IDEA Account Activity App

The IDEA Account Activity App was jointly designed by Focus Technology Group and CaseWare to identify fraud, errors and omissions and money laundering related to deposit and time accounts.  Eight robust tests are provided:

Deposit Account Takeover

Identifies and reports inactive deposit accounts with maintenance changes to customer file data occurring in the last 90 days that are followed by transaction activity.  Two specific inactive account scenarios are addressed:

  • Accounts open under six months with no activity since opening date
  • Accounts with no activity for six months

Dormant Account Manager

Identifies and reports accounts with: 1) invalid account type codes that may prevent accounts from being classified as dormant; and 2) dormant status conflicts where the dormant status is not consistent with the number of days the accounts has been inactive.

Inactive Accounts Manager

Identifies and reports transactions to inactive deposit transaction accounts during a “pre-dormancy” window and reports the ransaction details.  The “pre-dormancy” window is 75 days for chequing accounts and 150 days for non-checking accounts”.

Certificate of Deposit Early Withdrawals

Identifies and reports Certificate of Deposit  (CD) withdrawals equal to or greater than a “user-selected” percentage of the original balance.   A Risk Score based on the remaining CD balance and remaining CD term is calculated and reported for each CD account that had a qualifying withdrawal.

Maintenance Transactions

Identifies and reports all maintenance activity to deposit accounts.  Both data prior to the change and after the change are reported.

Service charge manager

Performs the following validations and reports exceptions: invalid service charge data; service charges to protected accounts; service charge plan not defined; service charge waivers; and service charge overrides.

Internal and Employee Account Transaction Monitor

Identifies Employee and Internal accounts   through the analysis of: 1) employee account codes and 2) external file of employee tax identification numbers, names and addresses.  Reports transactions individually and in summary to identify abnormal activity.  This test also detects employee and internal accounts that are not coded and reports transactions to these accounts.

New Account Money Laundering

Identifies and reports new accounts with large spikes in the number and dollar amount of deposits between two periods of time: the first two months after the account opening date, and months three through five after the account opening date.

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