Rafidain Bank launches a service to combat money laundering and terrorist financing.
Rafidain Bank launches a service to combat money laundering and terrorist financing.
2025-04-11 22:59
Shafaq News/ Rafidain Bank announced on Friday the launch of the online banking service (OBDX Online Banking Digital Experience) after activating the Anti-Money Laundering (AML) and Government Online Anti-Money Laundering (GOAML) systems, stressing that the service has been successfully activated in a number of government agencies.
The bank explained in a statement today that this decision comes within the framework of the bank’s strategy to provide a safe banking environment that adheres to the latest international standards for combating money laundering and terrorist financing, as well as facilitating electronic financial transactions for government agencies.
The statement added that the OBDX service represents a qualitative shift in the way banking transactions are conducted, as it allows government agencies to access their accounts and conduct all banking transactions easily and securely online. It also indicated that this service helps expedite operations and reduce reliance on paper-based procedures, which contributes to improving efficiency and enhancing transparency.
According to the statement, in parallel with the launch of the OBDX service, Rafidain Bank activated the Anti-Money Laundering (AML) and Anti-Terrorism Financing (GOAML) systems to ensure full compliance with international standards for combating money laundering and terrorist financing.
The bank explained that the AML system automatically monitors financial transactions and analyzes suspicious patterns, while the GOAML system records and analyzes banking data to ensure it is not used for illegal activities.
Benefits of OBDX Service Supported by Compliance Systems:
1. Superior Security: Integrated systems ensure full compliance with international standards, enhancing the security of financial transactions.
2. Global Compliance: The bank ensures the highest levels of transparency and compliance with international anti-money laundering laws.
3. Ease of access: Enables government agencies to conduct financial transactions easily and securely online without having to visit branches.
4. Increase efficiency: reduce traditional procedures and speed up transactions while ensuring compliance with global financial laws and policies.
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