Software for a hard approach

The market for anti-money laundering software has seen strong growth in the last twelve months, in the wake of the FATF Non Cooperative Countries and Territories (NCCT) initiative and latterly following the September 11 attacks. The major players were all in evidence at Money Laundering Alert’s Seventh Annual International Money Laundering Conference in Miami, USA and Timon Molloy took the opportunity to discuss their technologies. This two-part report, which features additional material by Emily Brayshaw and concludes next month, reviews the vendors in no particular order.

HNC www.hnc.com

HNC announced its Risk Manager for Money Laundering with a press release on 11 September 2001 at 8am Eastern time, just before the Twin Towers were struck. The launch was tragically timely admitted Walter Lee, Vice President with responsibility for the AML product line.