Financial Crime Analytics launches its range of risk intelligence solutions

April 14, 2009 - PRLog -- Financial Crime Analytics, a leading provider of risk - intelligence, identification and profiling solutions has commenced the final phase of its solution development pilot with its financial institutions clients, which will see the release of the following solutions to the financial crimes risk analytics market in mid 2009:

-KYC Analytics:

KYC Analyser is a comprehensive risk assessment, customer risk profiling and reporting system that utilises entity and financial demographic risk intelligence data sourced from a wide range of leading global and regional sources.

Using KYC Analyser, financial institutions, lawyers, accountants and real estate agents are able to risk assess new, existing or potential customers through a combination of targeted statistical profiling and comprehensive workflow to immediately identify customers that may not have otherwise been identified as posing a higher risk of financial crime.

KYC Analyser also provides a wide library of statistical profiles that are an essential consideration when fine tuning existing risk assessment systems and modeling existing and new parameters/ thresholds in transaction monitoring systems.

-Trade Control Check:

"Weapons of mass destruction which may be in the hands of states of concern or terrorists/non state actors constitute one of the greatest security challenges which Europeans may ever face." Council of the European Union, 2008

It would be an understatement to say that the world has never faced a greater risk of criminals, terrorists and rogue states accessing chemical and biological agents to develop 'Weapons of Mass Destruction' (WMD) to threaten global economic, political and social stability.

Governments and law enforcement agencies around the world are increasingly turning their attention to preventing the trade of armaments, chemicals, biological agents, dual use goods and technologies with embargoed destinations, denied persons, sanctioned entities and prohibited end users.

Trade Control Check empowers financial institutions to identify when products, services and transactions are being provided to support trade that breaches government and regulatory controls in place for armaments, dual use goods and technologies with embargoed destinations, denied persons, sanctioned entities and prohibited end users.

Using proprietary real time monitoring of information sourced from government and regulatory agencies, reliable intelligence sources as well as our own analysis performed by PhD qualified engineers and analysts, Trade Control Check provides a database of heightened risk destinations, goods and technologies that is an essential risk intelligence source for financial institutions that monitor and filter international payments and trade finance transactions.


-Trade Finance Analyser:

Trade Finance is a recognised and growing means by which criminals and terrorists are able to move significant amounts of funds throughout the world to further criminal enterprises (including drug trafficking, fraud, people trafficking and tax evasion) and support terrorist causes.

Financial institutions are exposed to the significant risks of trade finance based financial crime, including the potential for regulatory intervention and fines, reputational damage, imprisonment of key staff and potential loss of banking licence.

With Trade Finance Analyser, financial institutions can proactively identify, manage and reduce their exposure to high risk trade finance transactions. Trade Finance Analyser is a comprehensive trade finance risk assessment, transaction profiling and reporting system. Fully integrated with our leading Trading Control Check solution and incorporating trade entity and financial demographic risk intelligence profiling, Trade Finance Analyser empowers financial institutions to manage their trade finance money laundering, terrorism financing, fraud and sanctions risk.


John Harper, Solution Development Manager with Financial Crime Analytics said " We are very close to going live with our suite of products, based on the hard work of our developers and financial crime analysts. Similarly the commitment and investment made by our financial institution clients who have agreed to participate in this pilot and play an active role in helping us develop, what is, a range of very powerful and effective financial crime analytics solutions has been visionary and outstanding."

He continued: "Financial crime is on the increase, there's no doubt about that. Most clients I speak to raise this with me, and its well known in law enforcement.   An economic downturn doesn't mean that criminals and terrorists stop working. In fact they work harder because they know that financial institutions and other organisations can lose focus in detecting fraud, money laundering, terrorism financing and preventing the financing of sensitive dual use goods and technologies for weapons of mass destruction.

Many of our clients have some powerful financial crime systems and processes in place, but they aren't being fine tuned or used as effectively as they should be. The solutions we've developed across international payment filtering, trade finance deals and KYC risk intelligence can really empower our clients to get significantly improved results and efficiencies when it comes to financial crime detection and prevention."

For all enquiries regarding Financial Crime Analytics, please contact:

Daniel McCallum - daniel.mccallum@financialcrimeanalytics.com
Ph: ++1 415 503 9268

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Financial Crime Analytics empowers financial institutions and other organisations to maximise their return on investment (ROI) in financial crime systems, processes and people through leading risk intelligence, identification and profiling solutions.