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HX5 Encrypted explain how a simple check can stop a $240 Billion money laundering scandal

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HALIFAX, England, Nov. 27, 2023 /PRNewswire/ — Hx5 Encrypted build software to help businesses remain ethical and to protect their reputation. Andy Parr, the company’s, founder explains what checks HX5 do to stop money laundering.

“Money Launderers use a range of tactics to conceal the real source of their funds. It usually involves offshore companies and financial vehicles to feed the money through,” Andy said. 

The Tax Havens of the Caribbean are a popular place to hide wealth and the real beneficial owner of it. This is because while those places must adhere to international standards in place to stop money laundering, they rarely use them to do so. The Cayman Islands have never convicted a money launderer internationally and this is despite it being the sixth largest financial centre globally is an example of this at play.

The latest Crypto scandal, this time against Binance, is another classic example. Binance is registered in the Cayman Islands as a business. But it is not registered anywhere globally as an Asset Exchange. In the US the regulators have been chasing it out of the country to protect US citizens from losing their lifesavings. The US regulators have eventually caught up with Binance and fined them over $4 billion for facilitating money laundering on an industrial scale globally. They have also barred the CEO, Changpeng Zhao, from running the company and fined him personally $50 Million.

The lax way Binance have implemented (or not dependent on your viewpoint) money laundering controls has been an issue for some time. This lack of due diligence has resulted in terrorist organisations like Al Qaeda, ISIS and Hamas using the platform to move money globally as well as any number of criminals using it to ‘clean’ their money.

The question here is, why the US? Binance are registered in the Cayman Islands so why haven’t the Cayman Islands regulated it and punished the company themselves? And why have they allowed the company to register just as a business and not enforced them to also register as an asset exchange thereby forcing additional levels of scrutiny and standards on Binance? And finally, what action will they now take to sanction Binance bearing in mind it is in their backyard?

Andy says he isn’t holding his breath. “The Cayman Islands have a failed regulatory system. They don’t have the staff, the skills or the will to manage global finance and the Binance saga shines a light on this globally. They shouldn’t be allowed to operate within the highly regulated financial sector until they get their house in order to stop money laundering and tax evasion.”

HX5 Encrypted is building a software platform that will facilitate intelligence sharing between financial institutes to trace money transfers on both sides of the transaction. Andy says this will be a game changer for money launderers. “Our system is called Acrintel. Currently for a wire transfer the receiving bank only does three checks. Acrintel will complete nine and behind those checks is a huge level of data that ensures business and people are real – identified biometrically – and businesses are trading and operating properly something that wasn’t the case in  another scandal involving Danske bank.”

A single branch of Danske Bank moved $240 billion out of Russia and into the global financial sector by filtering it through 16 UK businesses that had other business beneficial owners in tax havens globally. The problem was the UK businesses were registered as dormant despite $20 million being moved daily through their accounts. Acrintel will spot that kind of activity and stop it. Acrintel will check the registration of the business and ask, why is it registered in the UK but trading with Russia, why is the bank branch in Estonia, why is the UK business shown as dormant and finally, why are they owned by offshore opaque entities?

“All of these things are a red flag for money laundering. A single red flag may mean little but a series like that is a huge signal that something isn’t right. Our software will alert the receiving bank and the transactions would be stopped,” Andy said.

“Acrintel will also spot Crypto exchanges facilitating bad actors to launder their assets because the real money moves in and out of traditional banks and when it does Acrintel will spot it.”

HX5 are currently searching for investment to help them build Acrintel as the second software solution to come out of the firm. The first is already trading internationally and is a whistleblowing software.

About HX5 Encrypted Ltd

HX5 Encrypted is incorporated in the UK and builds software for businesses. They are currently working on a risk intelligence platform to enable banks and other large financial institutes to share intelligence to prevent money laundering and tax evasion. They are seeking financial investment to bring that solution to the market. For more information about the company or their software contact Andy via the details below.

