FircoSoft Suite Gains Orders in the Middle East
FircoSoft has announced a number of new customers in the Middle East through its partner Allied Engineering Group (AEG), based in Lebanon. Reinforced regulations on illegal trafficking to fight money laundering and terrorist financing put strong pressure on financial institutions in the Middle East, where banks, insurances and brokers keep improving compliance with international AML regulations. AEG and FircoSoft joined forces to offer OFAC-Agent Suite, a watchlist filtering solution, to Middle East financial institutions. The suite is designed to remove the risk of processing illegal transactions and detects high-risk financial customers, with real-time transaction filtering and customer information file filtering. With AEG, the suite has seen 14 deployments in 14 months.