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Anti-Money Laundering Software is the First Line of Defense in the Battle Against Money-Laundering

Wednesday 24 March 2004 17:54 CET | News

Bank of Tokyo-Mitsubishi, Conway National Bank and Philippine National Bank have all enlisted the GIFTS GIFTSWEB EDD anti-money laundering & OFAC solution as their first line of defense in the battle against money-laundering.The implementation of the EDD solution will assist Bank of Tokyo-Mitsubishi, Conway National Bank and Philippine National Bank in responding to U.S. Bank Secrecy Act requirements, as amended by The USA Patriot Act of October 26, 2001. Comprised of five powerful modules: BSA Inquiry, Transaction Profiler, Transaction Patterning, OFAC and CIP, GIFTSWEB EDD is the solution to "Knowing Your Customer". Bank of Tokyo-Mitsubishi is a subsidiary of Mitsubishi Tokyo Financial Group, Inc. (MTFG) located in Tokyo, Japan. There are 12 branches currently operating in the U.S. with headquarters in New York City. Conway National Bank, founded in 1903, is one of the few blue-ribbon banks in the state of South Carolina. CNB is consistently ranked among the safest and most stable financial institutions in the nation. Bauer Financial Reports has repeatedly awarded CNB its five-star rating. The Philippine National Bank was established in 1916 and marked its entry in the field of international banking in 1917 when it opened its New York Branch. In 1992, PNB became the first Philippine bank to reach the P100 billion mark in assets. The Bank remains as one of the largest banks in the country with a wide array of competitive banking products to answer for the diverse needs of its huge clientele including more than 2 million depositors. GIFTS Software is a leading provider of compliance solutions. In addition, GIFTS Software provides the worlds most integrated funds transfer, e-banking and customer relationship management systems.

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Categories: Payments & Commerce | Payments General
Countries: World
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