Banco do Brasil has selected GIFTS Software’s Anti-Money Laundering & OFAC/Sanction List Solution, GIFTSWEB EDD, for use by several of its European branches.
Comprised of five modules: Subpoena/Inquiry Module, Transaction Profiler, Transaction Patterning, OFAC/Sanction List, and CIP, GIFTSWEB EDD is a tool used for “Knowing Your Customer”. The GIFTSWEB EDD installation will be employed to monitor transactions for Banco do Brasil’s London, Paris, Frankfurt, Milan, Madrid, Amsterdam, Lisbon & Vienna branches.
Banco do Brasil, a Brazillian government-controlled bank, has almost 5,000 branches in Brazil, and about 30 offices in nearly 25 other countries.In addition to its traditional retail banking services, Banco do Brasil underwrites and sells bonds, conducts asset trading, offers investorsportfolio management services, conducts financial securities advising, and provides market analysis and research. The bank also provides capital equipment leasing to Brazilian companies through its BB Leasing subsidiary. BB Securities is the bank’s UK-based international securities brokerage house. Banco do Brasil has more than 11,000 points of sale in Brazil.