Dexia BIL chooses NetEconomy to detect money laundering
29 January 2003 | 3089 views | 0
Dexia Banque Internationale, a Luxembourg branch of the Dexia Group, has rolled out NetEconomy's anti-money laundering software, Erase, across its private and retail banking operations.
Netherlands-based NetEconomy teamed up with LogicaCMG to implement the risk monitoring system, which profiles financial behaviour by monitoring transaction streams and other customer data.
Frank Veyder, head of compliance, Dexia BIL, says: "We wanted to provide our risk personnel with a sophisticated solution that could detect and prioritise suspicious activities so that staff could concentrate their efforts on the greatest risks and quickly eliminate them."
NetEconomy says the software will also be rolled out to the bank's multiple divisions across Europe.