Fraud Manager Wires

PROTECT YOUR BANK WITH AN ENTERPRISE WIRE FRAUD SOLUTION

As an efficient method for quickly transferring large sums of money, wire transfers are extremely attractive to criminals. And because wire transfers can involve several banks and wire transfer systems, they offer a convenient method for money laundering.

Recent news has exposed banks' vulnerabilities with regard to this growing threat:

• Online wire transfers are convenient to customers, but can allow criminals to access customer accounts more easily.
  
• Identity theft and account takeover schemes often involve high dollar wire transfers.
  
• Uncollected or fraudulent deposits used to fund a wire transfer may not be discovered until after a wire transfer is complete.

CORE™ Fraud Manager Wires provides proven detection capability to analyze wire transfer requests across the enterprise. Drawing on a wide range of transaction data including customer account profiles, historical data, beneficiary information and funds destination, the system automatically blocks suspicious transactions and alerts the appropriate bank personnel.

Fraud Manager Wires operates on the CORE Fraud Manager platform for integrated, enterprise fraud detection and risk management. Fraud Manager's advanced transaction monitoring, automated response, reporting and investigation capabilities help organizations significantly reduce losses and increase risk management efficiency.

BENEFITS

• A real-time solution for monitoring outgoing wire transactions
  
• Prevents significant losses by presenting suspect transactions prior to being sent
  
• Offers flexibility to monitor over the counter, telephone and online wire transfers
  
• Successfully identifies fraudulent originator or beneficiary activity
  
• Adapts to different market segments and unique clients through user-defined detection values and variables
  
• Provides a web-based solution for easy user access
  
• Reduces false alerts and improves accuracy by allowing banks to employ negative lists, positive lists and exempt lists
  

For more information about this solution, download the brochure (PDF, top right). You can also contact Deirdre Millard at 770.422.1629 or complete our Information Request Form.