Ziraat Bank Re-enforces Commitment to Secure Transactions

LONDON, Sept. 28, 2011 – Turkey’s largest bank has strengthened its anti-money laundering and customer screening processes after signing a three year deal with the Thomson Reuters Governance, Risk and Compliance business.
As part of the deal, T. C. Ziraat Bankasi A.S. has integrated the Screening Data Feed from the Thomson Reuters Accelus suite of solutions into its Anti-Money Laundering banking systems. This data, used to screen the bank’s potential customers, includes restricted, sanctioned and prohibited people and entities, as well as individuals deemed as ‘Politically Exposed Persons’ (PEP).

Although PEP screening is not a legal requirement in Turkey there is a growing trend for companies in the region to adopt the technology, as banks globally look to establish and maintain best practice Anti-Money Laundering processes across their operations.
Mr. Tahir Cem Berik, Head of Compliance at Ziraat Bank says: “Operating in 18 countries, Ziraat Bank is decisive in combating terrorist financing and money laundering in all its branches and subsidiaries. We are delighted to be working with Thomson Reuters which offers comprehensive screening data for best level of protection. It gives us the scope to follow international best standards in terms of our AML/CTF policy and will enable us to respond quickly and effectively to potential risks.”

“We selected the Accelus product as we believe that it will provide us with the best service and the most comprehensive and accurate data available.”

Leas Bachatene, Thomson Reuters Governance, Risk and Compliance Vice President and Managing Director for Middle East, Africa and Asia says: “With increased global regulatory focus on AML and counter-terrorist practices together with a rapidly changing regulatory and political landscape, it is vital for our customers to be able to protect their businesses, protect their reputation and to respond appropriately to the risks presented to their business. Thomson Reuters Accelus lets them do this, establishing the dynamic connections they need between the external regulatory drivers and data, and their own internal business operations - helping them to manage their risk exposure and accelerate their business at every step.”