November 12, 2009

Minneapolis-based Wolters Kluwer Financial Services announced on Wednesday that it has enhanced the investigative services functionality of its Wiz Sentri: Anti-Fraud solution, which helps prevent fraud by detecting the precursors of fraudulent attacks via continuous, real-time monitoring of activity and behavior.

The solution includes new relationship analysis capabilities that, Wolters Kluwer says, enable fraud investigators to quickly uncover correlations between customers, their accounts and employees that may be involved in or impacted by a criminal scheme by providing a visual display of links between those entities, helping them to identify complex relationships and activity patterns.

In addition, the enhanced investigative services enhancements allow management to more effectively assess current risk levels to the institution through detailed and configurable reporting tools and case management dashboards, according to a press release.

"The mere detection of suspicious activity does not mitigate fraud or its associated monetary losses within a financial institution," Todd Cooper, vice president and general manager of Wolters Kluwer Financial Services' Financial Intelligence Unit, said in a press release. "Identifying suspicious relationships and behavior prior to an actual loss is a key strategy of effective anti-fraud programs. The enhancements we've made to our Wiz Sentri: Anti-Fraud solution will help fraud investigators move from detecting fraud to preventing fraud. We assist our customers in preventing fraudulent transactions before they occur and therefore avoid losses instead of merely noticing them."