The Republic of Macedonia implements Genus

Market 01/12/2011 by Johnny Troset Andersen

Macedonia’s Ministry of Finance and their Financial Investigation Unit has decided to implement a Genus Logix software application for prevention of money laundering and terrorism financing.
 
Genus AS will build on the close and successful cooperation with the Norwegian Financial Intelligence Unit (EFE at ØKOKRIM), which will be a key partner throughout the project.
 
The project is a part of a bilateral development cooperation between the Norwegian Ministry of Foreign Affairs and the Republic of Macedonia.
 
The application will strengthen the Macedonia Financial Investigation Unit’s capacity in electronic capturing of suspicious transactions and data processing.
 
The project will also support Macedonia’s process for EU adaption and negotiations, and the reform of public management to promote transparency, professionalism and political independence. The application also targets better cooperation with Financial Investigation Units in other countries.
 
Close cooperation with the Norwegian ØKOKRIM
Genus AS is the main vendor behind a similar software application delivered to ØKOKRIM in 2008. ØKOKRIM is the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime.

ØKOKRIM will provide the Macedonia Financial Investigation Unit with experienced support regarding project execution, project to production transition, training, suspicious transaction capture, implementation etc.

Bilateral Development Cooperation
The project is a part of a bilateral development cooperation between the Norwegian Ministry of Foreign Affairs and the Republic of Macedonia, as part of a larger grant scheme to support peace and state building projects in the Western Balkans.
 
Two Components
The project consists of two components.
 
The first component will cover compliance regarding the entities reporting (i.e. data capture) suspicious transactions. It will be developed and implemented an efficient web-based reporting solution for all type of entities and all type of reports. There will be maintained training sessions for the representatives of the entities, presenting the functionality of the solution, but also raising the awareness of preventing money laundering and combating terrorism financing.

Regarding the second component, the main accent will be on the side of the Financial Investigation Unit. The primary part is developing a highly efficient software system for automatic processing of the data. The concept and the techniques will be used from the Norwegian ØKOKRIM, which is a very powerful and integrated solution. Adjustments of the Financial Investigation Unit’s business processes and organization, including user training, will be taken into account, securing a successful long-term investment.