FNB in Lebanon centralises compliance systems with FICO

Friday 26 October 2018 07:58 CET | News

First National Bank (FNB) of Lebanon has migrated to the FICO TONBELLER Siron Anti Financial Crimes Suite to take an integrated approach to compliance with AML/CTF.

FNB will use the FICO solution to detect money laundering, terrorist financing and other financial crimes, and report suspected cases to the country’s financial intelligence unit, the Lebanese Special Investigation Commission. The financial institution will also use the Siron Tax Compliance Reporting module to meet the reporting standards for Foreign Account Tax Compliance Act (FATCA) in the US and the global Common Reporting Standard (CRS) developed by the Organisation for Economic Cooperation and Development.

FICO offers the TONBELLER Siron Anti-Financial Crime Solutions suite on-premises and on AWS, as part of its FICO Analytic Cloud offerings. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 180 US and foreign patents on technologies.

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Keywords: First National Bank, FNB, Lebanon, AML, CTF, fraud prevention, online security, partnership, banking, money laundering
Countries: World