Wolters Kluwer Financial Services

Press Release

Wolters Kluwer Financial Services Introduces Bank Secrecy Act and Anti-Money Laundering Regulatory Consulting Service
Service Now Available to Help Financial Institutions Meet Compliance Requirements

Waltham, Mass. – June 20, 2007 - Wolters Kluwer Financial Services, through its line of PCi compliance analytics solutions, announced today a new regulatory consulting service designed to help community and regional banks and credit unions comply with Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements.

In today’s heightened regulatory enforcement environment, financial institutions are challenged to develop compliant and cost effective BSA/AML programs. In 2006, financial institutions filed over one million suspicious activity reports (SARs). Compliance departments are struggling to manage the costs associated with an effective BSA/AML program, which has been made increasingly difficult due to an industry-wide shortage of compliance professionals with deep BSA/AML experience.

Now financial institutions can leverage Wolters Kluwer Financial Services’ consulting team of former bankers, regulators and Association of Certified Anti-Money Laundering Specialists, with over 60 years of combined regulatory experience to help ensure compliance with BSA and AML requirements.

This new service offers financial institutions consulting services that support the key elements of a successful BSA/AML compliance program, including:

  • Independent testing to meet regulatory requirements
  • Institutional and customer risk assessments
  • Suspicious case investigations training, process review and outsourcing
  • “Look-back” investigation analysis
  • Ongoing regulatory training

“Community, regional banks and credit unions are feeling the pressure from regulators to strengthen their BSA/AML compliance programs.” said Kurt Sames, senior director of Consulting and Professional Services for Wolters Kluwer Financial Services. “The costs of acquiring and developing this expertise is often cost prohibitive. We are providing an efficient and effective alternative to help financial institutions meet their regulatory obligations. Our rich industry insight and knowledgeable consultants put us in a strong position to serve the institution’s compliance needs.”

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GulfPak, GainsKeeper®, CCH® Capital Changes, NILS INSource®, AuthenticWeb™ and CCH Wall Street.

Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com.

Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2006) of €3.7 billion, employs approximately 19,900 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.


Quick Links Media Contacts

Jennifer Marso
Director of Corporate
Communications for Wolters Kluwer
Financial Services
612.852.7912
Email Jennifer

Charles Miller
Senior Public Relations Specialist
Banking, Mortgage, and Credit Unions
320.240.5457
Email Charles

Angela Peterson
Senior Public Relations Specialist
Securities, Insurance, and Indirect Lending
612.656.7745
Email Angela