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Callcredit announces deal with Bank of Ceylon (UK) Ltd to help prevent money laundering Print E-mail
Monday, 01 September 2014

The Bank of Ceylon (UK) Ltd a subsidiary of Sri Lanka’s largest bank, Bank of Ceylon has signed a new contract with Callcredit Information Group which will help prevent money laundering and assist in meeting with regulatory compliance.

Bank of Ceylon (UK) Ltd has extended its contract to use Callcredit’s customer identity verification service CallML.  Recognised by The Joint Money Laundering Steering Group, Callcredit provides electronic verification which helps businesses to meet their obligations under the money laundering regulations.
 
The contract extension means The Bank of Ceylon (UK) Ltd will continue to have access to Callcredit's unrivalled range of independent and reliable data sources enabling a simple pass/refer decision based on the banks chosen data sources and logic.  This will enable the Bank to undertake business with new customers confidently knowing exactly who they are dealing with.
 
Sam Ahangama, Head of Compliance, Bank of Ceylon (UK) said: “Callcredit has an unrivalled understanding of the financial services sector in relation to the prevention of financial crime.  By using CallML it has helped us simplify the process of achieving regulatory compliance and mitigating any financial risk. All of this has been achieved with no intrusion on our customers during the application process, enabling a faster, paperless customer 'take on' whilst reducing any potential money laundering or fraud, as a result we are delighted to continue our work with Callcredit.”
 
Peter Mansfield, Managing Director, Callcredit Ltd said: “It is a pleasure to continue our work with The Bank of Ceylon (UK) Ltd.  We have been helping the Bank for a number of years make better informed decisions about its customers whilst protecting it from potential money launderers and fraudsters and we look forward to continuing to provide this service in future years to come.”

(Source - Callcredit News Alert)
 

 

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