US Senate told of need for programs to help identify terrorist funds before use.

Below is an extract from a prepared statement to the Senate Committee on Banking, Housing, and Urban Affairs by the Director of the Banking Supervision and Regulation Division of the Federal Reserve Bank.

Risk Values' RV1 (tm) works by identifying those with a propensity to commit financial crime including funding terrorism before transactions take place, and does so without reference to racial or religious characteristics, place of origin or residence.

Risk Values brings together advanced thinking in customer profiling and counter-money laundering strategies.

There is further press information, as well as considerable background information, at the Risk Values website.

Prepared Statement of Mr. Richard Spillenkothen
Director
Division of Banking Supervision and Regulation
Board of Governors of the Federal Reserve System

10:00 a.m., Tuesday, January 28, 2002

"Money used to finance terrorism does not always originate from criminal sources. Rather, it may be money derived from legitimate sources that is then used to support crimes. Developing programs that will help identify such funds before they can be used for their horrific purposes is a daunting task, but we are trying to meet this responsibility along with our colleagues at the U.S. Departments of Treasury and Justice, the Securities and Exchange Commission and other U.S. and international regulatory and law enforcement agencies."

1. The Risk Values website is at www.riskvalues.com
2. The Risk Values project was formulated by Nigel Morris-Cotterill who advises financial services businesses around the world on the detection and prevention of money laundering and the recovery of proceeds of financial crime. He is senior consultant with UK based counter-money laundering consultancy Silkscreen Limited (www.countermoneylaundering.com). Nigel is also editor of World Money Laundering Report (www.vortexcentrum.com) and MD of clicktolearnmore.com, the leading provider of content for counter-money laundering training by e-learning.
3. The analysis was researched and developed by Pat Lalonde-Dade and Les Higgins who have conducted relevant research and analysis for marketing led projects for over ten years.
4. Risk Values Limited is a new joint venture company formed to develop and market the Risk Values project.
5. RV1™ uses a custom-designed algorithm to analyse customer responses and create a Risk Value.
6. RV1™ can also be used by non-financial services businesses to asses the Risk Value a potential customer or supplier.
7. RV1™ will ship on 15th January 2001. Several major financial institutions expressed considerable interest in RV1™ even during its formative stages of development.
8. RV1™ will be available in two versions: a stand alone version which requires no installation and an open-end version enabling customers to integrate RV1™ within their existing data-capture and reporting systems.
9. Contact:

Press:
Nigel Morris-Cotterill, Risk Values Limited, P O Box 1882, Brentwood, Essex CM15 0GA, England
Tel: +44 701 0701 129 e-mail: nigelmc@riskvalues.com

Product Enquiries:
Risk Values Limited, P O Box 1882, Brentwood, Essex, CM15 0GA, England
Tel: +44 (0) 709 233 2269       e-mail: enquiries@riskvalues.com
www.riskvalues.com