Eastnets was Highly Commended for its trade-based money laundering (TBML) and compliance solution at the 7th Regulation Asia Awards for Excellence 2024.

Recognition in the TBML & Trade Compliance Solution category acknowledges platforms that help financial institutions efficiently address trade compliance challenges and strengthen defences against TBML risks. Eastnets’ solution was noted for its strong focus on accuracy, operational efficiency, and flexibility, helping to support firms as they navigate the increasingly complex global regulatory landscape.

Eastnets’ SafeTrade platform leverages advanced AI algorithms and seamless data integration to streamline compliance, reduce false positives, and enhance the effectiveness in the detection of trade-based financial crime. By providing clients with customisable workflows and real-time reporting, Eastnets enables financial institutions to stay agile in their compliance processes and confidently adapt to evolving regulatory standards.

The Regulation Asia awards panel praised Eastnets’ commitment to innovation in trade compliance, with one judge emphasising its ability to “set a new standard for TBML detection with solutions that balance regulatory rigour and operational flexibility.”

“Eastnets’ solution demonstrates how AI-driven compliance tools significantly reduce risks and improve efficiencies in the fight against TBML,” said Bradley Maclean, Co-founder of Regulation Asia and Chair of the Awards Committee. “Their work in this area exemplifies what the future of trade compliance should look like and offers a model for the industry.”

About the Regulation Asia Awards for Excellence 2024

The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.

For a full list of the award 2024 winners, visit www.regulationasia.com/awards.

About Regulation Asia

Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 13,000+ subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.

Visit www.regulationasia.com or connect via LinkedIn or Twitter.