Southeast Bank Limited launched a fully automated Sanctions Screening Solution to monitor and counter Money Laundering and Terrorist Financing-related threats. The formal inauguration ceremony was held Sunday at the bank's head office at Dilkusha in the city. Shahid Hossain, Managing Director of the bank formally launched the live deployment of the solution in presence of representatives of bank's foreign correspondents.

Southeast Bank Limited launched a fully automated Sanctions Screening Solution to monitor and counter Money Laundering and Terrorist Financing-related threats. The formal inauguration ceremony was held Sunday at the bank's head office at Dilkusha in the city, said a press release.

Shahid Hossain, Managing Director of the Bank formally launched the live deployment of the solution in presence of representatives of Bank's foreign correspondents. In his address of welcome, he highlighted the Bank's AML and CFT policies and its commitment to remain compliant towards fulfilment of regulatory requirements.

Muhammad Shahjahan, the Deputy Managing Director and CAMLCO of the bank reiterated the Managing Director's note and cited different measures taken by the bank to ensure the compliances.   

This Screening Solution was procured from SWIFT, the global market leader in providing ICT solutions and is considered to be the most resilient in the domain of transaction screening. This solution will scrutinize all the in-bound and out-bound SWIFT messages against sanction lists provided by UN, EU, OFAC, AUSTRAC etc. Through deployment of this automated Sanction Screening Solution, the bank will be better-positioned to protect its banking channel from being used by any criminal or unscrupulous persons for money laundering and financing of terrorism

Among others, the Deputy Managing Director and Chief Risk Officer, S.M. Mainuddin Chowdhury, Senior Vice President Shamim Ara Khanom, Vice President and Deputy Head of IT Khandaker Khaled Hassan, Senior Assistant Vice President and Chief Financial officer Mohammad Aminul Haque, Senior Assistant Vice President and Head of Treasury Md. Jahangir Kabir and other Executives of Head Office were present in the ceremony. Representatives from Citi NA, JP Morgan, Wells Fargo, Commerz AG, Mashreq PSc also attended.