EastNets Presents Advanced Fraud Prevention Strategies at Sibos 2011

NEW YORK, NY and DUBAI, UNITED ARAB EMIRATES--(Marketwire - Sep 14, 2011) - EastNets, a leading global provider of compliance and payments solutions and services, will discuss the best strategies and technologies for preventing, detecting and addressing financial fraud during the 2011 edition of Sibos, the world's premier financial services event. The company will deliver a presentation titled 'Emerging Fraud Challenges' on the fourth day of the summit that will cover the latest fraud threats, trends and methods faced by Europe and the rest of the world.

Occurring September 19-23, 2011 at the Metro Convention Centre in Toronto, Canada, Sibos 2011 will gather banking and financial experts and leaders from around the world to network, do business and talk extensively about key industry issues such as fraud prevention. Sibos is organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the operator of the renowned worldwide SWIFT financial messaging network.

"Financial fraud has been growing in complexity over the past few years as criminal elements take advantage of a recovering global economy. Sibos is an important platform to identify and promote the best approaches to anti-money laundering and other illegal financial transactions, and EastNets is very eager to present its own detection and prevention solutions in full support of the global fight against fraud during the event. We also want to learn more about the unique challenges faced by financial institutions globally so that we can come up with more effective anti-fraud solutions," said Hazem Mulhim, CEO of EastNets.

During its presentation, EastNets will describe how organized criminal groups travel throughout Europe, identify security gaps and target new territories. The company will emphasize developments in areas such as hardware and software updates, cross-border cooperation and structured initiatives against fraud.

EastNets will also showcase the capabilities of en.SafeWatch Anti-Fraud, a system that provides real-time protection against fraud. The solution accurately detects credit card, wire and internet fraud and can perform real-time blocking actions to protect institutions against fraud losses. It can be easily configured to suit the operational and cost requirements of adopters. The en.SafeWatch Anti-Fraud system is seamlessly integrated with EastNets anti-money laundering systems currently used by over 400 financial institutions in 80 countries.

EastNets also now features an internal fraud module, taking care of employee behavior within a financial institution. The company's anti-fraud solution is equipped with dynamically populating dashboards that offer the possibility to monitor and visualize incidents as they happen. It also covers incidents that may happen with a pre-paid portfolio.

Other EastNets services to feature at Sibos 2011 are the best-selling en.SafeWatch Profiling anti-money laundering system and the en.MoRe Mobile Remittance solution for secure and compliant mobile money transfer. For details on Sibos 2011 and EastNet's participation in the event, visit http://www.sibos.com/

About EastNets
EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporations around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, please visit www.eastnets.com.