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Banker's Toolbox, Inc., the leader in Bank Secrecy Act anti-money laundering compliance solutions, has launched innovative business intelligence software called Relationship Manager. Relationship Manager is a revolutionary tool that can utilize an institution's investment in BSA/AML transaction monitoring to address the challenges of cross-sell and retention. It scans an institution's transactional data to detect patterns that indicate cross-sell or retention opportunities as they occur, giving financial institutions a competitive advantage. (Read more.)

OFAC targets ISIL financing and support

Treasury’s Office of Foreign Assets Control (OFAC) has acted to disrupt the Islamic State of Iraq and the Levant’s (ISIL) global fundraising and support network by designating four individuals – Neil Christopher Prakash, Khaled Sharrouf, Bachrumsyah Mennor Usman, and Oman Rochman – as Specially Designated Global Terrorists (SDGTs) pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism. The individuals designated today include ISIL members based in Iraq, Syria, and Indonesia who are involved in ISIL’s propaganda, recruitment, and support networks in Southeast Asia and Australia. As a result of these actions, all property and interests in property of Prakash, Sharrouf, Usman, and Rochman subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.

OFAC also announced that the State Department has designated Jamaah Ansharut Daulah (JAD) and Alexanda Amon Kotey pursuant to E.O. 13224. JAD is a terrorist group based in Indonesia that was formed in 2015 and is composed of almost two dozen Indonesian extremist groups that pledged allegiance to ISIL leader Abu Bakr al-Baghdadi. Kotey, a British national, is one of four members of the ISIL execution cell known as “The Beatles.”

For links and further information, see our OFAC Update.

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