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Financial Investigation

Appears in the issue.

Fortent of New York City has introduced an advanced case management tool to support its financial crime software suite. The new system allows banks, securities firms, and insurance companies to standardize and streamline the investigation process. Its built-in business logic is based on a set of industry best practice rules specific to the type of case, including fraud, employee theft, and money laundering. For each type of case, the system contains templates that identify and integrate the data elements and evidence. The solution allows multiple points of entry for cases, whether the source is a transaction monitoring system or an eyewitness account. It creates an electronic folder that can be tailored for an organization and that reduces human error. It can automatically populate Suspicious Activity Report forms for multiple regulatory bodies, including FinCEN in the United States, SOCA in the United Kingdom, and JAFIC in Japan.

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