Contact:
Office@hx5encrypted.co.uk for more information
www.HX5Encrypted.co.uk

Video – https://mma.prnewswire.com/media/2285069/HX5_Encrypted_Ltd.mp4

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Azentio unveils next-generation Amlock AML solution with advanced AI, smarter screening, and streamlined user experience

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May 22, 2025

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SINGAPORE, May 22, 2025 /PRNewswire/ — Azentio Software, a leading technology enabler in the BFSI space, announces the launch of its next-generation Amlock anti-money laundering (AML) platform, bringing powerful new capabilities to financial institutions in the fight against financial crime. Powered by advanced AI and machine learning, Amlock is designed to significantly improve detection accuracy, reduce operational workload, and ensure compliance in an increasingly complex regulatory landscape.

This next generation of Amlock helps financial institutions (FI’s) detect and manage financial crime by delivering a comprehensive, AI-driven approach to AML that covers the entire customer lifecycle, from onboarding to monitoring, screening, risk management, investigation and reporting. By reducing false positives by up to 40% and streamlining workflows, FI’s can slash compliance costs by at least 20%.

With smart automation and a flexible, modular design, Amlock easily adapts to changing regulations and scales to fit institutions of any size, from local banks to global firms. The latest version adds major improvements in screening, monitoring, and case management, making compliance faster, more accurate, and more efficient. Crucially, every institution using Amlock has maintained a flawless record of zero AML-related regulatory fines which is a compelling endorsement of its unmatched reliability and proactive performance in safeguarding compliance.

The new Amlock offers AI-enhanced capabilities including:

Smarter screening capabilities – offer better accuracy with advanced matching algorithms for customer screening and transaction screening with pre-configured watchlists, local lists, custom lists and rich SWIFT message library with local format support.Intelligent alert triage and case resolution – simplify complex investigations with centralized alert and case management that supports workflows, audit trails, and collaborative resolution. Designed for scalability, it ensures operational efficiency and compliance at every step.End-to-end KYC and onboarding automation – is integrated with identity verification, corporate intelligence for enhanced due diligence, and customer lifecycle risk management into a unified compliance framework. Features like AI-based peer profiling, dynamic risk scoring, clustering and event-triggered reviews help institutions ions maintain an up-to-date understanding of customer risk.Smarter transaction monitoring – with over 400 ready-to-use rules for banking, lending, insurance, and fintech. Built-in AI helps spot patterns and connections, cutting down on false alerts.Smarter decision-making using AI to predict and suppress alerts that are likely low risk, helping teams focus on real threats. The system learns continuously from new data, becoming more accurate the more it’s used.

Commenting on the launch, Ruchi Tripathi, Director of Product Management at Azentio, said, “At Azentio, we understand the critical challenges financial institutions face in combating financial crime while maintaining compliance. Our next-generation Amlock is a direct response to these challenges, combining the best of AI technology with a deep understanding of the financial services sector. By significantly reducing false positives, cutting compliance costs, and ensuring zero fines, Amlock sets a new standard in AML technology.”

About Azentio

Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success. For more information on Azentio, please visit www.azentio.com.

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Refroid Redefines Data Center Cooling with the Launch of SentraFlo Series: India’s First Indigenously Developed Liquid-to-Liquid CDUs for Next-Gen Infrastructure

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May 22, 2025

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HYDERABAD, India, May 22, 2025 /PRNewswire/ — Refroid Technologies, India’s foremost innovator in advanced data center cooling solutions, proudly announces the launch of the SentraFlo Series—the nation’s first indigenously developed Liquid-to-Liquid Coolant Distribution Units (CDUs) designed for Direct-to-Chip Liquid Cooling (DCLC) applications. This major milestone underscores India’s growing capability to support high-density AI and HPC workloads with future-ready, made-in-India solutions.

