Alert Global Media Has Been Sold to Fortent
Friday, 15 December 2006
Alert Global Media, the Miami-based publisher of moneylaundering.com and Money Laundering Alert and provider of anti-money laundering conferences and training for financial professionals, has been sold to Fortent, a specialist in anti-money laundering and fraud detection technology.
The transaction significantly expands Fortent's platform of risk and compliance products and services, creating a comprehensive suite of technology, training, and information services for financial institutions and government agencies worldwide.
"Alert Global Media is the industry's premier source of anti-money laundering information and training," said Sandy Jaffee, CEO of Fortent. "This acquisition further positions Fortent as the leading risk, compliance, and knowledge solutions provider to financial institutions globally."
Alert Global Media's Web sites, Moneylaundering.com and the Spanish-language site, Lavadodinero.com, provide daily news and analysis of anti-money laundering regulations and reference information on money laundering laws, regulations, international developments, and government action.
The sites are used as training tools by financial institutions and government agencies worldwide. Money Laundering Alert, Alert Global Media's monthly newsletter, covers legislative, regulatory, and enforcement developments in the US and other countries. Launched in 1989, the newsletter was the world's first periodical devoted to money laundering.
Alert Global Media's internationally recognized conferences and other training programs attract financial services, regulatory, and law enforcement professionals from more than 90 countries. Its Annual International Money Laundering Conference and Exhibition, which is held each March in Hollywood, FL, is the largest anti-money laundering conference in the world.
The day-to-day operations of Alert Global Media's publishing, conference, and training units will operate independently from Fortent's compliance technology business. "Trust and integrity drive everything we do," said Ms. Jaffee, "and we are committed to letting our business units function in a way that best serves our customers in all areas of their compliance needs."
"The joining of these two powerful brands with complementary skills, resources, and reach raises the quality of anti-money laundering products and services offered to the world's financial and government sectors," added Charles A. Intriago, founder of Alert Global Media, who will continue to lead that business as a senior executive of Fortent.
"We are impressed by Fortent's reputation as a global leader in compliance technology and its commitment to maintaining Alert Global Media, including the Association of Certified Anti-Money Laundering Specialists, as an independently managed business within its overall risk and compliance offerings. This acquisition solidifies Fortent's dedication to building a true end-to-end risk and compliance solution," said Mr. Intriago.
Erica L. English of Katz, Barron, Squitero & Faust served as legal counsel to Alert Global Media.