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| Thomson Reuters Accelus strengthens AML policy at Turkey's largest bank |
London, Sept 28, 2011 - (ACN Newswire) - T.C. Ziraat Bankasi A.S., the largest and oldest bank in Turkey, has engaged Thomson Reuters Governance, Risk and Compliance (accelus.thomsonreuters.com) to strengthen its anti-money laundering and customer screening processes. T.C. Ziraat Bankasi A.S. is Turkey's leading bank with more than 20,000 employees and 1,247 branches worldwide.
Ziraat has integrated the Screening Data Feed from the Thomson Reuters Accelus suite of solutions into its Anti-Money Laundering banking systems. This data, used to screen the bank's potential customers, includes restricted, sanctioned and prohibited people and entities, as well as individuals deemed as 'Politically Exposed Persons' (PEP). Although PEP screening is not currently a legal requirement in Turkey, there is a growing trend for companies in the region to adopt the technology, as banks globally look to establish and maintain best practice Anti-Money Laundering processes across their operations.
"Ziraat is delighted to be working with Thomson Reuters as a trusted partner in delivering comprehensive screening data that will deliver the best level of protection to our business," said Cem Tahir Berik, head of compliance at Ziraat. "It gives us the scope to follow international best standards in terms of our sanctions, enforcement and AML policy, and will enable us to respond quickly and effectively in line with risk."
"We selected the Accelus product as we believe it is best of breed," continued Berik, "providing us with the best service and the most comprehensive and accurate data available."
"With increased global regulatory focus on AML and counter-terrorist practices, together with a rapidly changing regulatory and political landscape, it is vital for our customers to be able to protect their businesses as well as their reputation, and to respond appropriately to the risks presented to their business," said Leas Bachatene, Thomson Reuters Governance, Risk and Compliance vice president and managing director for Middle East, Africa and Asia. "Thomson Reuters Accelus lets them do this, establishing the dynamic connections they need between the external regulatory drivers and data, and their own internal business operations, helping them manage their risk exposure and accelerate their business at every step."
Thomson Reuters Governance, Risk and Compliance
Through the Thomson Reuters Accelus suite of products, the Governance, Risk & Compliance business dynamically connects business transactions, strategy, and operations to the ever-changing regulatory environment, providing highly regulated firms with informed outcomes.
Thomson Reuters Accelus is a comprehensive suite of solutions specifically built to address the governance, risk and compliance challenges faced by the board room, and their legal, compliance, audit, and risk management professionals. Comprising leading solutions provided by the heritage businesses of Complinet, Oden, Paisley, World-Check, West's Capitol Watch, Westlaw Compliance Advisor, Westlaw Business and EDGARfilings.
Thomson Reuters Accelus helps customers manage their risk exposure and accelerate their business at every step. For more information, visit: accelus.thomsonreuters.com
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 55,000 people and operates in over 100 countries. For more information, go to http://thomsonreuters.com .
CONTACT
Kimberley Allan
+44 (0) 207 429 9444
kimberley.allan@thomsonreuters.com
Jeff McCoy
+1 651 687 4091
jeffrey.mccoy@thomsonreuters.com
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
Copyright (c) Thomson Reuters 2011. All rights reserved.
Topic: Press release summary
Source: Thomson Reuters
http://www.acnnewswire.com
From the Asia Corporate News Network
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