Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Fortent How to cut costs of anti-money laundering regs
NEW YORK (3/14/08)--A white paper from Fortent outlines ways credit unions can lower the costs of anti-money laundering (AML) systems. Fortent developed the solutions to address cost issues, because “the most significant driver by far is how much organizations spend on operating their AML systems and all the workflow that surrounds these systems, including investigations,” said Ray Parodi, Fortent group executive of product management. Steps outlined in the paper include:
* Breaking down enterprise data silos; * Adopting dynamic profiling technology; and * Leveraging AML systems to fight fraud.
“We have put our research and development into finding ways to reduce these costs and have found that using the right technology can lower the total cost of ownership of AML systems by up to 40%,” Parodi said. The costs of investigations and Suspicious Activity Report (SAR) filings are higher than hardware or systems, according to Fortent. Fortent’s white paper will be distributed next week at Money Laundering Alert’s 13th annual International Conference and Exhibition in Hollywood, Fla. To download the paper, use the link.
Other Resources

RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
34 minutes ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
1 hour ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
1 hour ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
2 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
2 hours ago