Major Customer Goes Live with Our Anti-Money Laundering Software in Australia
February 4, 2009One of our major customers has completed a rollout of IMX Software’s Anti-Money Laundering system throughout their Australian branches to further extend the functionality of the IMX Foreign Exchange Point of Sale system, which they have been using for several years.
Compliance with the latest Austrac requirements involves operational scrutiny and reporting across the entire organisation, which is difficult to achieve effectively without good quality systems automation software. As the customer has been using the IMX Point of Sale system for some time, it was a logical next step to enhance the functionality by adding the IMX AML module, which provides all the necessary functionality for an organisation to meet the Australian compliance requirements.
The IMX Anti-Money Laundering system can be used to add comprehensive compliance functionality to the IMX Foreign Exchange Point of Sale system, in both browser based and desktop versions. The AML system provides both real time checking of individual transactions against regulatory limits, as well as building a database of transactional data which can then be used to detect common laundering techniques such as transaction structuring, and provide the basis for submission of suspicious matter and threshold reporting. The system can be tailored for various jurisdictions where an organisation may operate, and has the advantage of providing visibility across the entire national operation of an organisation, not just with a single branch. Deploying the IMX AML system can dramatically ease the compliance burden on an organisation, and reduce the need for manual checking of data for compliance issues.
If you would like to know more, please don’t hesitate to contact your account manager, or myself
