BANKDetect Releases RiskTracker AML; Enhanced Functionality, Additional Risk Indicators Meet Customer Demand.

SAN DIEGOCHURCHTON, Md. -- BANKDetect, a privately held knowledge-based technology company that focuses solely on loss prevention and compliance for financial industries, announced it has released RiskTracker(TM) AML. This new application is an expanded version of the company's RiskTracker system and will focus on identifying anti-money laundering (AML) risk and other suspicious activity.

"The RiskTracker system has been so successful as a fraud loss prevention solution that it was a logical step to expand the analysis to include the anti-money laundering and counter-financing of terrorism (CFT) capabilities," said Bob Cofod, president and chairman of BANKDetect. "Our goal has been to deliver the highest possible return on investment to our clients for preventing fraud losses. Since AML and CFT are compliance driven costs to every financial institution, it just makes sense to kill two birds with one stone with this application."

As BANKDetect examined the analytical requirements, it became obvious that there is a large overlap between the kinds of activities related to fraud and those that relate to AML and CFT, Cofod explained. This is particularly true for the terrorism financing because sleeper cells attempt to conduct bank fraud as a means of financing their covert operations, he added.

RiskTracker AML, which can be customized for individual bank needs, is designed to analyze virtually any type of transaction for which data can be provided for compliance. Like the basic RiskTracker, the new application uses an array of "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.

Now, BANKDetect clients can use a single system to perform simultaneous compliance analysis and loss prevention screening, or they can set up two separate systems that are focused on each problem. RiskTracker AML offers the financial industry a cost-effective solution with maximum organizational and operational flexibility.

RiskTracker is constantly evolving and is currently able to detect more than a trillion different combinations of risk in a single transaction. For the compliance task, RiskTracker AML can focus on wires, cash and other anonymous instruments, loan payment, structuring and numerous other activities in addition to all other types of demand deposit transactions.

"RiskTracker AML sets a new standard of integration for the loss prevention and compliance functions," Cofod said. "And we believe that our emphasis on service is a key component in the success of our software. Analysts at financial institutions have enough to do to prevent losses and meet compliance demands without having to worry about the technical issues involved in using advanced decision support and analysis tools - particularly in an environment where the criminals are continually changing their tactics. Our approach to the RiskTracker AML is the same service-focused process that includes daily support as well as all software upgrades."

About BANKDetect

BANKDetect LLC is a privately held knowledge-based technology company based in Churchton, Md., just outside of Annapolis, Md. The company focuses solely on advanced analytical technologies for loss prevention and compliance for the financial industry. The company's analytical systems are based on more than 30 years of experience drawn from the U.S. national and defense intelligence communities.

BANKDetect offers several products focused on the spectrum of loss prevention and compliance issues. The RiskTracker is an advanced account activity analysis system that warns financial institutions of high-risk behavior linked to fraud and abuse. The RiskTracker AML system is specifically focused on compliance satisfaction and employs an expanded array of RiskIndicators that are designed to detect money laundering and terrorism financing risks. The RiskFinder(TM) is a customer identification screening system that detects abnormalities in account application information. OFAC Checker(TM) is an online service that performs required checks against the most recent government databases of denied parties.

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.