Fiserv introduces new AML compliance solution for the Casino and Gaming Industry
AML Risk Manager for Casinos helps manage the complex process of AML compliance for casinos and other gaming organizations
BROOKFIELD, WI (September 15, 2015) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today the introduction of AML Risk Manager for Casinos. This is the newest solution in the Compliance and Fraud Management portfolio from Fiserv and provides risk monitoring and anti-money laundering (AML) compliance intended for the casino industry.
With a clear responsibility to keep financial crime out of gambling, casino operators need to respond quickly to evolving regulatory demands and reevaluate their approach to their AML programs and processes. Many governments have ramped up scrutiny of casinos and are now levying large fines against any that fail to comply. Some announced fines have been as high as US$75 million.
“To operate in the casino industry today, it is essential that organizations implement comprehensive AML compliance solutions to protect themselves and their patrons,” said Tim Grace, senior vice president and general manager, Financial & Risk Management Solutions, Fiserv. “AML Risk Manager for Casinos offers the industry a new generation of money laundering monitoring, reporting and analytics that helps casinos adapt to evolving AML risks and regulations with superior efficiency and insight.”
AML Risk Manager for Casinos offers new predictive analytics and visualization for suspicious activity detection, behavioral profiling of patrons and patron financial activity, the ability to quantify risk mitigation through investigation, and alert and case management. In addition, award-winning configurability means compliance teams are controlling the system and can adjust it to suit their evolving program needs. AML Risk Manager for Casinos can also automatically generate regulatory reports, such as suspicious transaction reports (STRs) and suspicious activity reports (SARs).
Grace added, “With over thirty years’ experience in the financial services sector, Fiserv has the compliance expertise and award-winning solutions that can provide the casino industry with the necessary tools to manage their AML compliance. Regulators and analysts across the globe are familiar with the AML Risk Manager solution from Fiserv and affirm our commitment to ongoing development that keeps the solution current with regulatory demands.”
Additional Resources:
AML Risk Manager for Casinos – http://www.financialcrimerisk.fiserv.com/casinos.aspx
Fiserv sponsored webinar on AML risk management for casinos – http://www.acams.org/free-webinar-library/
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.
