Accuity launches anti-money laundering platform

Source: Accuity

Accuity, a leading provider of financial industry data, software and services announced today that it has re-structured its comprehensive and customizable collection of risk control solutions so that a full solution set is now available to fit the broad range of needs across industries.

Accuity's Compliance Suite provides financial institutions, corporations and other organizations a first-line of defense for protecting themselves from unwittingly participating in illicit financial activities, such as money laundering and terrorist financing. The Compliance Suite comprises Accuity's Screening Filters, Accuity's Global WatchList and Accuity's Suspicious Activity Monitoring Solutions.

Jeff Scott, president of Accuity, said that the re-structuring comes in response to the changes in the industry, as well as within the company.

"Nearly every business has a responsibility to comply with a number of regulations as well as perform its own level of due diligence. However, a community bank in the U.S., for example, has needs that are significantly different from those of a large international corporation or a multi-national bank," Scott said. "Accuity's Compliance Suite will enable our team to assist customers with selecting components based on their operational needs and technical capabilities, and will enable us to better respond to the wide range of customers who use our products."

Accuity's Screening Filters are powerful, automated solutions that enable users to screen their information files and transactions. The system screens data files, from multiple applications and platforms, by employing advanced, highly accurate search logic that is proven to provide more accurate results.

Accuity's Global WatchList is compiled from a constantly growing register of international intelligence sources and contains lists from regulatory authorities such as the Office of Foreign Assets Control (OFAC) and European Union for blocking business with sanctioned entities. In addition, enhanced due diligence lists containing cautionary information such as suspect geographic locations and Politically Exposed Persons (PEP) are included.

Accuity's Suspicious Activity Monitoring Solutions provide end-to-end coverage that enables users to address guidelines or regulations such as those set forth by the Bank Secrecy Act (BSA), Financial Action Task Force (FATF) and the USA PATRIOT Act.

Each solution within Accuity's Compliance Suite offers variable levels of customization and can be implemented as Web-based, integrated or stand-alone tools.

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