Callcredit helps Union Bank of India (UK) Ltd comply with anti-money laundering regulations in UK

Bank of IndiaUnion Bank of India (UK) Ltd has chosen to work with Callcredit Information Group to help with the prevention of money laundering whilst undertaking business in the UK.

Callcredit’s CallML product enables the bank to confidently take on new customers in the UK by verifying the identity of individuals via an e-verification solution, sanction lists, PEP checks and assists in meeting anti-money laundering regulations to prevent frauds, helping Union Bank of India (UK) Ltd protect itself against any risk.

Union Bank of India (UK) Ltd is a wholly owned subsidiary of Union Bank of India, the sixth largest Public Sector Bank in India with over 3,800 branches across India and has a global presence with branches at Hong Kong, DIFC Dubai and Antwerp apart from London subsidiary and representative offices in Shanghai, Abu Dhabi, Sydney and Beijing.

Peter Mansfield, Managing Director, Callcredit Ltd said: “Money laundering presents significant challenges for the financial services sector and we understand the importance for banks to know who they are dealing with.  We are looking forward to working with Union Bank of India and helping them confidently carry out business in the UK with the knowledge they are protected against the potential threat of money laundering and fraud.” 

Sendhil Ramanathan, Managing Director & Chief Executive of Union Bank of India (UK) Ltd said:  “In the current globalised business environment, the banking industry is exposed to money laundering and the inherent risks that flow from it greatly. Union Bank of India (UK) Ltd recognise the importance of the know your customer (KYC) and anti-money laundering (AML) compliance, has partnered with Callcredit Information Group to ensure the bank’s services are not used for money laundering activities and offers compliant and ethical banking services.”

Dr Anand Kumar, Executive Director & Deputy Chief Executive of Union Bank of India (UK) ltd commented: With Callcredit’s online verification mechanism, the bank gets the report on KYC, AML compliance and fraud monitoring almost immediately which indeed helps the bank serve the customer proficiently and in a timely manner.”