BANKDetect Adds Staff, Expands Office Space and Forges New Business Relationships in 2005; Company Shows Flexibility in Meeting Growing Client Demand.

CHURCHTON, Md. -- Increased knowledge of fraud prevention and compliance needs enabled BANKDetect, a privately held knowledge-based technology company that focuses solely on fraud prevention and Bank Secrecy Act (BSA) compliance for financial industries, to increase its Maryland headquarters, hire two additional programmers and cultivate relationships with two additional business partners during 2005.

"We have seen some significant changes in the way companies are approaching their fraud prevention and compliance needs," said Robert Cofod, president and chairman of BANKDetect. "We realize these are changing times in which we live and banks must be more cognizant of the transactions that come through their systems. The solutions we provide, the business alliances we form and the people we hire all help ensure that banks and other financial institutions are able to save millions of dollars in prevented fraud loss, while meeting key compliance requirements."

BANKDetect expanded its headquarters by 45 percent and added two senior software engineers to its staff to meet the growing demand from current clients. This will enable BANKDetect to more easily add new clients while providing superior service.

The company also developed a strategic partnership with the Bank Closed Account Reporting System (BANKCARS) to offer financial institutions an affordable, real-time identity verification solution. The solution is updated daily and provides access to a national database of more than 168 million checking accounts as well as information on unpaid, returned checks from thousands of merchants and closed-for-cause accounts from banks.

BANKDetect also partnered with Miami-based WorldCompliance, a global leader in Know Your Customer (KYC) information, in 2005. The partnership enables BANKDetect to offer an unmatched suite of solutions for account opening and client screening procedures. Using BANKDetect's RiskTracker - ID/CIP(TM) system, financial institutions can perform a variety of duties simultaneously all in a real time environment.

"Because of the level of information, prevention and security that more and more banks demand, we have developed these relationships to more effectively meet their needs," said Karen Cofod Smith, executive vice president of BANKDetect. "Having a highly-trained staff and customer service team is just as important to us as having premier systems. This is the mindset that has given us, as well as our solutions industry wide attention.

"While part of BANKDetect's success can be credited to continuously updating our technology and providing enhancements that our customers want," she said, "we also want to better align ourselves with companies that can help us provide the best service."

BANKDetect plans to continue to enhance its systems and remain flexible to continue to provide the industry with the latest applications and service.

About BANKDetect

BANKDetect, a division of FRAUDetect, LLC, is a privately held knowledge-based technology company based in Churchton, Md., just outside of Annapolis, Md. The company focuses solely on fraud and abuse prevention for the financial industry and develops and operates analytical systems using more than 30 years of experience drawn from the U.S. national and defense intelligence communities.

BANKDetect offers several products to prevent fraud: RiskTracker is an advanced transaction monitoring system that uses a broad spectrum of fraud detection functions to analyze daily demand deposits and identify high risk behavior; RiskTracker ID/CIP is a customer identification screening system and works with RiskTracker to detect abnormalities in application data and filter out fraudulent applicants before they open an account; RiskTracker Transit detects deposited items made against closed accounts and other causes of returned items; and RiskTracker-OFAC can be use online to check customer names and addresses against the most recent government databases.

For more information, contact BANKDetect at 5419 Deale Churchton Road, #205, Churchton, MD 20733-2404; call 410-867-8217 or visit the company's Web site at www.bankdetect.com.