Legislation such as the Criminal Justice Act of 1994 and the Third EC Money Laundering Directive are serving as the impetus to elevate money laundering compliance as a much higher priority for many of Ireland's top financial institutions.

Carreker's CORE AML Filter system screens names and related data against industry blacklists, local high-risk lists and even customised positive lists to optimise alert volumes and minimise false positive results. When suspicious activity is identified, CORE AML Filter automatically alerts the appropriate personnel for timely, decisive action and reporting.

"One thing that makes EBS unique is the emphasis it places on constantly seeking new ways to improve the organisation, whether it's through enhanced products or services or improved responsiveness to their members' needs," said Thomas G. Gordon, senior vice president, Risk Solutions Group, Carreker.

"EBS selected CORE AML Filter following a lengthy evaluation period. The solution provides them with the latest in anti-money laundering compliance technology."

CORE AML Filter utilises advanced fuzzy matching techniques to screen names in accounts, posted transactions and other data sources against watch lists and other required lists. The system can be customised to adapt to the appropriate risk-based approach for an organisation's specific compliance needs.

J.D. (Denny) Carreker, chairman and CEO, Carreker, said, "While this transaction will not have a material impact on Carreker's revenue, we are delighted that our proven solutions continue to add value by helping forward-thinking organisations like EBS Building Society and others in the Irish financial services community in their efforts in detecting and preventing financial crime."