14/02/2013For the first time in the region the SafeWatch Profiling (a component of Anti-Money Laundering Solutions) system is expected to be implemented at PASHA Bank, a leading corporate and investment bank in Azerbaijan. The system will be used to address analytical tasks related to anti-money-laundering operations, including the establishment of client profiles, monitoring of client transactions and receipt of reports on displayed parameters. This modular solution, supporting the possibility of integration with different banking applications, will combine all data within one registry, enabling the complex analysis of all potential risks.
Mr. Anar Karimov, head of Compliance at PASHA Bank, commented, "PASHA Bank had meetings with representatives of EastNets, the developer of the system and with ProFIX, the distributors in CIS at the end of 2012. The respective agreement on licensing and integration of the SafeWatch Profiling system was signed between parties on 27th December. The deployment of the system is tentatively planned for the end of the second quarter in 2013.
At the end of 2011, PASHA Bank became the first bank in Azerbaijan to implement advanced SafeWatch Filtering solutions within the framework of international and national anti-money laundering legislations. The programme is performing online filtration of data, transactions and files containing the data coinciding with the international "black list" records."