NEW YORK, and DUBAI, United Arab Emirates, December 9 /PRNewswire/ --

- New Fortent AML 6.0 release enhances investigation and correspondent banking features

Fortent has released a new version of the company's market-leading anti-money laundering technology, the company announced today at the Middle East-North Africa International Money Laundering/Terrorist Financing Conference & Exhibition, hosted in Dubai by the Association of Certified Anti-Money Laundering Specialists (ACAMS) and the Union of Arab Banks.

The latest offering in Fortent's financial crime product suite, AML 6.0 targets growing areas of concern for financial institutions - correspondent banking risk and tougher "Know Your Customer" requirements imposed by regulators. As Middle Eastern financial centers play an increasing role in the global marketplace - from private equity to stock exchanges - the region's banks are implementing more rigorous anti-money laundering programs throughout their operations.

Fortent AML 6.0 streamlines the financial crime investigation process and provides deeper profiling of correspondent banking accounts, allowing organizations to better comply with international and local regulatory standards and reduce the risk of enforcement penalties. For clients in the Middle East, Fortent AML displays Arabic data in addition to English.

More efficient alert investigation

"This next generation Fortent application represents a major leap forward in compliance technology and the ability to fight financial crime," says George Faux, Group Executive, Client Relationship Management, at Fortent. "As banks in the Middle East make rapid strides to ramp up their anti-money laundering operations, they are seeking the most advanced solutions available on the market.

"With AML 6.0, Fortent customers will see significant payoff in several areas, including a whole new level of efficiency in the alert investigation process. Organizations are increasingly concerned about the resources absorbed by investigations, and the new set of tools in Fortent AML maximizes the efficiency in this area, saving clients time and money."

New tools for correspondent banking

Responding to heightened regulatory interest in correspondent banking, Fortent has significantly enhanced the monitoring of correspondent banking accounts around the world. With U.S. and international policy-makers - such as the Financial Action Task Force (FATF) and the European Union - imposing tougher "Know Your Customer" standards for banks, the latest version of Fortent AML automatically drills down to collect and organize more granular information about individual parties to transactions, making the process transparent.

"Our new correspondent banking features meet increasing regulatory expectations and create efficiencies across multiple lines of business, including compliance departments, allowing banks to more accurately assess their risk," observes Mr. Faux. "Instead of time spent on manual data-mining to gather individual party information, our customers will have an automated process that learns as it works and continually develops profiles that identify previously unknown risks."

In operation at tens of thousands of branches worldwide, Fortent AML is recognized as "best-in-class" by the American Bankers Association. Its system is known throughout the industry for:

-- Up to 15% case-worthy alerts versus the industry standard of 1% -- Providing a lower total cost of ownership and an increased return on compliance technology investment -- Producing the fewest false positives through unique profiling technology

"Money laundering is a global challenge and transcends country borders," remarks Mr. Faux. "Financial institutions operate in a global market, but need to have solutions in local languages to meet local conditions.

"With this Dubai conference and an ongoing program to enhance our offerings to Middle East clients, Fortent is committed to meeting the needs of the region's financial institutions here and wherever they operate."

Fortent will conduct demonstrations of Fortent AML and Fortent KYC systems at the Fortent booth at the Middle East-North Africa International Money Laundering/Terrorist Financing Conference & Exhibition in Dubai on December 9, 10, and 11.

If you would like more information about Fortent AML 6.0 or Fortent's other risk and compliance solutions, please contact Suzanne Oaks or Rimjhim Dey of Temin and Company at +1-212-588-8788 or

About Fortent

Fortent provides risk and compliance solutions to financial institutions, government agencies, and individuals in more than 100 countries. It has relationships with more than 400 institutional clients, including 26 of the world's 30 largest financial firms, which use Fortent technology in over 50,000 locations worldwide.

Fortent combines technology innovation and expertise in regulatory risk to help financial institutions improve productivity and protect hundreds of million accounts from money laundering, terrorist financing, and other financial crimes. Endorsed by the American Bankers Association as the industry gold standard, Fortent's advanced systems deliver the most efficient and effective anti-money laundering, know your customer, and fraud detection available on the market today. Technology clients include The Bank of New York, Bank of Tokyo Mitsubishi-UFJ, Barclays, JPMorgan Chase, Justice Federal Credit Union (U.S. Department of Justice), Lloyds TSB, The Royal Bank of Scotland, Scotiabank, Societe Generale and UBS.

Through its information and training businesses, Fortent serves as an authoritative source of regulatory information, news, and guidance. Alert Global Media publishes and Money Laundering Alert, and, in Spanish, It also produces the world's largest money laundering conference and exhibition. Other services include the industry's leading professional certification program, career planning tools, web seminars, and conferences in the U.S., Europe, Latin America, and the Middle East.

Fortent's global team operates from key offices in New York, Miami, Atlanta, London, and Tokyo. For further information, visit

CONTACT: Suzanne Oaks or Rimjhim Dey of Temin and Company, +1-212-588-8788, or, for Fortent.

Web site:

Suzanne Oaks or Rimjhim Dey of Temin and Company, +1-212-588-8788, or, for Fortent