Side signs five Cypriot banks to SafeWatch compliance technology

Source: SIDE

The five major financial institutions in Cyprus have selected SIDE SafeWatch to filter their financial transactions against sanction lists, and enforce rigorous KYC procedures.

Bank of Cyprus, Laiki Group, Hellenic Bank, Emporiki and Universal Bank have decided for SafeWatch after a long selection process. The capability of SafeWatch to filter Greek character sets was an important factor in the decision of the banks.

Using SafeWatch, the Cypriot financial institutions will ensure they are compliant with the highest European standards as specified by the anti-money laundering directives.

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