BANKDetect Expands RiskTracker-AML(TM) to Include Money Service Business Identification; Additional Analysis Meets Growing Market Demand, Enhance Due Diligence.

CHURCHTON, Md. -- BANKDetect, LLC, a privately held knowledge-based technology company that focuses solely on loss prevention and compliance for financial industries, announced the expansion of its RiskTracker-AML solution to include additional analyses for money service business (MSB) identification. The additional function will enhance the due diligence process and meet an industry need to identify and analyze MSBs as a distinct group.

"We noticed a substantial number of financial institutions diminishing their MSB accounts due to the high cash risk involved," said Bob Cofod, president and chairman of BANKDetect. "RiskTracker-AML's new MSB identification analysis will enable these institutions to continue their business with a heightened degree of safety and the opportunity for a more hands-on monitoring approach. Additionally, the solution expands business opportunities for institutions that would not have considered MSB accounts otherwise."

The additional analysis in RiskTracker-AML enables financial institutions to heighten the risk-score of these accounts. It also gives employees the option of whether to signal each MSB account for personal approval, or only those that fall under a predetermined number of red flags.

RiskTracker AML is designed to analyze virtually any type of transaction that can provide data for compliance. It uses several "RiskIndicator" analysis modules that can perform a wide variety of independent or interrelated analyses, ranging from pattern detection to trend analysis and individual transaction assessment.

BANKDetect's solutions are constantly evolving and currently able to detect more than a trillion different combinations of risk in a single transaction. The company's 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, 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 loss prevention and compliance solutions 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(TM) (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(TM) 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; and RiskTracker-OFAC(TM) can be used online to check customer names and addresses against the most recent government databases; RiskTracker-AML(TM) is an advanced transaction monitoring system that uses a broad spectrum of detection functions to identify money laundering.

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.