ACE holds the "SWIFT Ready Gold - Intelligent Message Enhancer" status for 2005. This is the third year that ACE has held this certifica-tion. ACE products have consistently been SWIFT Ready Gold certification during the past 6 years.

ACE products have also been awarded two more SWIFT accreditations: ""SWIFT Ready Gold - Financial EAI" and "SWIFT Alliance Plug-In". These certifications prove ACE's unbeatable expertise in intelligent messaging and EAI/ integration technologi-es.

Drivers for Anti-money Laundering Systems

Regulatory Requirements

There are both criminal and civil penalties for violating the law, commonly imposed against financial institutions due to their failure to block illicit transactions. Financial institutions must now identify and investigate potential money laundering activity moreover, if executives fail to step up to the challenge, they face stiff penalties, such as - fines, incarceration, and bad publicity.

Reputational Risk

Authorities' stringent enforcement of AML regulations have put Financial Institutions at risk at damaging their reputation, a cost that could be so high, it is impossible to ascertain. In addition to penalties and incarceration, punishments slapped by these regulations- even an inquiry into a firm's failure to comply could drive away potential and existing customers in droves.