STB Systems and Working Together to Combat Money Laundering

- London, England- STB Systems (STB) and integrate their technologies in order to provide financial institutions with comprehensive software tools to guard against money laundering. is a proven market leader in the on-line directories business and in recent years has combined multiple data sets such as the electoral roll and directory enquiries information to provide a comprehensive person search facility.

STB Systems has built its reputation as a world leader in financial compliance and reporting solutions, delivering success for many leading international institutions from offices in London, New York, Hong Kong and Singapore

There are many things that financial services firms are required to do to comply with the anti money laundering (AML) regulations; identity verification figures high on the list. When it comes to Know Your Customer checks there is a need for more robust identification procedures, where identities can be confirmed as well as verified. offers a range of knowledge-based data such as historical Electoral Roll information that can provide previous address information and length of residency checks delivers KYC solutions using a number of definitive data sets, such as the Electoral Roll, both current and historical, and Directory Enquiries data. In addition detailed UK street maps overlaid with both aerial photographs and places of interest can allow location-based questions which can further confirm identities.

As a part of a comprehensive Risk and Compliance solution, STB-Detector and provide a tightly integrated solution to a firms' AML procedures in the area of KYC. The solution addresses the growing needs of financial institutions to better control and manage their risk exposure to opening an account with inadequate customer verification and to be able to record the checks made to verify and confirm identity. The verification checks made can be recalled within STB-Detector and detailed data recorded as necessary.

STB-Detector, STB's anti money laundering system, provides a comprehensive addition to the defences of any financial institution. The system has four modules:

- Suspicious Activity Monitoring
- Account Opening Due Diligence
- Watch List Monitor
- Investigations

These modules provide extensive coverage of all the key areas of compliance the MLRO (Money Laundering Reporting Officer) requires. Account movements can be checked against historical and peer group patterns, and against a variety of absolute and flexible thresholds. Account opening "Know-Your-Customer" procedures are enhanced and documentation renewal reminders can be generated. Customer databases and payments may be checked against any number of internal and external sanctions lists.

STB-Detector is fast establishing itself as a global solution to money laundering controls, with installations in New York, London, Hong Kong and Singapore.

Commenting on the agreement, Michael Thomas, Group CEO, STB Systems, said, "We are confident that this will deliver an effective AML solution for all types of financial institutions and are very pleased to be working with With increased pressure to verify and confirm identity and the attractive pricing of both STB-Detector and's service, this is a must have solution for the financial services industry".

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