The solution will enable the bank to monitor any suspicious transfer of money, including terror financing State Bank of India (SBI) has announced that it has deployed a solution to prevent money laundering across its group companies and six associate banks.

The solution has been deployed by 3i Infotech in compliance with the orders of the country’s apex bank and is aimed at monitoring any suspicious transfer of money, including terror financing, reports IANS.

The Reserve Bank of India and the country’s Financial Intelligence Unit had made it mandatory for all banks operating in India to adopt anti-money laundering technology for retaining the trust of its genuine customers..

The SBI group has a combined branch network of 16,000 across the country and its associated banks include State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Indore, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore.

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