MCLEAN, Va., Oct. 27 (UPI) -- U.S. company Booz Allen Hamilton and International Management Advisory Group have partnered on a tool to counter terrorist financing operations.
Booz Allen announced an agreement with IMAG to offer financial institutions an analytic service that officials say monitors account activity for possible terrorist financing, providing financial institutions with actionable intelligence.
The new Anti-Terrorist Financing service, developed over two years, will be incorporated into IMAG's Anti-Money Laundering program.
"By partnering with Booz Allen and incorporating their proven Anti-Terrorist Financing methodology into the Anti-Money Laundering programs and platforms which we developed for our client banks, we are confident that financial institutions will have a powerful weapon to combat terrorist financing," IMAG President Gary Peterson said in a statement.
"The result will be a significant reduction in reputation risk as the combined Anti-Money Laundering/Anti-Terrorist Financing solutions enhance the detection and reporting of suspicious terrorist-related activity."