Kaupthing Bank implements FircoSoft AML software

Iceland's Kaupthing Bank has implemented anti-money laundering technology from FircoSoft designed to detect high risk counterparties and alleviate the risk of processing illegal transactions.

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Kaupthing Bank implements FircoSoft AML software

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The Nordic bank has installed the technology ahead of tighter EU rules on the prevention of money laundering and terrorist financing.

FircoSoft's Ofac-Agent watch list filtering software is currently employed by some 250 banks worldwide.

In July, three Icelandic banks - Landsbanki Islands, Glitnir Bank, Sparisjóabanki/sparisjodirnir(Icebank) - and the Central Bank of Iceland announced plans to jointly implement anti-money laundering and transaction monitoring technology from Norkom.

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