Merrill Lynch selects Mantas to detect money laundering
08 November 2002 | 4223 views | 0
Merrill Lynch is to implement technology from Mantas to detect money laundering activity across its accounts.
Mantas' Behavior Detection Platform detects and analyses suspicious and illegal behaviour.
The bank will be using the system's Money Laundering Monitor and Broker Surveillance Monitor to alert compliance officers to suspicious account activity and employee behaviour, including transactions in accounts without investment activity, rapid movement of funds, transfers between unrelated accounts, sudden changes in account activity, employees front-running an account and brokers soliciting unapproved products.