Tuesday, July 15, 2008

Sharjah Islamic Bank Adapts New Money Laundering Prevention Process

CPI Financial reports that Sharjah Islamic Bank has implemented a new risk compliance solution from Complinet for fraud related screening.

The Complinet Global Sreening Workstation will screen clients against a global database of enforcements, backlists, sanctions, politically exposed persons. This new solution will be used on all existing customers, as well as brand new clients. All these names will be crosschecked against the system, and when the names of clients are on global watchlists, compliance managers will be notified. This system will also be used to verify potential customers.

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