1 Mart 2009 Pazar

High Flow Range Mass Coriolis Flow Meter

Ideal for the measurement of flow, density and temperature of liquids and slurries, such as aggressive or contaminated, sanitary or particle-filled fluids.


Flow ranges from 60 to
60K Kg/Hr (2.2 to 1650 lb/min)
Accuracy up to 0.25% of reading
Materials: flow tubes -
316 L, splitter flanges -
316 Ti, housing - cast iron
Process temperature
-40°F to 356°F
Ambient temperature
-40°F to 140°F
Wide flow ranges
This meter has the ability to
maintain high accuracy,
despite changing viscosity conditions, with accuracy of +0.25% of reading.

The ACM series has smooth stainless steel tubes and no moving parts, and is therefore very easy to flush and clean.

The ACM series of mass coriolis flow meters measure flow, density and temperature.

Because of the meter's 316 stainless steel flow tubes, the ACM series can measure a wide range of materials.

Electronics available for the ACM series include a local, hazardous rated display and a remote, panel-mount digital display.

22 Şubat 2009 Pazar


As technology makes life richer and easier, we leave a trail of information that is susceptible to prying eyes

Within the next four months, a major Bay Area supermarket chain plans to introduce a payment system that uses biometric fingerprint authentication to verify customers' identities. Under this system, shoppers in checkout lines won't need to use cash, checks, debit cards or credit cards. Instead, they can place their fingers on scanners that read fingerprints, and once the device links to their bank or credit card accounts, they can buy groceries, get cash back and do everything else shoppers do.


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More Opinion
Clinton first looks east 02.21.09
Terrorism as a crime 02.21.09
Past the point of no return 02.20.09
The end of a budget battle 02.20.09
<_script /><_script />


[Podcast: Insight Editor Jim Finefrock and reporter Jonathan Curiel talk about how Americans might as well face up the fact that there is little privacy left.]

The system is already used in cities around the United States, including Portland, Ore., and Chicago, where one shopper says it has changed his life for the better. Linc Thelen, a 37-year-old interior designer, says the fingerprint system -- known commercially as Pay By Touch -- is convenient to use and expedites his way through grocery lines at Jewel-Osco, where he shops. Thelen says the system lets people leave their wallets behind, so they don't have to worry about being robbed or losing their credit cards.

"I had no reservation," Thelen said in a phone interview. "It's a safe way to store information."

But no system is 100 percent foolproof.

Despite the fact that armed men guard the computers that store the customers' virtual fingerprints, despite the fact that Bank of America's former security chief now heads Pay By Touch's security division, and despite the fact that Pay By Touch hires people to try to expose vulnerabilities in its computer system (so those vulnerabilities can be eliminated), Pay By Touch President John Morris acknowledges that "it's not impossible" for computer hackers to figure out how to tamper with its information.

And therein lies one of the 21st century's most vexing problems: More and more of our personal data are captured and stored by corporate and government interests, and are potentially available to anyone with the technological, legal or financial means to access that information.

Whether it's phone calls we make, library books we check out, CDs we buy on the Internet or divorces we finalize in court, we leave a trail of information that becomes susceptible to prying eyes. For the price of a bus pass, you can pay a company to supply anyone's address, phone number, political affiliation, estimated income and property history. For $20 more, you can find out if that person is married or divorced, has a criminal record, and what sort of jobs he or she has worked.

Sen. Hillary Clinton, D-N.Y., says she will introduce a "privacy bill of rights" because identity theft and security failures of personal records have become "one of the most important issues facing us as individuals and as a nation."

The availability of personal information -- downloadable onto laptop computers, which are increasingly being fitted with fingerprint technology -- is changing the culture in ways that may seem trivial but are really benchmarks for a new society already in its formative stages.

A small example: Unbeknownst to the men who date her, Judy runs background checks on all of them, using a private investigator to dig out any "red flags" that would presage troubling behavior. A businesswoman in Southern California, Judy, 50, uses a company called DateSmart, whose client base has boomed in the past five years as more people confront the perils of online dating.

