AMLO to bring SAS technology to help track suspicious transactions

BANGKOK, Jan 15 (TNA) -- The Anti-Money Laundering Office (AMLO) has planned to use a world-class technology, the same on used by the Federal Reserve Bank of New York, to inspect suspicious financial transactions in the country. Secretary-general of AMLO Pol Col Seehanat Prayoonrat said the cooperation between AMLO and SAS Software (Thailand) Co, Ltd in using the world-class technology, SAS, to evaluate financial transactions in the country to prevent money-laundering operations. He said the technology would help to increase the amount of information and information analysis efficiency, as SAS is an intelligent IT grid computer, capable of correctly summarising and tracking suspicious financial transactions. He stressed that SAS is well received by the world financial sector and is being used by over 150 international financial institutions around the world, such as the New York FED and the UK's Financial Management Office. The AMLO secretary-general said each month, his office would receive over 1.5 financial transactions and suspicious transactions are numbering in the thousands. From the year 2000 until present, there are 80 million transactions completed in Thailand, which require a high efficiency technology to connect each of the information together, which the SAS technology could efficiently sort out the information system and signal a warning on suspicious transactions. He added that SAS would be able to complete all analysis within a period of 1-2 days, which is much faster than the old system which would complete the same task within 1-2 weeks. The SAS technology is purchased under a budget of 120 million baht for a contract of 3 years. (TNA)