IPTMA channels Thomson Reuters for platform for sanctions screening

Source: IPTMA

The International Payment & Transaction Monitoring Association (IPTMA) today announced a new partnership with Thomson Reuters to provide subscribers with a global risk management and screening solution (World-Check) channeled through IPTMA’s recently launched platform, Gilante.

The IPTMA unique platform provides banks and financial institutions with a sophisticated, yet easily integrated and user friendly tool to manage transactional and reputational risk. Gilante also includes the bonus facility of undertaking thorough AML, CTF and PEP due diligence on their client base through utilizing Thomson Reuters World-Check. Clients are also afforded the facility to store policies, procedures and transactional information to be available on request to the organizations that facilitate transactions - thereby providing the transparency that institutions worldwide demand.

World-Check is Thomson Reuters' source of intelligence on politically-exposed persons (PEPs) and heightened risk individuals and organizations globally. World-Check data helps customers comply with legislation and regulations for preventing anti-money laundering, threat financing, anti-corruption, organized crime and third party risk.

Thyer McCaffery, founder of IPTMA, said, “Gilante is a world-first tool that allows regulated businesses to be proactive in the battle against money laundering and terrorism financing by putting up a united front. All IPTMA subscribers are able to populate the Gilante patented macro transactional monitoring tool to reflect their risk appetite. By monitoring transactional activity across our global subscriber base, criminal activity will be impeded. In the long run, Gilante transaction monitoring will deter criminal activity through the IPTMA subscriber base.”

“IPTMA launched in 2014 and while our initial focus has been in Australia, our reach has quickly expanded with IPTMA currently finalizing details for the company to expand into offices in Hong Kong and Dubai with a future office and platform roll-out also planned in London” he added.

Daryl Sisson, Managing Director, Pacific at Thomson Reuters, said, “As regulatory demands continue to increase and the global focus on anti-money laundering intensifies, organizations are faced with the burden of assessing, monitoring and disclosing risk while trying to remain competitive. Thomson Reuters' industry-leading partnership with the IPTMA is an exciting new step in understanding and combating the global financial crime chain.”

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