The RHB Banking Group, Malaysia’s fourth largest fully-integrated financial services group, has selected Norkom’s anti-money laundering (AML) solution to meet increasingly stringent regulations centred on AML and counter terrorism financing (CTF).
Norkom’s AML solution is designed to help financial institutions to detect and prevent money laundering and the financing of terrorism by enabling the bank to monitor and analyse every transaction and customer interaction across its entire customer base for suspicious activity. When suspicious activity is identified, the solution automatically issues prioritised alerts to a team of investigators, commencing a comprehensive, step-by-step investigation process specifically designed to uncover potential criminal behaviour as quickly as possible.
Dato’ Tajuddin Atan, group managing director of the RHB Banking Group, said: “We are conscious that the criminals are continually evolving their methods and we need to invest in enhancing our measures to put in place barriers for entry and modern transaction monitoring capabilities.”
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