The Anti Money Laundering Network applauds release of Sun Java Desktop System.

The Anti Money Laundering Network, the leading provider of counter-money laundering products and services says that Sun's Java Desktop System will greatly benefit compliance in the developing world and small businesses.

(PRWEB) September 19, 2003 --The Anti Money Laundering Network, the leaders in anti-money laundering e-learning, customer profiling technology, compliance consultancy, counter-money laundering strategies and information services today applauded the release of Sun Microsystems Java Desktop System.

The Anti Money Laundering Networks chairman Nigel Morris-Cotterill says the cost of technology is a limiting factor on the ability of financial services businesses around the world to comply with a wide range of regulatory demands."

The demands placed on financial institutions are not just from local regulators.

Under the USA PATRIOT Act, US banks must be sure that foreign banks that hold accounts with them - particularly as correspondent banks - have AML (anti money laundering ) procedures in place. And that includes having a range of technologies, many of which should be accessible from the desktop of ordinary workers. But the cost of running these systems has, until now, been prohibitive." If a US bank finds that its correspondents have inadequate procedures, then they may close the account and report the fact to the US Treasury which may order that no US bank deals with that correspondent. If many banks in a country are regarded in this light, then there is a significant danger that an entire country may be locked out of the US Dollar network, which means severe limitations on trade and, ultimately, a financial crisis. This system, under which a country is named as of primary money laundering concern" has been adopted in relation to Nauru.

It is the prohibitive cost that leads to widespread use of illegal copies of software - even in financial institutions - across the developing world. But until now, there was not a widely available affordable and practical alternative to Windows .

The Anti Money Laundering Networks Malaysia company, granted MSC Status by the Malaysian government for innovative technology companies, has developed a wide range of technology products to assist in detecting and deterring money laundering, customer identification and profiling and staff training. All have been developed especially with the Linux platform in mind: and are accessible from the new Sun system.

The fact that Microsoft has decided to leave the developing world and small business, both of which still run on Windows 95, 98 and 98SE, behind when it comes to patching defects in the operating system is a motivator to purchase new versions of software which the organisations simply do not need. The cost of the entire Sun system including all necessary software, is less than the cost of upgrading just the Windows OS, even if other programs do not have to be upgraded. But there is also the likely additional cost of bringing in new or newer PCs to handle the demands of the latest OSs. The overall cost of making systems secure against virus, worm and other attacks, if businesses remain with Windows, is simply too much for many businesses," says Morris-Cotterill.

The cost of software also drives crime: The piracy of that software creates huge profits for organised crime world-wide and profits those profits are laundered. So we have a multi-faceted interest in affordable software," says Morris-Cotterill.
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Notes for editors

The Anti Money Laundering Network is a group of companies specialising in counter-money laundering services and products.

The group is headed by renowned Counter-Money Laundering Strategist Nigel Morris-Cotterill.

The Anti Money Laundering Network has devised anti-money laundering technology products to deliver best of breed information and training services to financial institutions world-wide, and in particular to businesses in the developing world where cost and available technology are limiting factors in the compliance and other services that can be deployed. The systems are totally scaleable from the smallest businesses to the largest and most complex international financial institutions.

The Anti Money Laundering Network has offices in London and Malaysia.

Group Website: www.antimoneylaundering.net

e-learning website: www.quicktolearnmore.com

Contact information:

Kuala Lumpur +6 03 2072 5188
London: +44 207 107 9512
e-mail: http://www.antimoneylaundering.net/contacts.htm