HERNDON, Va. – Northwest FCU said yesterday it has implemented SAS Anti-Money Laundering, part of the SAS Enterprise Financial Crimes Framework for Banking from a provider of business analytics software and services.
The $2 billion credit union monitors a wide variety of fraud scenarios and risk factors – such as large cash withdrawals and deposits, wire transfers, the velocity of debit card activity and money structuring. The pre-defined scenarios and factors in the SAS solution helped the credit union adapt quickly to the new system, the company said.
