BearingPoint teams with Mantas for fraud detection service
01 May 2003 | 4696 views | 0
Consulting and systems integration firm BearingPoint has joined the Mantas Global Alliance Programme and will work with the vendor on developing, implementing, marketing and supporting fraud detection and anti-money laundering solutions.
Mantas' behavior detection platform is designed detect fraudulent activity including money laundering and stock market manipulations.
The platform monitors every transaction and account across a firm and utilises rule matching and text mining, combined with a series of proprietary and complex algorithms such as Link Analysis, to find hidden relationships between accounts. Sequence matching, which displays events in chronological order and finds sequentially numbered monetary instruments and other suspicious patterns of activity, is also used.
Sarah Diamond, a managing director and the segment leader for capital markets with BearingPoint says in order to detect the suspicious activity, a firm must be able to analyse events in context to identify patterns.
"BearingPoint and Mantas can help clients evaluate what they need, then put the technology in place to do the job," she says.