Wolters Kluwer Financial Services has announced that has strengthened its Wiz Sentri: Anti Fraud platform to help U.S. and U.K. financial institutions prevent crimes tied to cash management activities, according to a press release. The enhanced solution helps financial institutions monitor for precursors to cash management fraud before losses are incurred, Wolters Kluwer says.
The platform allows institutions to continuously check for criminal activity such as account hijacking, kiting, insider fraud, ATM fraud, counterfeit check and identity theft-based scenarios. Profiles can be established based on historical patterns of transactional activity and the institution can be alerted to unusual transactions or transaction sets.
The solution also facilitates and helps automate investigations by providing a framework for gathering and managing important forensic information, according to the release. The solution records and stores relevant application data across the institution in a compressed and digitally signed format, providing a chain of custody of the fraudulent activity that may be used as forensic evidence in a court of law.
Wiz Sentri: Anti-Fraud plugs into an institution's existing network to reduce implementation time. It can monitor both legacy and Web-based systems using a single set of services, the vendor says.