British firm offers more AML software
Chris Hamblin, Clearview Publishing, Editor, London, 28 July 2014
Certeco, the compliance software firm, is now offering banks an anti-money-laundering BPO service that, among other things, spots suspicious activity.
Certeco, a fast-growing British "technology change consultancy", has launched a new business-process outsourcing service dedicated to money-laundering control.
The 'AML BPO' service is designed to help banks and other financial institutions ensure that they have the right systems, procedures and processes in place, plus regular periodic reviews and audits to recognise any potential money laundering activity. It helps banks to analyse global AML data, to flag up discrepancies and identify places where questionable or illegal activity may be taking place.
Graham Smith, Certeco's director of services and solutions, suggested in a press release that the new service might provide "airtight audit trails [to allow banks] to prove adherence to standards and ensure they are in no way harbouring criminal activity," which some may see as a trifle optimistic. The organisation's website is at www.certeco.co.uk
