Bear Stearns selects Mantas AML and trading compliance software

Bear Stearns selects Mantas AML and trading compliance software

US bank Bear Stearns is implementing anti-money laundering and trading compliance technology from Virginia-based Mantas to monitor suspicious activity across its worldwide operations.

The vendor's trading compliance product will provide the bank with complete visibility into interactions between traders and other market participants, and tracks mishandled transactions, attempts at market manipulation and anti-competitive behaviour.

Mantas's money laundering tool will monitor accounts, customers and correspondents for unusual activity across the enterprise.

Peter Cherasia, CIO, Bear Stearns, comments: "Bear Stearns takes its compliance and trade surveillance responsibilities very seriously. We are pleased with our selection and the progress we have made during the implementation."

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