Compliance for the securities industry
Beam minimizes your risk of large penalties and reputational damage for substantially less cost

In the past, banks have faced greater oversight than their securities counterparts when it comes to their AML programs. This has made the investments industry an attractive channel for would-be money launderers, forcing securities regulators such as FINRA, the SEC, and the NFA to step-up their scrutiny of the investments side of financial services. A significant challenge is that compliance departments in these firms are often looking for money laundering by using tools that were built to detect unrelated issues, such as suitability or market manipulation. In order to satisfy increased regulatory focus, securities firms need a modern, purpose-built AML tool.


UBS hit with $15 million in fines, penalties for AML problems


More real cases. A lot less noise.

Red flags can often be more clearly identified when a pattern of activity is present, rather than an individual alert. Using state-of-the-art machine learning, Beam’s superior detection software analyzes hundreds of factors about millions of financial transactions to adaptively search for abnormal trends and activity, such as wash trading, flow-through, penny stocks, and high-risk transfers.

Beam’s models take the results of analysts’ investigations in a feedback loop to continually learn from new findings, leading to significantly fewer false positives.

Keep what works

Securities firms can dramatically enhance their current compliance solutions by integrating Beam into their existing algorithms, rule sets, and systems without complete software replacement. The Beam Data Ingestion module allows you to send your data through the Beam solution and start increasing your productivity fast.

Fight crime, not software

Beam’s solution was designed by compliance experts to provide an intuitive, easy-to-use dashboard that takes the drudgery out of transaction monitoring. Beam’s powerful tools help your team investigate more effectively with intelligent data aggregation and a collaborative workflow, significantly reducing case review time. The result is a comprehensive suite that combines transaction monitoring, investigation, and filing of suspicious activity reports (SARs) in a single, unified package.

Protect your company’s bottom line…and your peace of mind

Compliance officers have a major responsibility to protect their firms from the expense and public embarrassment of processing illicit transactions, but they are also under pressure to minimize the costs of compliance itself. With Beam’s best-in-class, cloud-based software, you don’t have to choose between quality and cost. Beam’s suite of AML & compliance solutions help securities firms meet their regulatory obligations by providing cutting-edge software that saves time and money.

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In the news: UBS

On December 17, 2018, UBS was assessed a penalty of $14.5 million for failing to establish and implement an adequate anti-money laundering (AML) program. UBS was penalized for insufficiently monitoring certain high-risk transactions in customer accounts, including foreign currency wire transfers and penny stock trading activity. FINRA found that the firm processed thousands of foreign currency wires for billions of dollars without sufficient oversight; and facilitated the trading of more than 30 billion shares of penny stocks valued at over $545 million through an omnibus account for undisclosed customers.

“AML systems must be reasonably designed to monitor transactions for potentially suspicious activity,” said Susan Schroeder, FINRA’s Executive Vice President, Department of Enforcement. “When firms are part of global operations involving high-risk international securities trades and money movements, it is critical that they design and implement an AML program tailored for their business model.”

This case is a clear demonstration of the dangers of using legacy transaction monitoring systems plagued by insufficient detection capabilities and limited data sets. The issues went undetected for more than eight years, and the firm then took 5 more years to implement a reasonable replacement system, highlighting the challenges of implementing large and complex on-premises technology.

Beam is the ideal solution to augment and enhance the transaction-monitoring capabilities of securities firms such as broker-dealers, clearing firms, asset managers, and investment banks. Beam yields higher catch rates and substantially lower false positives – saving your analysts time and increasing the quality of alerts and cases. It streamlines the investigation process and helps maximize the performance of your team, all the way through the SAR filing. Request a demo to find out how we can help you avoid the expense and reputational risk of non-compliance.