"I'm glad the information is out there," says Judy, who did not want her last name used because of concerns her suitors would read this article. "The men I'm talking to online are complete strangers. And I have absolutely no knowledge of their character other than what they're saying in their profiles. I need to feel comfortable knowing that they're not an ax murderer. The people you meet might be well dressed, but you never know if they have any criminal history. It's for (my) safety."

Background checks are nothing new. What's changed are the speed with which you can obtain them, their relatively small price (some companies advertise free checks) and their growing public acceptance. The information revolution has transformed the background check into a common and casual tool, and those being scrutinized probably don't have a clue. More obvious are the security cameras embedded in nearly every major American city, including New York, Milwaukee, Chicago, Atlanta, Los Angeles and, yes, San Francisco, where lenses record people's activities in such crime-ridden neighborhoods as Bayview-Hunters Point and the Western Addition. The spread of these cameras is championed by authorities, who say it reduces criminal activity, and criticized by the ACLU, which says the equipment is an unnecessary intrusion into public spaces.

Civil liberties groups have joined the widespread outcry against the government's monitoring of Americans' phone-call records. Two weeks ago in federal court, the ACLU challenged the legal rationale behind the National Security Agency program, arguing that the NSA's actions -- involving "data mining" of records provided by AT&T and other telephone companies -- violate Americans' rights to free speech and privacy as guaranteed under the First and Fourth Amendments. Last week, privacy experts raised questions about the U.S. government's monitoring of international bank transfers -- previously secret data surveillance officials say is justified by the fight against terrorism.

Americans' rights to privacy will be tested even more in the next few years as biometric technology creeps increasingly into everyday arenas. For example, on the campus of UC San Diego, biometric experts are testing a soda machine that uses both fingerprint and face-recognition technology. The machine is in a lounge for grad students in UC San Diego's computer science building.

"The students are very excited about getting it working," Serge Belongie, a UC San Diego associate professor of computer science, says in a phone interview. "People think it's very cool. ... No one uses money. They have accounts. What would be fun is if (the machine) recognizes you and says, 'Would you like your usual?' "

If UC San Diego students are reluctant to use the machine, their privacy concerns are outweighed by convenience -- a sentiment echoed in survey after survey on biometric technology. In March, Unisys Corp. released a report on public perception of "identity management" that said convenience and efficiency were the two biggest reasons consumers would use biometric technology. (The most preferred biometric methods are fingerprints and voice recognition, according to the survey. The least preferred, because of its perceived intrusiveness, is an iris or eye scan.)

Two of the biggest turnoffs for those who shun biometric technology: suspicion of how the technology works and loss of privacy. Among respondents from North America, just 56 percent said they'd be willing to share their fingerprint with a government organization such as a post office or tax authority. Among respondents from the Asia-Pacific region, 71 percent said they'd share their fingerprint with the government.

"As consumer confidence grows in the large-scale usage of (biometric technology) and standards are more generally comfortably adopted, you're going to see a pretty rapid migration" to it, says Mark Cohn, Unisys vice president for homeland security solutions.

Cohn, a principal architect of the Department of Homeland Security's US-VISIT Exit system, which uses fingerprint technology to run background checks on visa applicants and verify their entry to and arrival from the United States, says Malaysia offers a preview of how the United States may change in the coming years.

Since 2001, the Malay government has issued a biometric "multipurpose card" to Malaysians 12 years and older. The card, which features a thumbprint and photograph, acts as a passport, driver's license, ATM card, toll and parking pass, and medical record that lists blood type and any allergies.

The card is convenient to use -- but it's a nightmare for Malaysians who lose it or have it stolen. Crime syndicates in Malaysia have altered cards with different photographs and used them to give members new identities, though the Malay government insists these identity thieves can't access the original cardholders' personal information. Special chip technology and other password features prevent this, they say. Also, the cardholder's fingerprint -- rather than being visible on the card -- is encrypted in the card itself: To reveal the fingerprint, the card must be inserted into a special biometric device that compares the encrypted print with that of the person claiming to be the cardholder.

