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Israel Adopts Anti-Money Laundering Software to Combat Financial Crimes

In a bid to combat financial crimes, Israel has adopted anti-money laundering (AML) software solutions from Oracle Financial Services. The software is designed to help financial institutions in the country strengthen their AML and know-your-customer (KYC) compliance programs.

Industry Expert Insights

According to industry experts, money laundering remains a significant threat to the stability of the global financial system, and it’s essential for countries like Israel to adopt robust measures to prevent such crimes. The Oracle Financial Crime and Compliance Management solution suite is recognized as a Technology Leader in anti-money laundering, KYC, and watchlist and sanctions monitoring by Quadrant Knowledge Solutions.

Advanced Technologies

The software uses advanced technologies such as artificial intelligence (AI), machine learning (ML), and graph analytics to help banks and financial institutions detect and prevent money laundering activities. It also enables them to stay compliant with regulatory requirements and global standards.

Oracle’s Commitment

“We are proud to be a part of Israel’s efforts to combat financial crimes,” said [Name], Vice President, Oracle Financial Services. “Our AML solution suite is designed to help financial institutions in the country strengthen their compliance programs and protect their customers from money laundering activities.”

Enhancing Security and Stability

The adoption of the AML software is seen as a significant step towards enhancing the security and stability of Israel’s financial system. It also underscores the country’s commitment to combating financial crimes and promoting transparency in its financial transactions.

Recognition and Additional Insights

Oracle Financial Crime and Compliance Management solution suite has been recognized for its technology excellence and customer impact. It was awarded the “Best Solution for Managing Financial Crime” by RegTech Insight Awards Europe 2023, and Oracle and VPBank were recognized for Outstanding AML Programme Implementation by the Regulation Asia Awards for Excellence 2022.

Additional Resources

For additional insights on AML and financial crime prevention, please download our e-books and attend our webinars.