Bank of Ceylon extends anti-money laundering contract with Callcredit Group
Wednesday, 3 September 2014 00:36
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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) has extended its contract to use Callcredit’s customer identity verification service CallML, which has been recognised by the Joint Money Laundering Steering Group, a statement said.
The contract extension means The Bank of Ceylon (UK) will continue to have access to Callcredit’s range of independent data sources enabling a simple pass/refer decision based on the bank’s chosen data sources and logic.
Bank of Ceylon (UK) Head of Compliance Sam Ahangama 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.”
Callcredit Managing Director Peter Mansfield 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.”
