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| NetEconomy's New Weaponry in the Fight Against Financial Crime NetEconomy has announced new financial crime fighting capabilities in its award-winning ERASE Financial Crime Suite solution. Responding to market demand for holistic solutions that drive business value beyond compliance, the company expanded its reach in the financial crime arena and improved its functionality in a number of market categories. The latest version of the ERASE Financial Crime Suite solution boasts expanded functionality in four major areas of financial crime: money laundering, fraud, market abuse and employee fraud. NetEconomy upgraded its award-winning money laundering solution with the addition of extensive workflow features and the Automated Priority Module (APM) capability that automates the exhaustive, manual process of teller/branch suspicious activity report (SAR) investigation. The APM saves time, resources, and money - with one bank reducing 50% of the investigations (or approximately 200 cases) being performed without any manual intervention, saving this financial institution an estimated $750.000 a year. The Fraud Prevention Module incorporates information from existing identity theft, card fraud and check fraud systems, pooling the data into its ERASE's Suspicious Activity Monitoring engine (SAM) for analysis and active case management of any irregular transactions. Significant updates to NetEconomy's market surveillance technology ensure an organization's ability to comply with new international regulations, particularly MiFID, as well as the EU Market Abuse Directive and SEC and Capital Adequacy initiatives. The new Market Surveillance Module provides sophisticated monitoring functionality for brokers, traders and clients, in addition to insider monitoring. Advanced employee monitoring and link/network analysis provide an precautionary line of defense to detect internal fraud threats and prevent the manipulation or misuse of financial information. write your comments about the article :: © 2006 Computing News :: home page |