For anyone who has read Orwell's "Nineteen Eighty-Four," where "telescreens" keep track of people's lives, this new biometric technology will seem like fiction come to life. It's showing up everywhere. By the end of this year, U.S. passport agencies hope to issue "electronic passports" with computer chips that have digital photos of the holders. With the help of face-recognition machines, airport security can compare a photo with the face of the passport holder. For two years, an American corporation, VeriChip, has sold government-approved electronic chips that are inserted under people's skin to give doctors instant access to patients' medical histories.

In 2008, as mandated by the Real ID Act, states plan to issue driver's licenses linked to a database that includes each license holder's photo and Social Security number. These licenses (civil liberties groups call them national identity cards) will likely include a biometric photo of the driver accessible by authorities.

In the meantime, banks are considering using iris scans and even palm scans at ATMs in an effort to cut down on fraud. (In 1999, Bank United in Texas adopted iris-scan technology at three of its ATMs in a test that was discontinued when Washington Mutual took over the bank.)

Some people love the new technology. Others shun it.

Pay By Touch admits it has encountered some resistance among shoppers it approached in supermarkets that already use the company's fingerprint service. But Morris, its president, says many of these customers are quickly won over by the convenience of Pay By Touch, which is free for consumers, and that the company keeps data points based on users' fingerprints, not actual fingerprints. So far, supermarkets in 40 states use the Pay By Touch system.

Pay By Touch, which is based in San Francisco, wouldn't say which Bay Area supermarket chain will start using its fingerprint system in the next four months -- only that the chain will use the system in just a handful of its Bay Area stores. Pay By Touch users sign up voluntarily and are under no obligation to use it at the checkout line.

Pay By Touch says it takes great care to safeguard its users' data. After fingerprints are converted into algorithms, they're encrypted, then stored in IBM computers. Those algorithms can't be reconverted into an exact copy of the fingerprint, though Pay By Touch may eventually store users' actual fingerprints if the technology improves, Morris says. The company insists it will never sell users' personal information or fingerprints to anyone else -- a pledge that's backed up in writing when users sign up with the company. But what if federal authorities, citing national security, insist on the finger scan and payment history of a Pay By Touch user?

Pam Dixon, who heads the World Privacy Forum, a public research group, went to Chicago to warn potential Pay By Touch users about possible dangers.

"It didn't stick," she says. "People were (more) concerned with (convenience than) the potential risks. People can put their thumb on a pad and be done with it. But meanwhile, their biometric data is sitting with another company, a third party, that's subject to subpoena. One argument that I made: Let's say that every supermarket in the country, particularly the large chains, (use) a biometric payment system. It's a law enforcement dream because who needs a biometric database run by the U.S. government when you've got one being run by private companies?"

Citing the recent disclosure by the Veterans Administration, which said a computer with credit information on millions of veterans had been stolen, Dixon says, "The second issue is information security. If the VA can't keep its records secure, which is a government agency that has all sorts of strict controls that are supposed to be in place, how on Earth can a private company without the resources of something like the VA manage to keep something secure? When we have a credit card stolen, we can call the credit card company and say, 'Give me a new number.' But you can't do that with your biometric. You can't say, 'Give me a new fingerprint.' "

Morris dismisses such concerns, saying that Pay By Touch will actually decrease the likelihood that consumers' credit information is stolen or misappropriated. "I think (Pay By Touch users) get pretty rapidly that it's the ultimate way to secure their private data," he says. "It connects (their accounts) to something that's uniquely them, as opposed to handing a credit card over to a stranger or writing a personal check that seven or eight humans touch before it gets in their statement. Securing information by a biometric is a giant leap forward. (Users) like that they don't have to pull their card out anymore. They (tell us they) like that they don't have to carry their (purses or wallets) through the parking lot of an urban supermarket. There's a physical security benefit. Their numbers are never displayed. The safety of securing their data is the No. 1 thing they like."

The marketplace will determine whether the public is ready to accept commercial fingerprint identification. Investors in Pay By Touch believe that day is here, capitalizing the company with $190 million in the past 12 months. More than 2.5 million shoppers already use the Pay By Touch system. Morris envisions a day when all stores -- even mom-and-pop ones -- offer a Pay By Touch option.

