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Norkom’s AML Solution Installed at RHB Banking Group
Published on Nov 30, 2010

The RHB Banking Group, Malaysia’s fully integrated financial services group, has selected Norkom’s Anti-Money Laundering (AML) solution to meet increasingly stringent regulations centered on anti-money laundering and counter terrorism financing (AML/CTF).

Norkom’s Anti-Money Laundering (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 analyze every transaction and customer interaction across its entire customer base for suspicious activity. When suspicious activity is identified, the solution automatically issues prioritized alerts to a team of investigators, commencing a comprehensive, step-by-step investigation process specifically designed to uncover potential criminal behavior as quickly as possible.

The RHB Banking Group, with its presence in Malaysia and in the region, is continuously enhancing its internal measures to be in line with international best practices in compliance with the Financial Action Task Force (FAFT) recommendations.

”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,” said Dato’ Tajuddin Atan, Group Managing Director of the RHB Banking Group.

“We are delighted to announce the RHB Banking Group as a client. Malaysia is a hive of activity right now as it prepares for the FATF 2012 mutual evaluation report. By selecting Norkom’s AML solution, RHB Banking Group will embark on complete compliance with both national and international legislative requirements, and protect its organization and clients from the financial and reputational risks associated with financial crime,” said Bruce Quick, Norkom’s Director of Sales & Business Development for Asia Pacific. ***

Source: Business Wire

Mandate details
Provider Norkom
Client RHB Banking Group
Mandate value Undisclosed

Product name: Anti-Money Laundering
Product type: Compliance and Regulations | Connectivity | Data | Market Risk | Reporting | Risk Management

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