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Article: Financial Institutions Must Accelerate Watch List Management Processes, Says Norkom Technologies.
- Article from:
- PR Newswire
- Article date:
- July 31, 2008
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Copyright informationCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Whitepaper Outlines Strategies to Improve Monitoring of Watch Lists of Suspects and Politically Exposed Persons (PEPs)
BOSTON, July 31 /PRNewswire-FirstCall/ -- Recent research conducted by Norkom Technologies reveals that, while the costs associated with watch list management continue to rise, most financial services organizations are struggling to meet their regulatory obligations and are ill-prepared to monitor suspected terrorist activity in times of crisis.
This was evidenced when, after a foiled terrorist attack in 2006, the UK government asked institutions to search their global operations for 17 named suspects. For most, the process took over three weeks. Yet, ...