Combat AML Go Live in UAE

Online, December 15, 2012 (Newswire.com) - The Combat AML Solution of Evolvus Solutions went live at leading UAE bank with UK legislation compliance on 13th of December 2012. The transactions will be tracked on a regular basis starting 17th of December 2012 and the AML alerts will be monitored from the same day. Combat will be put in production with legislations of Kingdom of Saudi Arabia in the 2nd phase of implementation.

Money laundering is a problem for the UAE, despite the steps the country has taken to combat financial, organized and terrorist crimes. The UAE maintains a strong Anti Money Laundering (AML) system in an effort to protect against the possibility of money laundering and terrorist financing.

Combat AML provides the much needed security and reporting for banks and other financial institutions. Combat is a comprehensive web based risk solution framework that enables

• Customer dueâ€diligence
• Monitoring of Suspicious Activity
• Detection of Fraud
• Adherence to Legislation and Compliance Requirements
• Alert Management
• Case Management
• Statutory Reporting

Combat focuses on

1. Anti-Money Laundering and Fraud prevention in Banking and Financial Institutions
2. Evolution of money laundering exercises recently and counter measure to them
3. Preparedness of banks to new age financial fraud
4. Reversal of AML software market in Middle East and Europe

Earlier, Evolvus Solutions had hosted senior delegates from Ahli United Group at their head office in Bangalore.

The senior management of Evolvus Solutions showcased all the products and processes of Evolvus Solutions during this day long workshop. The workshop was well received and the delegates were quite upbeat about the offerings of Evolvus Solutions.