BANKDetect Expands RiskTracker-AML(TM) and RiskTracker-A3; Additional Analyses, Risk Indicators, Enhanced Functionalities Meet Growing Market Demand.ORLANDO, Fla. -- BANKDetect, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a privately held knowledge-based technology company that focuses solely on loss prevention and compliance for financial industries, announced at the Bank Administration Institute (BAI n. 1. a language spoken in the Dali region of Yunnan. Noun 1. Bai - the Tibeto-Burman language spoken in the Dali region of Yunnan Baic ) Retail Delivery Conference & Expo 2005 the expansion of its RiskTracker-AML and RiskTracker-A3 (Account Activity Analysis) solutions to enhance functionality and include additional analyses and risk indicators. These enhanced solutions better ensure that financial institutions have effective protection against evolving fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. activities. "The rate at which fraudulent attacks have escalated this year is indicative of widespread vulnerabilities," said Bob Cofod, president and chairman of BANKDetect. "Our commitment is to continue to deliver technology upgrades and enhancements that counteract the rampant growth of fraudulent activities - particularly in an environment of constantly emerging crime." RiskTracker-AML is a transaction monitoring system that identifies money laundering The process of taking the proceeds of criminal activity and making them appear legal. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. risk and other suspicious activity. Its enhancements include analyses of loans, politically exposed persons Politically exposed person or PEP is a term that for a person who may be or recently acted in the political arena of a country or has held such a position in the recent past. (PEPs), non-resident aliens (NRAs), employee accounts and same address accounts. The loan analysis includes "RiskIndicator" analysis modules that perform a wide variety of independent or interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in analyses on cash payments, early pay-offs and payments larger than expected. The enhanced solution also enables financial institutions to automatically generate suspicious activity reports A Suspicious Activity Report (or SAR) is a report regarding suspicious or potentially suspicious activity, filed with the Financial Crimes Enforcement Network (FinCEN), an agency of the United States Department of the Treasury. (SARs) and counter-terrorism reports, and attaches documents to the internal case management system. RiskTracker-A3 is an advanced transaction monitoring system that uses a broad spectrum of fraud detection functions to analyze daily transactions and identify high-risk behavior high-risk behavior Public health A lifestyle activity that places a person at ↑ risk of suffering a particular condition. See Safe sex practices. . Its enhancement includes the analysis of general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. transactions, to monitor a bank's internal activities, and "RiskIndicator" analysis modules. BANKDetect's solutions are constantly evolving and currently able to detect more than a trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. different combinations of risk in a single transaction. Its clients', on average, experience returns on investment in excess of 30-to-1 in actual fraud losses prevented and improved analyst productivity. 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. |
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