PASHA Bank, one of Azerbaijan’s largest banks, has become the first bank in the CIS region to implement EastNets’ Anti-Money Laundering (AML) solutions.
EastNets’ AML solutions, provided in cooperation with the Financial Services Bureau, comprises en.SafeWatch Filtering and its behavioural monitoring solution en.SafeWatch Profiling. These solutions will allow PASHA Bank to integrate cross-channel generated data, including external sources of data, and to analyse and visualise threats through link analysis. Farid Akhundov, CEO of PASHA Bank, said: "We are proud to be the first bank in the CIS to implement some of the measures that help to combat money laundering and other financial crime. Our integrity and good reputation are amongst our most treasured assets.
“SafeWatch Filtering and SafeWatch Profiling solutions will allow us, as one of Azerbaijan’s leading financial organisations, to ensure that we are fully complying with international anti-money laundering policies. With this new system, we will be able to more easily compare relevant data with so-called "black lists" and place barriers on suspicious transactions according to lists from OFAC, the UN, the EU, the Bank of England and SECO. We carry out complex analysis of all potential risks in real time, which is for the protection of our customers’ interests, and EastNets’ AML solutions will enable us to do this even more effectively."