in hundreds of thousands of euro.
...and many more!