As financial institutions grow their e-business capabilities globally, the threat of fraud and money laundering continues to increase. For the first unprecedented time in the UAE, Raqmiyat has introduced the new Unisys e-@ction Anti-Money Laundering Solution which enables financial institutions to identify and monitor potential fraud and money laundering transactions to a level of accuracy and detail that is unattainable in a manual environment. Through the consistent and sophisticated use of customer data, the Unisys Anti-Money Laundering (UAML) solution builds both customer and transactional profiles - individually and generically - against which future transactions can be compared and suspect ones called out.

UAML is not designed to turn bankers into policemen -- neither the bankers or police want that. Rather it is intended to direct the normally limited compliance resources within an organization to the most suspicious transactions.

The Unisys Anti-Money Laundering solution highlights those transactions that its rules consider suspicious. The financial organization then decides whether the transaction, customer, or account should be investigated, and determines what action to take. Decisions are always made by humans, not by a software program.

The Unisys Anti-Money Laundering Solution:

• Identifies and prioritizes suspicious financial transactions.

• Reflects international best-of-practice compliance standards.

• Directs compliance efforts to where they are most needed.

• Features a full audit history of who does what and when.

• Is free-standing, fully scalable, and configurable to work with any system.

• Can be continually updated via a dedicated web site.

• Leaves the financial institution in control.

Keeping in line with the concerns of the regulatory authorities of the region, and in particular the directives of the UAE Central Bank, we believe that the time is right for the UAE banking community to have systems like UAML in place to help minimize money laundering.