Soon, customers will be able to use Pay By Touch from home with the help of fingerprint readers attached to their computers. In ancient China, rulers would put their fingerprints on documents to give them an official seal. Artists would also mark their work with prints. It wasn't until the late 1800s that authorities realized they could use fingerprints to catch criminals. Their evolution as a way to pay for groceries is a 21st century twist fueled by technology. It's also a trade-off between privacy and convenience. Welcome to the brave new world in Aisle 5.

20 Şubat 2009 Cuma


With the ever-increasing emphasis on being able to demonstrate adequate anti money laundering procedures and prevention techniques, plus the draconian penalties for those failing to maintain suitable evidence of such activity, no financial institution can afford to be without an automated system such as MLTrac.

MLTrac is dedicated to identifying, tracking and regulating potentially suspicious or illegal activities in respect of money laundering and/or the proceeds of crime.

MLTrac enables financial institutions to improve their internal disciplines, supplement their policies and procedures, and make a clear statement to the authorities about their commitment to effective anti money laundering controls.

MLTrac's functionality is based upon a combination of our experience, together with contributions from our customer base and the relevant international financial authorities.

Regular updates also take account of any future changes in market requirements and legislation.

KYC Document Management - The definition, scanning, management and tracking of customer documentation, and reporting of any deviations.
KYC Account Monitoring -The tracking of movements over account(s) looking for deviations outside of a pre-determined profile.
Manual Watch List Checking. Enter a name and the system will check to see if the name, or like sounding names, appear on any of the watch lists (e.g. OFAC, Bank of England and others) that the system monitors
* Message Monitoring. MLTrac can be configured to check all inbound and outbound messages, irrespective of format, to see whether any field (normally the Ordering Customer and Beneficiary) appears on one of the supported checklists. The bank has control over the granularity of the name checking so as not to create too many false alerts. Messages that fail Watch List Checking are put to a quarantine queue for manual intervention. Full Audit Trails of all checks and actions taken is maintained by the system.
Cash Remittances. For the many institutions that originate from a country with a large overseas population the problems associated with accepting cash for remittance back home when taken against the potential ramifications of anti money laundering legislation means that the business is very risky and, often, not worth doing. The Cash Remittances module does away with this fear. Information concerning the remitter is maintained as part of the KYC Documentation Management module and is displayed and made available to the teller at the point of capturing data. A full record off all remitters and beneficiaries is maintained. Limits can be placed upon the individual remitter and upon the ultimate beneficiary (irrespective of source). The resulting SQL database can be interrogated for unusual payment patterns.

