New AML software developed to track and control criminals

Training is being provided to Financial Intelligence Service staffs on the use of the software.

Financial Intelligence Service in coordination with Information Network Security Administration /INSA/ developed new software system to track and control criminals involved in money laundering and terrorist financing.

The software known as Anti-money laundering software is widely used in developed countries to track and control money laundering and terrorist financing crimes. Similarly, the Anti-money Laundering Software (AML-software) developed by local experts can significantly change and improve the existing software being used Financial Intelligence Service for last years.

Intelligence system team leader at INSA and the software development project technical manager Mr. Kirubel Wondaferaw explained that his organization has been working for years to develop this software system. He added that this software has been developed based on international experiences, including new technologies. The software used in tracking criminals with limited human intervention and automatically analyses the data that enters into the system from various sources.

Financial Crimes Analysis Team Leader at Financial Intelligence Service Mr. Yonas Mamo says this software enables the integrated tracking and controlling of money laundering and terrorism financing crimes. He added also that the software gives roles for the employees at different levels in carrying out their responsibilities.

As tracking and identifying criminal activities and criminals related with money laundering and financing of terrorism requires a number of link analysis, this software is used for fast tracking and link analysis of different data increasing effectiveness in the fight against money laundering and financing of terrorism according to the team leader. It also allows identifying individuals, organizations and masterminds of different crimes.