Say NO to FRAUD! Q2 Supports The Largest Private Bank in Indonesia.

Posted : December 07, 2012

Jakarta, December 3th, 2012, Q2 Technologies and Nice Actimize have been working in developing AML Solutions Project for BCA. This project was aimed to avoid the Money laundering that used for  the financial system to hide the source of funds gained from illegal activity such as bribery, embezzlement, fraud or other criminal activity.

Money laundering in Indonesia is a significant problem due to a poorly regulated financial system, a lack of effective law enforcement and widespread corruption. Most money laundering in the country is connected to non-drug criminal activity, such as gambling, prostitution, bank fraud, piracy and counterfeiting, and illegal logging and corruption. Indonesia also has a long history of smuggling, facilitated by thousands of miles of unpatrolled coastline and a law enforcement system riddled with corruption. The proceeds of these illicit activities are easily parked offshore and only repatriated as required for commercial and personal needs.

Considering those mentioned, to prevent these things happening, all Banks in Indonesia should develop AML Solutions. In doing so, BCA is fully supported by Q2 Technologies and NICE Actimize.  BCA will be started to implement AML Solutions in December 2011.  This AML Solutions provides the other component which could handling transaction filtering, made filtering to their transactional out going and receiving payment, Replacing an existing AML solution in BCA to have a more flexible solution that user can create/modify a rule by themselves, International Banking need a solution to do a transaction filtering based on OFAC, UN, internal black list ; currently BCA did it manually and we believe these application also could fulfill their needs.

The advantage of AML Solution of Actimize are : To provides end-to-end AML detection and management capabilities across the enterprise. Deployed by 140+ mid-tier and large-scale global clients across six continents, Actimize enables firms to comply with AML regulations from agencies around the world. The suite consists of three solutions, available individually or as an integrated whole: Suspicious Activity Monitoring, Watch List Filtering, and Customer Due Diligence. Actimize AML solutions are built on an integrated core risk platform, with data sharing across solutions, providing firms with rapid deployment and lower TCO. Besides that, Actimize can also do the monitoring for a customer transaction by through their behavior.

Sumarto Santosa, Director of Q2 Technologies
added, “We are delighted to be supporting one of the largest Banks in Indonesia with its IT growth strategy. Through the implementation of AML Solutions, BCA will be able to monitor any suspicious activity in their daily transactions and prevent any losses from the customers. Also strengthen the bank’s reputation for excellent customer transactions.”