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| First Korean Bank to select Anti Money Laundering AML solution | |
| 28th May 2007 Mantas Inc., the provider of regulatory compliance, loss prevention and revenue generation solutions, says that Korea Exchange Bank, the country's largest foreign exchange bank, has purchased the Mantas Anti-Money Laundering Solution. Mantas Anti-Money Laundering mitigates risk with comprehensive, enterprise-wide surveillance of customer, account and transaction information to alert supervisors to suspicious behaviors. The system's unique ability to analyse every transaction and generate risk-based alerts of suspected money laundering activities allows Anti Money Laundering and compliance officers to distinguish fraudulent from legitimate transactions. Korea Exchange Bank sees Mantas as a comprehensive AML solution designed to meet upcoming Korean AML regulations as well as enable the bank to expand its international business in Asia, Europe, and the U.S. In the super-charged competition for market share, institutions simply cannot risk the damage to reputation and client trust that result from financial abuse and illicit activity. “Korea Exchange Bank's requirement to meet local and global AML regulations is indicative of a growing customer segment we serve. Big multinational institutions like Citibank, Credit Suisse, and ABN Amro have been using Mantas AML for several years because we provide a platform approach and offer multiple products, as well and analytics, data mining, and intelligent technologies,” said S. Ramakrishan, CEO for Mantas and Reveleus. |
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