TransferOrbit Releases Automated Compliance Check Product

ST. LOUIS--(BUSINESS WIRE)--TransferOrbit Corporation (OTC: TRBI) announced today the release of its new automated “compliance check” product, which will be marketed to businesses engaged in money transfer activities. The product, which is called TransferAlert, enables businesses that perform money transfers to perform an automated verification, or background check, on a given sender’s and beneficiary’s historical transaction data, as well as on transaction limits and other pertinent details. The information returned is based on the Department of the Treasury’s Office of Foreign Assets Control (OFAC) list.

“Financial service institutions, banks and any business engaged in money transfers will now have an automated compliance review over every transaction via TransferAlert, which they can customize based on their needs,” said Michael P. Loftus, vice president of operations and compliance for TransferOrbit. “Customizations available include private list review and extended surveillance.”

TransferOrbit’s new TransferAlert product line offers institutions engaged in money transfers the ability to go beyond the basic OFAC list check, and access specific customizable surveillance for reporting. “In today’s money transfer environment, we provide our customers a cost-effective and fully reliable compliance tool to help protect them against illegal activity and financial loss,” commented Jorge Toro, CEO of TransferOrbit.

For more information on the new TransferAlert product line, please visit TransferOrbit’s corporate Website at www.TransferAlert.biz. TransferAlert will be included with current processing services already offered to banks and money transfer businesses, and it will be marketed separately to financial service companies.

ABOUT TRANSFERORBIT:

TransferOrbit, a Florida Corporation, is an electronic intermediary for money transfer providers. Banks and non-banks use the Company’s scalable, turnkey system of proprietary software and secure network processing to facilitate the person-to-person transfer of money on a “private label basis” throughout Latin America. Providers piggy-back on the Company’s established network in the United States and among the 17,000 plus transfer agents throughout Latin America.