Banco de la Nacion Argentina rolls out Gifts AML system in New York
GIFTS Software, a leading provider of anti-money laundering, funds transfer, and e-banking solutions, announced today that Banco de la Nacion Argentina, New York has selected its GIFTSWEB EDD Anti-Money Laundering solution.
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The implementation of the GIFTSWEB EDD (Enhanced Due Diligence) solution will assist Banco de la Nacion Argentina in complying with U.S. Bank Secrecy Act requirements, as amended by the USA Patriot Act of October 26, 2001. GIFTSWEB EDD is comprised of the five following modules, each of which can be implemented separately or as a total solution:
- Subpoena/Inquiry Module - allows the user to perform real-time inquiries against a database of transactions and respond to regulators, subpoenas or internal inquiries.
- Profiler Module - Provides AML & terrorist financing detection scenarios and the ability to filter transactional or customer data for specific information such as PEPs, 314a, OFAC/SDN List, Sanction List, FSA, and NCCTs.
- Patterning Module - develops transaction pattern profiles for each customer account or group of accounts allowing comparison of patterns periodically to report unusual variances.
- OFAC/Sanction List Module - allows automated interdiction list filtering of transactional & customer data via real-time or file-based interface.
- CIP Module - scans new accounts in real-time or batch against any sanction list in order to comply with Section 326 of The USA PATRIOT Act.