Anti-Money Laundering

In light of current events, anti-money laundering (AML) has become one of the first buzz words of the 21^st century.  Global initiatives to crackdown on criminal and terrorist activities are increasing daily.  The money laundering regulations outline stringent new requirements for financial institutions to ensure that both transactions and customers are legitimate.   

United Nations Security Council resolutions require the imposition of sanctions on named individuals or entities. Most companies find it difficult to meet their obligations in relation to sanctions without automation.  Automated solutions are the only effective way to deal with hundreds or thousands of transactions per day and can be relied upon to scan each record consistently and objectively. 

Using Logica’s HotScan product suite, firms can scan all of their customer databases and on-line transactions against all sanctions lists, including OFAC, Bank of England, EU and World-Check.  

HotScan is used by eight of the world’s top 20 banks and is deployed in the Americas, Europe, Asia and Australia. The product is inherently scalable, the customer base includes some of the world’s smallest banks through to large scale implementations with the requirement to process hundreds of thousands of transactions per day. 

Logica’s international coverage enables it to offer HotScan customers true global support.  Furthermore, customers see reduced risk in contracting an important part of their payments infrastructure with Logica because of our scale and expertise.