GCC Exchange signs Anti-Money Laundering SaaS Contract with Wynyard

James Dartnell by James Dartnell - January 8th, 2014

gccUAE money exchange GCC Exchange has signed a contract with Wynyard Group for its Anti-Money Laundering (AML) software-as-a-service.

As GCC Exchange focuses to expand its network of branches across the UAE, the company needed an AML software solution to facilitate business growth whilst meeting strict regulatory requirements.

GCC Exchange General Manager, Mukesh Himatlal said the UAE is amongst the leading countries seeking strict compliance of strong Anti-Money Laundering systems in an effort to protect against the possibility of money laundering and terrorist financing. “By partnering with Wynyard we are armed with the top tools in the industry to best protect our business and customers from financial crime.  Wynyard will help us meet worldwide compliance and regulatory standards so we can focus on growing our business and delivering excellent customer service.”

Wynyard Group’s AML solution integrates watch lists from Dow Jones Risk and Compliance, providing Politically Exposed Persons (PEP), sanctioned entity and Know Your Customer (KYC) screening.

Wynyard Group Managing Director, Craig Richardson, said Wynyard is delighted to be working with GCC Exchange and helping it meet regulations imposed to better monitor cash flows through the UAE financial system.

“Wynyard is experiencing growing demand for its advanced crime analytics SaaS solution, particularly in the United Kingdom, the Middle East and New Zealand,” he said.

“We have a world-leading Financial Crime team experienced in developing solutions for complex corporate fraud, money laundering and countering funding of terrorism investigations which give Wynyard clients access to the best global knowledge, skills and experience for supporting local, national and trans-national financial crime detection and prevention.”

 




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