Callaway Bank Selects BANKDetect's RiskTracker AML; Bank Boosts Compliance Standards and Expands Risk Indicators with AML Component.

CHURCHTON, Md. -- BANKDetect, a privately held knowledge-based technology company that focuses solely on loss prevention and compliance for financial industries, announced that Fulton, Mo.-based Callaway Bank selected RiskTracker AML to further reduce fraud-related losses and enhance compliance standards. Callaway Bank has five branches and $200 million in assets. The independent community bank was established in 1857.

Callaway was able to prevent $30,000 of loss during the first 45 days of RiskTracker's implementation. The addition of the AML module will help the bank monitor high-risk activity related to fraud and abuse while identifying anti-money laundering activity and other suspicious actions such as counter-financing of terrorism capabilities.

"RiskTracker has provided prevention and compliance capabilities beyond our expectations," said Darla Ditter, risk management officer of Callaway Bank. "BANKDetect's solutions are both affordable and effective. It was a logical step to expand our use of the solution to include anti-money laundering and counter-financing of terrorism capabilities. The analytical risk indicators are easily manipulated to meet our bank's individual needs."

Like the basic RiskTracker, the AML version 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. In addition to the risk indicators, several new indicators allow RiskTracker AML to help identify potential money laundering and terrorism activity. These indicators include high volume income/cash wires, multiple wires and suspicious amounts.

"Banks need to take a strong, proactive stance to address AML pressures," said Robert Cofod, president and chairman of BANKDetect. "Compliance issues are on the rise and the cost of compliance impacts the bottom line of every financial institution. Combining this cost with the ability to prevent fraud losses makes strong economical sense."

The solution controls fraud and compliance in a highly manageable format. It can be used to identify problem branches and helps auditors and operations managers improve the organization's quality management practices. Callaway Bank uses RiskTracker AML's flexible parameters to adjust specific RiskIndicators based on historical monetary flow. It creates a watch list to carefully monitor any suspicious accounts.

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; RiskFinder 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; RiskCheck detects deposited items made against closed accounts and other causes of returned items; and OFAC Checker 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.