Giant Oak Releases GOST™ to Fight Money Laundering

Giant Oak Releases GOST™ to Fight Money Laundering
14.03.2016 07:00 am

Giant Oak Releases GOST™ to Fight Money Laundering

Security , AML and KYC

Giant Oak, Inc. today launched its highly efficient large scale negative media search tool GOST™ to the financial services community at the Independent Community Bankers of America (ICBA) Annual Meeting in New Orleans, LA. GOST™ allows analysts and investigators to perform negative media searches on a tremendous amount of entities quickly and reliably.

"Bank executives must know their customers in order to run efficient businesses and comply with anti-money laundering (AML) requirements," said Giant Oak CEO Gary M. Shiffman.

"Performing negative media searches on a tremendous amount of customers every day takes hours and the results are typically inconsistent and overwhelming. GOST™ gives analysts an incredibly fast way to do their work, and senior management gets prioritized results to make the smartest business decisions," said Matt Addington, Vice President at Giant Oak.

By leveraging domain specific indexes of the internet, GOST™ uses a sophisticated risk-scoring method that targets the right kind of information on countless customers, so you can focus on where to begin. It then provides a summary on each individual including web page images and keywords so financial institutions can confidently decide who they want or don't want to work with. GOST™ also provides an audit trail that can be used to defend the decisions made should any negative information surface after the search was conducted. For more information on GOST™, please visit

Related News

Rackspace Technology Supports gohenry’s Migration to Google Cloud

Rackspace Technology™ (NASDAQ: RXT), the multicloud expert, has supported gohenry with... Read more »

Turkish Akbank Selects Featurespace's ARIC Risk Hub to Prevent Fraud

Featurespace™, the leading provider of Enterprise Financial Crime... Read more »

Increased Contactless Spending Could Be Linked to Higher Fraud and Payment Disputes, Warns Global Risk Expert

Monica Eaton-Cardone, COO and Co-Founder of merchant dispute specialist, Chargebacks911, and its revolutionary new financial institution brand, Fi911, warns of... Read more »

Sysnet Adds New Features to its Revolutionary Proactive Data Security Solution

Sysnet Global Solutions, the leading provider of cyber security and compliance solutions, is... Read more »

UK Banks Outperform Rest of Europe in Reducing Card Fraud

UK banks achieved the biggest reduction in card fraud losses last year among 18 countries across Europe, according to the updated FICO European Fraud Map. More... Read more »

Mortgage Lender Specialist Aldermore to Adopt the DPR Distribution Hub

DPR, the provider of savings and lending origination and servicing solutions, has announced Aldermore as... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel