IPTMA empowers banks to benefit from increased security checks in regard to regulated entities. Gilante can collate, distribute and record extensive searches from original payee to the end beneficiary. Banks also have access to information on regulated entity policies and external audit reports.
‘In line with international laws to combat terrorism funding and money-laundering we have to know where the money has come from and where it is going. When dealing with remittance agents we don’t always know who their customers are and we don’t know where all the money is going to.’ – Australian Bankers Association CEO Steven Munchenberg, 16th November 2015
IPTMA provides bankss with a tool to manage the reputation and transactional risk associated with high AML/CTF/PEP risk clients. Risk can only be managed when it is visible and a complete view of all the facts are available. Gilante provides the tools to do exactly that.