BANCPROTECT breaks new ground!

A bank’s risk exposure to the unauthorized movement of funds between deposit, time and loan accounts is tremendous. This is because millions of dollars daily are transferred between accounts, with many of those dollars moving between unrelated accounts!  In fact, approximately 40% of bank internal fraud involves the unauthorized transfer of funds. Until now, there had been no automated solution to detect and monitor internal funds transfers. Now, BancProtect has changed the game!

BANCPROTECT brings the money trail to LIFE!

“Following-the-Money” is the best technique for detecting potential fraud, non-compliance and abuse, but very time consuming and impossible to do manually on a wide-scale basis. BancProtect  automates the process by reviewing every transaction posted to deposit, time and loan systems, by all employees. BancProtect looks at the “source” accounts and “destination” accounts for each transfer and reports those transfers with no apparent relationship between account owners. BancProtect then generates Risk Alerts for investigation and risk assessment purposes.

BancProtect will find Money Laundering and Terrorist Financing activity that existing anti-money laundering solutions were never able to detect!  That’s the power of “following-the-money”!

BANCPROTECT generates powerful results immediately

The BancProtect system yields powerful results, starting from “day one”. Multiple dashboard and table views of alerts can be sorted and filtered to provide users with the ability to perform additional risk analysis by account, customer, teller, employee, etc.

BancProtect will detect money laundering and these fraud schemes:

  • Employee self-dealing
  • Unauthorized debits to deposit, time and loan accounts
  • Fictitious loans and straw borrowers schemes
  • Inactive and dormant account fraud
  • Internet banking fraud
  • Hidden internal accounts

IT’S the right time……

The timing has never been better for the BancProtect system as banks’ reputations and assets are under increasing attacks.  This is evidenced by 50% more internal fraud currently being found in the Banking and Financial Services industry than the next closest industry.*

The BancProtect system is an undeniable value that brings the following benefits to the table:

  • Protection of your organization’s reputation and bottom line
  • Intuitive and effective approach to risk management
  • Low cost of ownership
  • Efficiency from the use of an automated alert-based system
  • Compensating control for internal control weaknesses


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