UK-based Route Trading is to unveil MoneyRouter – a solution designed to tackle the problem of “illicit money transfers taking place” in London.
Launching on 27 September, Route Trading says the new software enables banks to reduce the risks involved in home remittance. MoneyRouter finally brings a much needed measure of risk governing to both banks and money service businesses (MSBs), with its proactive and effective solution to the growing problem of illicit money transfers taking place in the Capital.
The firm says the solution can “strengthen the safety of global payments, allowing financial institutions to set their own parameters in accordance with money laundering and terrorism financing regulations, but it will also drastically decrease the banks potential vulnerability to threat”.
MoneyRouter features real-time processing and the system can issue a warning signal prior to the authorisation of a transaction. The solution offers “instant” end-to-end, identity verification system checks both on the company and the individuals involved in a money transfer against the “most up-to-date” compliance databases, allowing banks to approve only the transactions that meet the standards they set.
This event will apply to those working in Banks & AML regulatory enforcement agencies such as Government Financial Intelligence Units
LexisNexis Risk Solutions
Senior Business Development Executive