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Article
Publication date: 1 December 2003

Frank Veyder

How to fight money laundering and comply with anti‐money laundering legislation in a way that is both cost effective and precise? Many banks are struggling with this question…

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Abstract

How to fight money laundering and comply with anti‐money laundering legislation in a way that is both cost effective and precise? Many banks are struggling with this question. This paper presents a case study discussing the pros and cons of implementing a transaction monitoring system. Dexia Banque Internationale Luxembourg (Dexia BIL) chose ERASE (Efficient Risk Analysis System Enhancement), a monitoring solution provided by NetEconomy of the Netherlands. The paper examines why such a system is needed, what kind of objectives a system should meet, how to identify unusual and suspicious activity, and the potential problems that may be encountered.

Details

Journal of Financial Regulation and Compliance, vol. 11 no. 4
Type: Research Article
ISSN: 1358-1988

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