Transaction risk management specialist Actimize, a subsidiary of NICE Systems, plans to unveil a new survey today that explores how well, or not, financial institutions are at lifting their fraud investigative tools from product or divisional silos.
A couple of nuggets from the survey include how 53 percent of respondents reported they didn’t fully investigate suspicious activity alerts, placing them in what Actimize termed the “auto-close” category. But 67 percent of firms plan to integrate anti-money laundering and fraud investigation efforts into a single-case management system within two years—a crucial upgrade to uncovering insider fraud.
Such a single-case system has been implemented by DBS Bank in Singapore, which last week announced a financial crime surveillance system deployed through a Unisys Corp.-Actimize partnership.
