Client case: Retail bank

By 10 November 2016Client cases

For a number of banks BusinessForensics has configured the routines for monitoring the prevention and detection of FEC risks, including risks in money laundering, fraud and financing terrorism.

All monitoring rules configured in BusinessForensics produce a score. These monitoring rules are combined in scenarios (meaning: for every scenario the scores are weighed and aggregated). Some examples of scenarios are: phishing, marketplace fraud or the ‘man-in-the-middle’ scenario. We present the results of the continuously monitoring rules for each customer of the bank, so we assess which scenario is relevant to what extent for each customer of the bank. We determine this based on the aggregated score for each scenario. Customers that score very high on scenario 1 and customers that score on multiple scenarios, are expected to have more risk.

The customer with the most risk obviously heads the list. This is how the list is presented based on the generated alerts, as a consequence of the consolidation of risks per customer. By working the list containing customers with risk from top to bottom, the most risky customers are assessed first and the largest risks can be mitigated first. The procedure to generate alerts can be configured in such a way, that the overall list with risky customers has approx. 1% of the total number of customers (an internationally accepted standard for transaction monitoring).
Of course we deliver lists for each scenario (which customers are most vulnerable to a specific scenario) and lists for every monitoring rule, but those are elaborations or details. The main goal is to obtain insight into the integrity risks of the bank when serving its customers.

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