BitWords Inc

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TRANSACTION MONITORING

AI-driven comprehensive AML tool. Configurable tool to translate company AML policy into implementation

SANCTION
SCREENING

1,700 global sanctions lists, PEP, Adverse Media, Real-time API, reduced false positives

RISK BASED
APPROACH

A comprehensive risk assessment framework, highly configurable, along a factor-based approach

MONEY SERVICE
SOFTWARE

AML compliance-driven system for money service (MSB) FX exchange: remittance, financial accounting

REGULATORY
REPORTING

EFT, STR, LCTR, LVCTR – FINTRAC API and goAML reports are ready to publish. It’s a plug-and-play solution.

CASE
MANAGER

AI-driven case manager, alert manager, ID manager, profile management, investigations

Integrated With

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25 Years of Excellence

16 Serving In Countries

95% Customer Retainership

+1 Million Daily Transactions

800+ Corporate clients

LiveEx-Shield

We offer AML software solutions that are completely in sync with regulatory AML/AFT compliance guidelines. Experience the power of LiveEx-One, our cutting-edge Transaction Monitoring System (TMS) tool designed to elevate your regulatory compliance strategy. LiveEx-One is fully equipped to seamlessly integrate with regulatory reporting frameworks, ensuring a compliant and streamlined experience for our clients.
LiveEx-One is a comprehensive solution for onboarding, screening, risk assessment, rules, smart rules, KYC, risk mitigation, case management, investigations, non-face-to-face transactions, risk overrides, and regulatory reporting.
LiveEx-One features robust mechanisms for data validation, ensuring accuracy and integrity. Comprehensive checks confirm data authenticity, while thorough risk assessments meet rigorous compliance standards. Continuous monitoring maintains regulatory adherence throughout your operations.
Our journey has been bolstered by the unwavering support and transparent SDK documentation from FINTRAC. We extend our heartfelt gratitude to the dedicated team at FINTRAC for their exceptional assistance!
Empower your business with LiveEx-One and join us in navigating regulatory landscapes with confidence. Let’s connect, comply, and conquer together!

Automating Compliance Processes

LiveEx-Shield’s TMS is designed to help organizations comply with the regulatory requirements

Identifying Suspicious Activity

LiveEx-Shield TMS analyzes transactions in real-time in order to quickly identify potentially

Improving Operational Efficiency

With LiveEx-Shield’s TMS, compliance processes can be streamlined and the amount of time

Meeting Regulatory Requirements

Many of the compliance processes required by regulators can be automated using LiveEx-Shield TMS,

How Can Benefit You?

Customized solutions with practical tactics

Regulatory reporting management

Auto Updates with regulatory frequent changes

Ensures effectiveness of Compliance

Real-time alert management

FIT FOR PURPOSE software

Controls & Digitalization of business compliance

Why Choose us?

Highly Skilled Subject Master Experts

Interactive Input / Output Screens

Rapid and Efficient Deployment

Around the Clock Online Support

Affordable and Effective Solutions

Decades of Expertiese in AML/CFT Compilance

Establish trust, verify customers, comply with KYC, fight crime, and work globally Besides preventing fraud.

LiveEx-Shield ensures KYC compliance and ensures age and identity verification, as well as increasing conversion rates.

Identify and stop fraudsters

With our extensive fraud prevention and anti-money laundering services, including network analysis, automated ID review, and biometric extraction, you can welcome more honest customers and lock out fraudsters.

User-friendly interface

It shouldn’t be a barrier for sign-ups to require document verification. You can identify your customer . using a selfie and an ID photo They can take flawless shots every time since they have Assisted Image Capture as their personal automated photography coach.

Verification that is extremely accurate

By combining machine learning and artificial intelligence, we are able to perform document authentication and electronic age verification consistently well.

LiveEx - Complete ERP Solution for Financial Institution

  • Many Financial Institution are slowed down by software that provides lengthy front desk operations and irregular and undecipherable back desk ones
  • With increasing regulatory pressures, complex global operations, rising demand for innovative customer service and new competitors entering the market, Currency Exchange Centres cannot afford to be bogged down by fossilised software.
  • This is where Omit Computer International saw an opportunity for innovation

Our Brochures

we Develop Software, we Implement Software, we Love Software

AML/CFT , Software Solution

LiveEx-Shield, AML/CFT
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LiveEx Shield

TMS, Transaction Monitoring System, AML/CFT compliance solution.
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RiskRegister

AFCBRA, RiskRegister, AML/CFT compliance solution.
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Screening

LiveEx-Shield, Screening.
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About Us

LiveEx-Shield, TMS for DNFBPS.
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LiveEx Shield

LiveEx-Shield, TMS for DNFBPS.
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What Are DNFBPs and Why Should You Care?

Financial establishments likewise have some regulations to combat Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) and these businesses must adhere to the regulations. The avoidance of money laundering activities not only applies to financial organizations functioning as banks but still issued some guidance on FATF Designated Non-Financial Businesses and Professions (DNFBP).

