INCREASING LEGAL DEMANDS FOR IDENTITY VERIFICATION SPAWNS ANTI-MONEY LAUNDERING TECHNOLOGY SUBSECTOR
November 1st, 2007
BY ANDREW CAVE
TECHNOLOGY generates more technology. Only a decade ago, the Internet had only just come into commercial use and many companies still didn't have websites.
Before then, money launderers got along fine without internet frauds perpetrated through email and websites and the anti-money laundering industry had to manage without software devoted to online identity verification.
Now, the development of money laundering into a global electronic effort that penetrates not only cyberspace, but the real-time systems of multinational banks and financial ...
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