11 Şubat 2009 Çarşamba


Do you have what it takes to become a successful Forex Trader?Forextrading, or any trading for that matter, is an occupation that requiresexperience and the accumulation of proficiency not unlike any other highlyskilled profession. Whether you are a leading executive at a major publicallytraded company, a professional golfer or trading from your kitchen table, thereare 5 key ingredients that one must possess in order to become successful.1. Youmust be Passionate about what you do.As Forex traders we all face one unique setof circumstances that does not exist in any other profession. We get rewardedfor when we succeed and equally punished when we don’t! Could you image acorporate worker one quarter receiving a significant accomplishment bonus andthe next quarter actually getting money taken from their paycheck for missingperformance targets? Not on your life!We do as Forex traders and that is whypassion for what you do will carry you through the tough times that are part ofyour trading business. Asked yourself why you trade currencies and would youstill do it if Forex were not potentially lucrative? Your answers will be quiterevealing. You’ve got to feel your passion for trading!2. You have to ApplyYourself and work hard at it.I talk to so many people that enter into Forextrading with the aspiration of getting rich quick. Without putting the time andenergy into really getting good at trading I see them jump from strategy tostrategy looking for the goose that will lay the golden egg and eventuallyquitting while blaming everything else, except the true cause.I got news for you– you are the goose and your Forex education is the golden egg. The magic hasalways resided with the magician and not some strategy. Work hard at trading andthe rewards will eventually come your way. Remember what Tiger Woods said,“Funny, the harder I work the luckier I get.” Apply yourself as a trader and itwill be no accident when your account begins to blossom.3. You must Focus toreally get good at what you do.Now here is the hurdle most Forex tradersstruggle to get over. You have the passion and you are applying yourself to yourtrade, now focus and really get good at just at what you are doing. Be theexpert to the experts at just that one thing. Become the master of a strategy orrisk management methodologies. Really focus on getting good at it.Stop jumpingaround or getting pulled from the last “latest and greatest” into the next“latest and greatest” and focus on one aspect of Forex trading and know itinside out. Know it strengths and weakness. Set your sights on becoming experton just one aspect of trading and watch it spill over in all other aspects foryour currency trading. This is the time to fail forward fast, use every setbackas a learning opportunity that will propel you 3-steps ahead!4. You must PushYourself beyond the point everyone else might have quite.In Forex Trading thisis simple. Assume there is someone on the other side of your trade that ispushing themselves and sharpening their edge. To be successful you must you mustdo the same thing. Now is the time to examine your mental edge. Do you know thesingle most critical factor in any currency trade? It is you, the trader!Sharpening you mental edge is the most difficult aspect of trading, but also themost rewarding.Start with your Forex education and gain the self-awarenessnecessary to maximize your strengths and suppress your weaknesses. Any expertwill tell you that trading is 80% mental. It’s time to sharpen your trading tothe razor’s edge and you do this through Forex education. A constant and neverending process that will become the cornerstone of your Forex experience.5. Youmust, without wavering, be Determined and Persist to your objective.You willfail. I can state that emphatically. However, you will not be defeated unlessyou allow your failures to control your trading. It is the old adage; failure isnot falling of your horse, failure is refusing to get back on. Your successdepends on your ability to dismiss the criticism, rejection, self-doubt andpressures associated with Forex trading.Defining what is a winning trade, losingtrade and bad trade will go a long way into developing you as a successfultrader. Without the determination and persistence in all aspects of your tradinglife, obstacle will definitely appear closer and larger than they actuallyare.Take a moment and assess yourself and your trading. Do you have the keyelements to succeed? Which areas are presents development opportunities? Whenconducting a self-evaluation it is critical to be totally upfront and honestwith yourself. After all, you will only be dishonest with yourself. One of themost interesting observations you can make is that all key success factors areinterwoven. One factor supports the other. This is why your Forex education is acontinuous journey of forex strategy, money management and self-mastery. Setthese factors as your Forex education goals and take your currency trading tonew heights.

5 Şubat 2009 Perşembe

Perivolas Hotel, Santorini

Perivolas Hotel: It is difficult to tell where the pool ends and the waters of the Aegean Sea begin since the infinity pool at this Santorini hotel appear to stretch all the way to the horizon. The accommodation here are designed to rejuvenate you completely, aided by what is widely considered to be one of the best hotel pools in the world. What an idyllic place to spend a holiday!
In preserving the original structures no effort has been spared to conserve the aesthetics of the caves, while modern comforts have been added to satisfy guests’ needs. Each private air-conditioned house with it’s own stone terrace overlooking Santorini’s famous Caldera is unique. It is furnished with island antiques and handmade objects that convey simple elegance and a personal touch. All houses feature vaulted ceilings, spacious rooms, domed bathrooms, and fully equipped kitchenettes.
Junior suites have open-plan layouts, integrating bedroom and sitting room into one large space, while superior suites have a bedroom separate from the living room. Studios are smaller versions of the junior suites, with a sitting area. The perivolas suite features spacious living areas in a grotto-like setting, enhanced by a steam bath and a relaxing pool.
In July 2004 the dream that had been the Perivolas Suite became a reality. It was the culmination of many years' planning, the aim having always been to perfect the ideal island hideaway: a personal retreat, exclusive, intimate and informal overlooking one of the most magical sights in the world. Minimalist in design but without compromising luxury it embraces the philosophy of 'less is more' with its simple elegance. The setting is beautiful. The Suite has been fashioned out of the unique environment incorporating the materials and techniques of the original cavern dwellings. It is imbued with peacefulness and reverence for the past. Recessed lighting enhances the ambience, creating shadows and forms as decor. Blue light reflects in shimmering patterns against the white ceiling of the bedroom, which opens on to the private pool, whilst the olive tree in the sitting area, basked in a shaft of sunlight from an opening above, is a reminder to guests of the Greek island they have come to experience.
In its 120 square metres the Suite comprises a spacious, centrally situated sitting area from which all other areas - double bedroom, spa facility containing steam bath and hydrotherapy massage pool, swimming pool - are interconnected and accessible via openings and arched doorways. Clean lines and white, hand-sculpted walls are offset by warm, rich mahogany furniture, and bright-coloured soft furnishings reflect the bougainvillea and geraniums found in the gardens around the property. Every aspect of the Suite is unique. There is no repetition and no symmetry. Quite simply, it is an unequalled Aegean retreat.
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Huntron Scanners