What kind of Business falls into the DNFBP category

  • Auditors, external accountants, and tax advisors
  • Casinos and other gambling service providers
  • Company service providers
  • Dealers in precious metals
  • Dealers in precious stones
  • Lawyers
  • Notaries and other independent legal professionals
  • Real estate agents
  • Trusts

Obligations of Designated Non-Financial Business and Professions

Financial establishments likewise have some regulations to combat Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) and these businesses must adhere to the regulations. The avoidance of money laundering activities not only applies to financial organizations functioning as banks but still issued some guidance on FATF Designated Non-Financial Businesses and Professions (DNFBP).

Real Time Business Solution

Circuit Computer provide real time business solutions which may help to streamline the DNFBPs business processes. Circuit Computer focus on the needs of customers and designed the LiveEx DNFBPs solutions as per the FATF recommendations.

The LiveEx-Shield system provides comprehensive dashboard after the successful login for quick analysis. Live EX provides real time business solutions which may help to streamline the DNFBPs business processes. Circuit Computer focuses on the needs of customers and designed the LiveEx DNFBPs solutions as per the FATF recommendations, Central bank, Ministry of Economy, FIU and other international standards.

Chapter 16 of the Standards for the Regulations Regarding Licensing and Monitoring of Exchange Business, Version 1.20 of November 2021 amending Version 1.10 of February 2018 (Central Bank)

Download the Anti-Money Laundering Guidelines for Designated Non-Financial Entities and Industries (DNFBPs) issued by the United Arab Emirates Ministry of Economy (MOE). Download

FINTRAC - Government of Canda.

Compliance program requirements issued guideance came into effective on June 1, 2021. The compliance program requirements under the Proceeds of Crime (Money and Terrorist Financing Act (PCMLTFA) and associated Regulations apply to all reporting entities (REs) (i) FINTRAC – Complinace program guidance (ii) FINTRAC – Risk assessment guidance

Regulatory Controls

  • Adopt an effective AML sanctions screening program in response to increasing regulatory pressure.
  • Ensure your operations are compliant with standardized compliance reports.
  • Customize reports and manage them.
  • A complete and reliable audit trail is accessible and exportable.
  • Comply with the requirements of auditors and regulators.

Functional Effectiveness

  • Validate and authenticate your customers’ IDs instantly for faster onboarding and service facilitation.
  • In order to drastically reduce the time and resources spent on inaccurate matches, reduce the number of false positives when screening customers.
  • Onboarding timelines and costs can be reduced.
  • Streamline your remediation workflow for efficient reporting.
  • Monitor screening processes constantly and automate them over time.
  • Integrate compliance processes into core applications, CRM, and ERP systems

Basic faq

Regulatory - Standards

16.14.1 EDD is required before entering into any business relationship with, or processing any transactions for, DNFBPs as defined under the AML-CFT Decision. DNFBPs may be natural or legal persons.

16.14.2

Where a customer is determined to be a DNFBP, the Licensed Person must carry out the following required steps, in addition to the CDD and EDD required by Paragraph 16.11 of these Standards and any other EDD appropriate to manage the risk of the customer

Tipping-off and confidentiality Financial institutions, their directors, officers and employees should be:

BitWords%20Inc
  • a) Verifying that the customer has the required licenses;
  • b) Obtaining information sufficient to determine that the customer is compliant with the AML/CFT preventive measures required under AML-CFT Decision;
  • c) Take additional steps to understand the customer’s business, including the products and services it offers, its geographic footprint, and its customer base;
  • (a) protected by law from criminal and civil liability for breach of any restriction on disclosure of information imposed by contract or by any legislative, regulatory or administrative provision. if they report their suspicions in good faith to the FIU, even if they did not know precisely what the underlying criminal activity was, and regardless of whether illegal activity actually occurred; and
  • (b) prohibited by law from disclosing (“tipping-off”) the fact that a suspicious transaction report (STR) or related information is being filed with the FIU. These provisions are not intended to inhibit information sharing under Recommendation 18. The requirements set out in Recommendations 18 to 21 apply to all designated non-financial businesses and professions, subject to the following qualifications:
a)
Lawyers, notaries, other independent legal professionals and accountants should be required to report suspicious transactions when, on behalf of or for a client, they engage in a financial transaction in relation to the activities described in paragraph (d) of Recommendation 22. Countries are strongly encouraged to extend the reporting requirement to the rest of the professional activities of accountants, including auditing.
Dealers in precious metals and dealers in precious stones should be required to report suspicious transactions when they engage in any cash transaction with a customer equal to or above the applicable designated threshold.
Trust and company service providers should be required to report suspicious transactions for a client when, on behalf of or for a client, they engage in a transaction in relation to the activities referred to in paragraph (e) of Recommendation 22.

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