SAS Financial Crimes Suite

The SAS Russia/CIS company, the developer of solutions and services in the field of a business intelligence, provided in the fall of 2012 a solution package, allowing to counteract more effectively financial crimes — SAS Financial Crimes Suite. The flexibility, a full integration of the modules and solutions entering a packet and also possibility of step-by-step deployment are designed to reduce an implementation time and to accelerate receiving return from solutions, says the company.

In SAS Financial Crimes Suite the different solutions and technologies of SAS allowing to reveal, prevent and investigate financial crimes, including money muling and different types of fraud are collected. Such components as data management, identification of suspicious cases, creation of notifications, management of notifications and investigations, forecasting of cases of fraud based on technologies of profound analytics, including the analysis of indirect couplings between objects enter a packet. Having collected and having generalized all information by means of a single solution package, the companies have an opportunity to see a complete picture of the events and more precisely to reveal suspicious behavior, emphasized in SAS.

The companies can implement a solution package step by step, having broken the project into phases. It allows to focus on the solution of first-priority problems of business and to gradually close risks which can arise in the future.

According to developers, in a packet of SAS Financial Crimes Suite all advantages of technologies of high-performance analytics of SAS High-Performance Analytics, including opportunities of flexible configuration of scenarios and carrying out the analysis "that-if" are used. High-performance analytical tools significantly — from o'clock — reduce time which is required to researchers and analysts for collecting of necessary data, carrying out the preliminary analysis and identification of the areas requiring in the future special attention, for example, of suspicious transactions or unusual schemes of behavior to minutes. An opportunity to quickly receive analysis results increases convenience of work with information and leaves more time for focusing on the most important tasks.

The system of setup of notifications and management can be connected by them to several solutions that will allow to receive the uniform unified picture in all cases and investigations which are in work. Thus, the employees responsible for security and conducting investigations will be able to understand better what actions need to be taken for risk reduction, counteraction to fraud and increase in effectiveness of investigations, claim in SAS. Meanwhile, the panel of the reporting allows to see and trace key performance indicators (KPI) so analysts, managers and investigations experts can conduct continuous monitoring on the important areas requiring their attention.

In turn, the possibility of the analysis of interrelations between objects from different areas allows to use SAS Financial Crimes Suite for joint work and information exchange between different divisions of the organization. During such work it is possible to calculate risks for an object group, to reveal the transactions and actions not known earlier made on collusion and more precisely to assess damages from financial crimes.

"With development of mobile banking and use of the mobile subscriber account for payment of services and goods criminals will continue to use weaknesses in security systems — the director of research of consulting company CEB TowerGroup Jason Malo pointed to the need for the latest solutions. — The major step improving tracking and investigation of operations with all channels is creation of multi-layer system of security based on the general technology infrastructure".

"Considering reputational risks and probability of loss of millions of dollars, need of fight against financial crimes never before was particularly acute so. Development of financial services, including various payment methods of goods and services and the systems of instant translations, leads to increase in volumes and sources of information on transactions. It complicates their operational monitoring and tracking of suspicious transactions — the Head of Department of risk management and warning of fraud Nikolay Filippenkov emphasized. — In such conditions the integrated specialized solutions for counteraction to fraud and laundering of illegal income constructed based on high-performance analytics and working in the mode close to real time are necessary". According to him, solutions of a line of SAS High-Performance Analytics bring work with information and decision making processes to essentially new level — both on speed, and on quality. "Certainly, our clients from the financial sector will strongly benefit from the fact that such tools entered a new solution package of SAS Financial Crimes Suite" — Nikolay Filippenkov is sure.