|
Let me help you understand what exactly Money Laundering means? In simple terms, it is the act of making money that comes from Source A look like it comes from Source B. Criminals all over the world use Money Laundering so as to disguise the origins of money obtained through illegal sources so it looks like it was obtained from legal sources. Otherwise, they won’t be able to use the money because it’ll then connect them to the criminal activity; and, this is what they don’t want. Once the origin of the money is found to be an illegal one, law enforcement officials will catch the culprits. And, this is what makes these perpetuators opt for money laundering tricks. Celent says spending on operations and technology related to anti-money laundering compliance will reach $5.8 billion in 2013-including $1.4 billion in internal and external spending globally. Imagine the kind of money that is going in money laundering! There is an urgent need for anti-money laundering system that can detect the very presence of a fraudulent activity. If you too are looking for a fraud prevention system, you better look for a centralized case management system that integrates with your core system to capture transaction and user data to spot potential fraud or money laundering. There is a very reliable and effective product in the market; this product, called Aithent Fraud Manager, accumulates data from multiple business segments and feeds it into a single database. This database is analyzed to spot suspicious transactions or users, as well as transaction patterns that can suggest fraud. These patterns and red flags are used to build a case profile that the credit union's management leverages to halt transactions, close accounts, and build reports for investigators, law enforcement or regulators. So, if you are looking for an anti-money laundering system, it’s the Aithent Fraud Manager that you should opt for. You can even search online for more information on how an organisation can prevent such frauds from taking place. Search for anti-money laundering software or system, and you’ll see a number of products there; take your time in comparing these products so that you end-up getting the most-suitable fraud prevention software for your company. Frauds are at all time high; more and more companies around the globe are reporting fraud cases; it’s time you get a protection cover; it’s time you empower your company with sound anti-money laundering software/system and prevent such frauds from taking place. Businesses of all types and sizes can better contend with the threat and impact of fraudulent activities with Web-based solutions from Aithent that are the most comprehensive on the market today. Log on to our web site for more information on anti-money laundering and fraud prevention systems/software.
Related Articles -
Anti-money Laundering, Fraud Prevention,
| 
