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ZENITH BANK PLC, a leading West African Bank based in Lagos, has selected ACI Proactive Risk Manager[TM] software to automate its procedures in order to comply with the national Money Laundering Prohibition Act of 2004.
The new software will detect suspicious activities using neural networks, rules-based strategies and workflow management systems. The solution is modular in design so it can be expanded to include monitoring for issuer fraud and managing risk across the enterprise, with an account-based view of transactions.
Nigeria's Economic & Financial Crimes Commission (EFCC) and its enforcement arm, the Nigerian Financial Intelligence Unit (NFIA), have …