The European Union has recently introduced new regulations aimed at preventing the misuse of the financial system for money laundering and terrorist financing (Read More). A crucial part of these updates focuses on identifying Ultimate Beneficial Owners (UBOs) and entities requiring thorough investigations.
In collaboration with a key legal sector client, we’ve successfully implemented the necessary business logic to swiftly identify beneficiaries and entities. It’s fascinating to observe how this new logic, applied to existing legal, control, and ownership structures, will significantly increase the scope of investigations, progressively closing existing loopholes.
Our solution leverages advanced graph technology, crucial for mapping relationships between entities and individuals. Using the new ISO standard GQL (Graph Query Language) (ISO Standard), we efficiently trace control chains and compound control percentages.
To enable user interaction with the underlying database, our platform offers more than just data visualization. Users can add information, annotate, and attach documents through a smart, intuitive application interface.
This comprehensive solution was developed using the Graphileon platform, a unique graph-based low-code application development environment. Key features include:
- Detailed visualizations of UBOs and entities requiring Suspicious Activity Reports (SARs) under current and future regulations
- Capability to add supporting documents
- Node annotation functionality
- Diagram exports to PDF
- A sandbox for modeling alternative entity structures
- A timeline feature to navigate relationships over time
- Links to international sanctions lists
The Graphileon configuration for this project includes 69 functions (mainly queries) and 184 triggers, all standard, showcasing the platform’s powerful capabilities.
Cloud (Beta)