Unisys is demonstrating a new technology solution designed to help banks detect fraud and money laundering transactions. The Unisys Anti-Money Laundering (UAML) solution builds both customer and transactional profiles - individually and generically - against which future transactions can be compared and suspect ones called out.
"UAML is not designed to turn bankers into policemen - neither the bankers or police want that," states Rowan Bosworth-Davies, principal consultant, Unisys strategic global business development programme. "Rather it is intended to direct the normally limited compliance resources within an organization to the most suspicious transactions."
The free-standing, rules-based system automatically identifies and prioritises suspicious financial transactions according to international "best-of-practice" compliance standards, says Bosworth-Davies. The system provides a full audit history and may be continually updated via a dedicated Web site.