America's Community Bankers Selects Banker's Toolbox as Preferred Solution Provider of AML Detection and Reporting Systems.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- ACB ACB American Council of the Blind ACB Asia Commercial Bank ACB America's Community Bankers ACB Adjusted Cost Base ACB Alliance for the Chesapeake Bay ACB Amphibious Construction Battalion (US Navy) ACB Australian Cricket Board officially endorses Banker's Toolbox' automated AML AML - A Manufacturing Language solution because of focus on community banks and their high level of customer service and customer satisfaction America's Community Bankers has selected Banker's Toolbox, Inc., a provider of enterprise software solutions designed to increase operational efficiencies, as its Preferred Solution Provider for anti-money laundering (AML) detection and reporting systems. The announcement was made at the ACB's recent National Operations, Security and Technology Conference & Marketplace. The Bank Secrecy Act The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires U.S.A. financial institutions to assist U.S. government agencies to detect and prevent money laundering. Anti-Money Laundering Management System, or BAM Bam (bäm), town (1996 pop. 70,100), Kerman prov., SE Iran, on the intermittent Bam River. Located on the western edge of the Dasht-e Lut, Bam is a trade center in a henna-growing region. Dates and other fruits are also grown; camels are raised. , is Banker's Toolbox' complete end-to-end software system that provides solutions for researching, analyzing, identifying, documenting and reporting suspicious customer transactions. The application aggregates, compiles, stores, and analyzes data to identify high-risk accounts and activities for easy monitoring. It also helps identify suspicious activities and prepares and electronically files Suspicious Activity Reports - all within a single interface. "America's Community Bankers selected Banker's Toolbox as our Preferred Solutions Provider of AML solutions based on the company's high levels of customer service coupled with a solution that is specifically designed to handle the unique needs of community bankers," said Diane Casey-Landry, ACB president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We are honored to be given this designation by such a reputable organization," said Daniel Cho, founder and CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of Banker's Toolbox, Inc. "With BAM, community bankers are equipped with the tools necessary to proactively comply with the AML requirements of the USA PATRIOT Act USA PATRIOT Act [Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorists], 2001, U.S. . Banker's Toolbox designed BAM with the community banker in mind, and we look forward to working closely with America's Community Bankers to enable member banks to identify and successfully mitigate money laundering The process of taking the proceeds of criminal activity and making them appear legal. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. ." About Banker's Toolbox, Inc. Founded in 2000 and headquartered in Los Angeles, Banker's Toolbox, Inc., specializes in providing enterprise software solutions designed to increase operational efficiencies, improve customer satisfaction and enhance internal controls for community and regional banks. Banker's Toolbox' line of software systems consists of solutions for money laundering detection and reporting, wire processing automation, employee training and testing and customer account summary notification. The company's unique employee roster of seasoned bankers and information technology consultants specializes in designing, developing, installing and implementing information management and communications tools that are customized for the banking industry. Additional information about Banker's Toolbox is available via the company's Web site at www.bankerstoolbox.com. About America's Community Bankers America's Community Bankers is the member driven national trade association representing community banks that pursue progressive, entrepreneurial and service-oriented strategies to benefit their customers and communities. To learn more about ACB, visit www.AmericasCommunityBankers.com. |
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