March 12, 2007 - Securities Industry News

Many organizations have supplemented the Ofac list with a consolidated list from specialized providers such as World-Check or Factiva, which provide them with greater depth of information and more frequent updates, said Rosemary Turley, head of marketing at Dublin-based AML systems vendor Norkom Technologies.

March 5, 2007 - Compliance Monitor

Recent research from TowerGroup revealed that any institution exposed as the victim of criminal infiltration, or publicly reprimanded by the regulator for lack of diligence in crime prevention, can expect to see its market capitalisation fall 200 points or more. It will typically take more than four months for values to recover and the market will only be reassured by drastic action; often including the ‘hasty resignation’ of at least one board director.

February 16, 2007 - Banking Technology

The Depository Trust & Clearing Corporation, Wall Street’s post-trade processing engine, has gone live with Norkom’s software as part of its programme against financial crime and money laundering.

The software monitors trades, automatically issuing alerts to the DTCC’s investigations and compliance team when it identifies suspicious transactions that fall outside of normal parameters.

February 15, 2007 - Finextra

The US Depository Trust & Clearing Corporation (DTCC) has implemented anti-money laundering software from Norkom Technologies which it is using to monitor trades passing through the utility for suspicious and fraudulent activity.

January 26, 2007 - Banking Technology

Benelux banking group Fortis has implemented Norkom’s new risk-based customer due diligence technology to comply with worldwide Know Your Customer regulations. CDD spans the lifecycle of a customer, continually monitoring their initial risk assessment to ensure it remains valid in light of additional transactional and behavioural information.