T.C. Ziraat Bankasi A.S., the largest and oldest bank in Turkey, has engaged Thomson Reuters Governance, Risk and Compliance (accelus.thomsonreuters.com) to strengthen its anti-money laundering and customer screening processes. T.C. Ziraat Bankasi A.S. is Turkey’s leading bank with more than 20,000 employees and 1,247 branches worldwide.
Ziraat 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 currently 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.
“Ziraat is delighted to be working with Thomson Reuters as a trusted partner in delivering comprehensive screening data that will deliver the best level of protection to our business,” said Cem Tahir Berik, head of compliance at Ziraat. “It gives us the scope to follow international best standards in terms of our sanctions, enforcement and AML policy, and will enable us to respond quickly and effectively in line with risk.”
“We selected the Accelus product as we believe it is best of breed,” continued Berik, “providing us with the best service and the most comprehensive and accurate data available.”
“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 as well as their reputation, and to respond appropriately to the risks presented to their business,” said Leas Bachatene, Thomson Reuters Governance, Risk and Compliance vice president and managing director for Middle East, Africa and Asia. “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 manage their risk exposure and accelerate their business at every step.”
