March 31, 2010 – Tokyo, Japan – Experian®, the global information services company, today announced that it has launched its ASSIST suite of anti-money laundering software in Japan.
ASSIST will enable organizations in Japan to implement automated systems and processes required by the regulator to monitor, detect, investigate, document and report money laundering activities.
ASSIST analyses transactional activity based on user defined or default profiles to determine suspicious trends by account, branch, officer, dates, and types of transactions and/or country. The software also allows users to create rules or conditions that will also trigger alerts if any transactional activity hits them. Monitoring scenarios include date range, type of transactions, total amounts, number of transactions, risk values and more.
By using the software, institutions will be able to analyze how money moves in, around and out of the bank, identify suspect patterns of behavior, and create reports to reduce the administrative burdens and cost associated with manual compliance processes.
ASSIST is compliant with local AML regulations, including the output of suspicious transactions reports in the JAFIC format, required by local law enforcement agencies and also provides full Japanese language support.
"Suspicious activities, including money laundering, fraud, terrorist funding and tax evasion, are on the rise worldwide and Japan is also affected. Criminals are developing more creative and difficult-to-detect methods for funneling illegal funds," said Paul Smith, Head of Experian’s Fraud and Identity Solutions in Asia Pacific. "Powered by our innovative data and analytics, our ASSIST software enables institutions to monitor and detect these activities. Without effective systems and processes in place, valuable resources are depleted in an attempt to comply with regulations."
Experian's ASSIST anti-money laundering software provides a full range of global compliance products for money laundering and suspicious activity detection, investigation and reporting. The software supports the deployment of local user- defined rules in addition to best practice templates and complies with Japanese government regulations. More than 100 clients across Asia Pacific, Europe and the Middle East, North America and Latin America are using Experian's anti-money laundering services.
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Experian is the leading global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision-making. Experian also helps individuals to manage their credit relationships and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2009 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com or in Japanese, visit http://www.experian.co.jp