Euroclear licenses Norkom fraud detection technology

Euroclear licenses Norkom fraud detection technology

European securities depository Euroclear is implementing anti-money laundering software from Dublin-based Norkom Technologies.

Euroclear will use the technology to to detect suspicious transactions and money laundering activity. The system will be used to screen customer accounts against watch-lists and to monitor all transactions for suspicious behaviour.

Norkom Technologies acquired Belgium-based risk management firm Data4s in November last year. Paul Kerley, CEO, Norkom, says the deal with Euroclear is the company's first big success since the integration of the new European operations within the group.

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