Saco & Biddeford Savings Institution, an independently owned community bank, has implemented Banker’s Toolbox’s Bank Secrecy Act / Anti-Money Laundering Management System (BAM) to provide automated money laundering reporting and prevention services to its six branches. BAM replaced a time-consuming, manual process that consisted of reviewing many spreadsheets and wire reports, which left a lot of room for manual error. (Tony LeBlanc, vice president and BSA officer for Saco & Biddeford Savings Institution.)
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