Ex OFWs invent anti money laundering app

Amidst the $80 million money laundering scandal, a Philippine company composed of young professionals and former Filipino migrant workers developed the country’s first money remittance platform with Anti-Money Laundering and Terrorism Financing.

The computer software, according to Mohur Inc. Vice President for Research and Systems Development Nigel E. Canonizado, is part of his company’s 247 RemitPlus, a multi-tenant and modularized computer app that is capable to “monitor” and “suspend” suspicious transactions, fraudulent transactions, covered transactions, and aggregated transactions.

The-Filipino-Times_Ex OFWs invent anti money laundering app

As the copyright owner, Canonizado said in a news release, Mohur is willing to let Anti-Money Laundering Council (AMLC) use their Money Launderer and Terrorist Interdiction Program to monitor “inward transactions” and “outward transactions” generated by banks and remittance companies.

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