BANKDetect Doubles Size of Maryland Headquarters; Growing Demand Dictates Need for Expansion.

CHURCHTON, Md. -- BANKDetect, LLC, a privately held knowledge-based technology company that focuses solely on loss prevention and compliance for financial industries, has expanded its headquarters by 45 percent and will be hiring additional staff to meet the growing demand on the company. The expansion gives BANKDetect the needed office space to provide the services to its increasing client base.

"To maintain the high level of service we provide our clients, we needed additional space to ensure that all of our existing clients and the new ones that partner with us continue to receive the level of service that has earned us their trust and their business," said Karen Cofod Smith, executive vice president and operational manager. "Recently Xavier Estrada joined our team as senior software engineer. He has already made an immediate impact on the production and upgrades of our fraud detection applications. We continue to seek talented individuals to assist in developing new functionality for our products."

BANKDetect offers several fraud detection and compliance solutions that use analytical methodologies when monitoring transactions within financial institutions. Its systems are integrated into a complete suite of risk management tools, capable of providing the most cost effective and comprehensive loss prevention and Bank Secrecy Act compliance programs.

"Financial institutions today cannot avoid the growing threat of fraud, money laundering and the financing of terrorism," said Bob Cofod, president and founder of BANKDetect. "The consequences are more grave than ever and financial institutions are becoming aware of the fact that they need (the right) technology to help them monitor their accounts. Since federal regulations require them to perform this safeguard, they have and will continue turn to us to provide them with cost effective systems and exemplary customer service. With our expansion, we are able to more comfortably meet the demands of today's savvy institutions."

About BANKDetect

BANKDetect 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-A3 (Account Activity Analysis) 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(TM) is a customer identification screening system and works with RiskTracker-A3 and RiskTracker-AML(TM) to detect abnormalities in application data and filter out fraudulent applicants before they open an account; RiskTracker-Transit(TM) detects deposited items made against closed accounts and other causes of returned items; RiskTracker-OFAC(TM) can be used online to check customer names and addresses against the most recent government databases; and, RiskTracker-AML(TM) is an advanced transaction monitoring system that uses a broad spectrum of detection functions to identify money laundering behavior.

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.