Add Scanning Capabilites to Your Huntron Tracker Model 30 System
Tracker Model 30 shown with Scanner II underneath
Adding a Huntron® Scanner to your Tracker Model 30 system lets you access components using standard DIP clips and cables, custom cables to PCB connectors or interface to a bed-of-nails.You can compare one component with another in real-time (64 pins max.) or use your PC to automate testing and scan up to 128 pins.Huntron Scanners can be used with a Huntron Access Prober to provide Common line connections while the Prober is probing a PCB. This method gives you up to 128 selectable Commons to use. For example, you can connect the Scanner to a connector on a PCB mounted in the Prober using a common ribbon style cable. While the Prober is probing, any one of the lines on the connected ribbon cable can be selected as the Common reference. This would provide you true point-to-point testing capabilities.Note: The ProTrack Scanner will be replaced by the Scanner II and/or the Scanner 31S effective 1/1/2008. This applies to commercial sales only.Scanner II and Scaner 31S users may want to consider these Optional Accessories to enhance their test capabilities.
The Scanner II and Scanner 31S accessories add scanning capability to the Tracker Model 30
All Scanners have a minimum 64 pin capability
The Scanner II can scan up to 128 pins when the A and B channels are combined
The Scanner 31S use standard IDC style connectors
The Scanner II uses the common SCSI-2 (68 pin) style connectors
Up to 8 Scanner IIs can be “daisy-chained” to increase the available number of test pins
Selecting Accessories for your Scanner IIThe Scanner II accessories for interfacing to your printed circuit board come "ala carte". This means that you select the accessories you want included with your Scanner. Choose from SMT or through-hole style DIP clip and cable kits (Scanner Adapter required with Scanner II) or a mutli-pin breakout cable. Details on these accessories are provided on this page.


