Analytics

Financial Crime Solutions


The problems associated with fraud and money laundering are nothing new. For years, people involved in organised crime have endeavoured to set up accounts for the sole purpose of moving the proceeds of crime through a network, in order to obscure their source, extract funds and make recovery by Financial Institutions nearly impossible.

Part of the reason for the rise, and the success, of fraud and money laundering is the speed at which modern payment systems enable money to move. People and businesses benefit from the speed and convenience of transferring money 24/7; but unfortunately, criminals do too.  

Our financial crime solutions overlay payments data with leading-edge data science tools and techniques to develop ground-breaking solutions and protect the legitimate users of payments systems.

AML INSIGHTS

The speed of modern payments systems means that stolen and illicit funds can be moved quickly through networks of accounts. As a result, many existing legacy technologies and manual processes struggle to quickly identify and flag suspicious transactions.

The further money moves away from a victim’s account, the harder it becomes to trace. This is because Financial Institutions don’t have a complete end-to-end view across payments systems.

Our AML Insights solution provides additional intelligence beyond an individual financial institution’s partial view. This is a significant step-up in fraud decision and anti-money laundering (AML) analytics.

By fundamentally transforming the way in which financial crime is tackled, our solution has the capability to disrupt organised criminal network activity and stop it in its tracks - all while complementing FIs’ existing solutions and capabilities.

*Source: the UK National Crime Agency

AML Insights has the potential to prevent organised criminal activity on the payments network, as well as deliver a significant step-up in fraud decision analytics to complement existing FI solutions. 

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The scale of the laundering of criminal proceeds is a strategic threat to the UK's economy and reputation. 

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CORPORATE FRAUD INSIGHTS

Payment-related fraud is a significant threat to businesses, both large and small.

This form of fraud occurs when companies are duped into paying money to a fraudster rather than a legitimate supplier; whether that is a one-off bill or a regular payment. This includes Invoice Redirection, CEO (also known as Business Email Compromise or BEC) and Mandate fraud. Once processed, the funds are quickly laundered through the banking system, making it difficult to trace. Stolen funds are rarely recovered, leaving financial institutions and their customers to bear the cost.

Our Corporate Fraud Insights solution identifies and flags suspected fraudulent transactions early in the transactional cycle by applying advanced analytics and behavioural rules to payments data.

**Source: U.S. Federal Bureau of Investigation (FBI)

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