SUM2 tackles anti-fraud with AML package

US software firm SUM2 is testing anti-fraud compliance software to help hedge funds deal with the requirements of the US Patriot Act. The supplier is testing Patriot Act Compliance Officer Software (PACO) with a number of hedge funds and asset managers in the US and is aiming to release the product early next year. Carl Cheney, chief operating officer at SUM2, said the system is part of AML Compliance Manager, a larger suite of programs that guides the user through a series of due diligence