Fortent, a specialist in anti-money laundering, Know Your Customer, and fraud detection technology, today announced its acquisition of Alert Global Media (AGM), the Miami-based publisher of moneylaundering.com and Money Laundering Alert and provider of anti-money laundering (AML) conferences and training for financial professionals.
The transaction significantly expands Fortent's platform of risk and compliance products and services, creating a comprehensive suite of technology, training, and information services for financial institutions and government agencies worldwide. The financial terms of the deal were not disclosed.
"Alert Global Media is the industry's premier source of anti-money laundering information and training," says Sandy Jaffee, CEO of Fortent. "This acquisition further positions Fortent as the leading risk, compliance, and knowledge solutions provider to financial institutions globally."
AGM's websites, Moneylaundering.com and the Spanish-language site, Lavadodinero.com, provide daily news and analysis of AML regulations and reference information on money laundering laws, regulations, international developments, and government action. The sites are used as training tools by financial institutions and government agencies worldwide. Money Laundering Alert, AGM's monthly newsletter, covers legislative, regulatory, and enforcement developments in the United States and other countries. Launched in 1989, the newsletter was the world's first periodical devoted to money laundering.
AGM's internationally recognized conferences and other training programs attract financial services, regulatory, and law enforcement professionals from more than 90 countries. Its Annual International Money Laundering Conference and Exhibition, held each March in Hollywood, Florida, is the largest AML conference in the world.
The day-to-day operations of Alert Global Media's publishing, conference, and training units will operate independently from Fortent's compliance technology business. "Trust and integrity drive everything we do," says Ms Jaffee, "and we are committed to letting our business units function in a way that best serves our customers in all areas of their compliance needs."
"The joining of these two powerful brands with complementary skills, resources, and reach raises the quality of AML products and services offered to the world's financial and government sectors," says Charles A. Intriago, founder of Alert Global Media, who will continue to lead that business as a senior executive of Fortent.
"We are impressed by Fortent's reputation as a global leader in compliance technology and its commitment to maintaining AGM, including the Association of Certified Anti-Money Laundering Specialists, as an independently managed business within its overall risk and compliance offerings. This acquisition solidifies Fortent's dedication to building a true end-to-end risk and compliance solution," Intriago adds.