EastNets joins Refinitiv on fight against money laundering

Global provider of compliance and payment solutions EastNets and financial markets data specialists Refinitiv have teamed up to boost each others real-time risk management and compliance capabilities.

Combining data with automated compliance and payment solutions will provide firms at risk of financial crime with more resources to combat it. 

Refinitiv’s Risk Intelligence data will be integrated into EastNets’ technology, including its en.SafeWatch Filtering (SWF) machine learning solution.

EastNets CEO, Hazem Mulhim, said: “The agreement between EastNets and Refinitiv allows our clients to obtain the most effective AML, anti-fraud and compliance coverage on the market.

“Combining the strengths of EastNets’ en.SafeWatch Filtering with a connectivity to World-Check from Refinitiv delivers heightened protection against contemporary fraud and regulatory risks”.

According to a recent report from Refinitiv, 72% of global companies have fallen prey to financial crimes such as money-laundering. 

The two companies view the fight against fraudsters as more beneficial with a ‘coordinated approach’ that will deliver joint services to customers in over 190 countries. 

Phil Cotter, managing director of the Risk business at Refinitiv added: “We’re pleased to welcome EastNets to our partnership network which aims to offer customers innovative solutions to help streamline compliance processes and meet their regulatory obligations around the world. 

“Businesses exposed to financial crime threats must maximise their use of technology and collaborations such as this could prove key to realising the potential of innovation to uncover criminal activity.”