Know Your Customer (KYC) compliance regulation has proved to be one of the biggest operational challenges banks, accountants, lawyers and similar financial service providers worldwide have had to overcome.World-Check, the industry standard KYC compliance solution, provides an overview of KYC compliance and its origins, and outlines the compliance mandate as applicable to banks, accounting firms, lawyers and other regulated financial service providers – not just in the UK, Europe and the USA, but all around the world. Relied upon by more than 3,000 institutions worldwide, this KYC database solution provides effective legal and reputational risk reduction.Why “Know Your Customer?”The 9/11 terrorist attacks on the World Trade Centre revealed that there were sinister forces at work around the world, and that terrorists activities were being funded with laundered money, the proceeds of illicit activities such as narcotics and human trafficking, fraud and organised crime. Overnight, the combating of terrorist financing became a priority on the international agenda.For the financial services provider of the 21st century, “knowing your customers” was no longer a suggested course of action. Based on the requirements of legislative landmarks such as the USA PATRIOT Act 2002, modern Know Your Customer (KYC) compliance mandates were created to simultaneously combat money laundering and the funding of terrorist activities.What is Know Your Customer (KYC)?Know Your Customer, or KYC, refers to the regulatory compliance mandate imposed on financial service providers to implement a Customer Identification Programme and perform due diligence checks before doing business with a person or entity.KYC fulfils a risk mitigation function, and one its key requirements is checking that a prospective customer is not listed on any government lists for wanted money launders, known fraudsters or terrorists.If preliminary KYC checks reveal that the person is a Politically Exposed Person (PEP), for example, Advanced Due Diligence must be done in order to ensure that the person’s source of wealth is transparent, and that he or she does not pose a reputational or financial risk in terms of their finances, public positions or associations. Beyond customer identification checks, the ongoing monitoring of transfers and financial transactions against a range of risk variables forms an integral part of the KYC compliance mandate.But to understand the importance of KYC compliance for financial service providers better, its origins need to be examined.Origins of Know Your Customer (KYC) complianceThe arrival of the new millennium was marred by a spate of terrorist attacks and corporate scandals that unmasked the darker features of globalisation. These events highlighted the role of money laundering in cross-border crime and terrorism, and underlined the need to clamp down on the exploitation of financial systems worldwide.Know Your Customer (KYC) legislation was principally not absent prior to 9/11. Regulated financial service providers for a long time have been required to conduct due diligence and customer identification checks in order to mitigate their own operation risks, and to ensure a consistent and acceptable level of service.In essence, the USA PATRIOT Act was not so much a radical departure from prior legislation as it was a firmer and more extensive articulation of existing laws. The Act would lead to the more rigorous regulation of a greater range of financial services providers, and expanded the authority of American law enforcement agencies in the fighting of terrorism, both in the USA and abroad.In October 2001, President George W. Bush signed off the USA PATRIOT Act, effectively providing federal regulators with a new range of tools and powers for fighting terror financing and money laundering. During July 2002, the US Treasury proceeded to introduce Section 326 of the PATRIOT Act, a clause that removed some key burdens for regulators and added significant enforcement muscle to the Act.What 9/11 changed, in essence, was the extent to which existing legislation was being implemented. Using the provisions of the earlier anti-terrorism USA Act as a foundation, it included the Financial Anti-Terrorism Act, which allowed for federal jurisdiction over foreign money launders and money laundered through foreign banks. Significantly, it is this anti-terror law that would make the creation of an Anti Money Laundering (AML) programme compulsory for all financial institutions and service providers.Section 326 of the USA PATRIOT Act dealt specifically with the identification of new customers (“CIP regulation”), and made extensive provisions in terms of KYC and the methods employed to verify client identities.In accordance with this piece of updated KYC legislation, federal regulators would hold financial institutions accountable for the effectiveness of their initial customer identification and ongoing KYC screening. Institutions are required to keep detailed records of the steps that were taken to verify prospective clients’ identities.Although current KYC legislation does not yet demand the exclusion of specific types of foreign-issued identification, it recommends the usage of machine-verifiable identity documents. The ability to notify financial institutions if concerns regarding specific types of identification were to arise, combined with a risk-based approach to KYC, proved to provide a robust mechanism for addressing security concerns.Effectively, the risk-based approach to customer due diligence grants regulated institutions a certain degree of flexibility to determine the forms of identification they will accept, and under which conditions.KYC compliance: Implications for banks, lawyers and accounting firmsThe KYC compliance mandate, for all its positive outcomes, has burdened companies and organisations with a substantial administrative obligation. Additionally, KYC compliance increasingly entails the creation of auditable proof of due diligence activities, in addition to the need for customer identification.

KYC Document Management - The definition, scanning, management and tracking of customer documentation, and reporting of any deviations.
KYC Account Monitoring -The tracking of movements over account(s) looking for deviations outside of a pre-determined profile.
Manual Watch List Checking. Enter a name and the system will check to see if the name, or like sounding names, appear on any of the watch lists (e.g. OFAC, Bank of England and others) that the system monitors
* Message Monitoring. MLTrac can be configured to check all inbound and outbound messages, irrespective of format, to see whether any field (normally the Ordering Customer and Beneficiary) appears on one of the supported checklists. The bank has control over the granularity of the name checking so as not to create too many false alerts. Messages that fail Watch List Checking are put to a quarantine queue for manual intervention. Full Audit Trails of all checks and actions taken is maintained by the system.
Cash Remittances. For the many institutions that originate from a country with a large overseas population the problems associated with accepting cash for remittance back home when taken against the potential ramifications of anti money laundering legislation means that the business is very risky and, often, not worth doing. The Cash Remittances module does away with this fear. Information concerning the remitter is maintained as part of the KYC Documentation Management module and is displayed and made available to the teller at the point of capturing data. A full record off all remitters and beneficiaries is maintained. Limits can be placed upon the individual remitter and upon the ultimate beneficiary (irrespective of source). The resulting SQL database can be interrogated for unusual payment patterns.