Engineered for both hyperscale and enterprise-grade deployments, the SentraFlo cooling ecosystem features CDUs, rack manifolds, and a secondary fluid network (SFN) plumbing architecture. With customizable capacities ranging from 200 kW to 2 MW, SentraFlo is one of the most scalable and intelligent CDU solutions available today.

“Refroid is immensely proud to be the first Indian company to introduce such an advanced CDU solution,” said Satya Bhavaraju, CEO of Refroid. “This launch reinforces India’s emergence as a hub for innovation in the global liquid cooling landscape. SentraFlo will empower modern data centers to scale performance while enhancing operational efficiency and sustainability.”

Key Features of the SentraFlo Series

Scalable CDU capacities from 200 kW to 2 MW, with configurable motors, BPHEs, sensors, and filters.Advanced monitoring with built-in, redundant sensors for pressure, temperature, flow, turbidity, and pH—enabling continuous health diagnostics and concurrent maintenance.25-micron secondary fluid filtration with minimal pressure drop for high coolant purity.Dew Point Control technology to maintain dry white space and eliminate false leakage alarms.Hot-swappable sensors, redundant motors and controllers for enhanced fault tolerance.Tri-clamp fittings and SS304L/SS316L construction on all wetted components for superior reliability and serviceability.Integrated 10-inch HMI panel and real-time remote monitoring dashboard.Support for SNMP, TCP/IP, BACnet, and other legacy protocols—designed for autonomous or dark data center operations.

“Our design philosophy is centered around reliability, efficiency, and intelligence,” said Srikanth Kanduri, CTO of Refroid. “From reinforcement learning algorithms for dynamic PUE optimization to smart auto-profiling of coolants and robust build quality, every detail in the SentraFlo series is engineered for mission-critical deployments.”

Refroid SentraFlo CDU systems will begin shipping by end of June 2025, including full integration with rack manifolds and SFN plumbing.

www.refroid.com

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WIN SOURCE Ranked 13th on Supply Chain Connect’s 2025 Top 50 Global Electronics Distributors List

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May 22, 2025

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LAGUNA HILLS, Calif., May 22, 2025 /PRNewswire/ — WIN SOURCE, a global independent distributor of electronic components, has been ranked 13th on the 2025 Top 50 Global Electronics Distributors List released by Supply Chain Connect.

The ranking comprehensively evaluates distributors based on global revenue scale, operational infrastructure, regional coverage, and channel influence. It has become a key benchmark within the electronics distribution sector. WIN SOURCE’s inclusion among the top positions reflects the company’s sustained operational capabilities and growing influence across major global markets.

“The real challenge in distribution lies not in the act of distribution itself, but in the ability to consistently deliver certainty amid uncertainty,” said Ethan, CEO of WIN SOURCE. “We remain focused on fulfillment systems, digital transparency, and regional responsiveness, staying committed to long-term, sustainable development rather than reacting to short-term fluctuations.”

In recent years, WIN SOURCE has expanded its fulfillment capabilities across North America, Europe, and Asia-Pacific. By leveraging a multi-regional network and centralized platform management, the company has improved delivery responsiveness and inventory visibility on a global scale. As market volatility and sourcing complexity continue to increase, performance metrics for distributors now emphasize not only geographic coverage, but also regulatory reliability, supply continuity, and transparency across distribution processes.

About WIN SOURCE

WIN SOURCE is a leading electronic components supplier, offering innovative procurement solutions that ensure rapid access to real-time product insights and seamless support for customers worldwide. With a mission to redefine exceptional customer service, WIN SOURCE combines advanced e-procurement systems with a customer first approach to eliminate delays and simplify global sourcing challenges.

For further information, contact:
Phone:+65 6865 9377
Email: service@win-source.net
Website: www.win-source.net
Company Address: 23046 Avenida de la Carlota, Laguna Hills, CA 92653, United States

Reprinted from WIN SOURCE ELECTRONIC-NEWS

© 2025 Win Source Electronics. All rights reserved. This content is protected by copyright and may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Win Source Electronics.

 

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SOURCE WIN SOURCE

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