Today, financial institutions are under increasing pressure to be more proactive in detecting and combating financial crime. In response to the worldwide increase in terrorist activity, the Financial Action Task Force on Money Laundering (FATF) — an inter-governmental body founded in 1989 — has issued an updated set of recommendations for dealing with this global phenomenon.

Many countries are now incorporating these recommendations into legislation, and imposing stricter compliance obligations on banks and other transacting institutions. In order to meet these standards, companies are having to direct more money and resources towards the complex business of detecting and investigating suspicious activity.

NGX can provide the software and the advice that enable financial companies of all types to successfully curb money laundering and fraud, so that they can get on with their real business — serving their customers.