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  • 26 October 2012 12:37

New SAS® Financial Crimes Suite: fight smarter, faster

Features high-performance analytics for anti-money laundering

With corporate reputations and millions of dollars on the line, the need to effectively combat financial crimes has never been greater. Featuring high-performance analytics for fighting money laundering, business analytics leader SAS has a new suite of software that helps manage and deter financial crimes even more efficiently.

With initial components generally available in Q1 2013, SAS® Financial Crimes Suite is built on SAS’ industry-leading analytics and information management technology. Organisations can use the flexibility of interconnected modules to roll out either single or multiple modules, decreasing implementation times and improving results.

The new anti-money laundering solution includes enhanced scenario tuning and what-if analysis. This technology dramatically reduces the time – from hours to minutes – it takes to provide investigators relevant information, conduct preliminary analyses and identify areas that need further attention, such as suspicious transactions or unusual patterns. This gives them more time to focus on the most critical cases.

The SAS Financial Crimes Suite brings together multiple SAS solutions and technologies for detecting, preventing and managing financial crimes including money laundering and fraud. Suite components include data management, detection and alert generation, alert and case management, predictive alert analytics and fraud detection built on category-specific workflow, and advanced analytics including entity-link analysis. By sharing information through a single suite, organisations can have a holistic, behaviour-based view to more accurately detect suspicious behaviour. With this SAS enterprise suite, firms can also budget and deploy in phases, helping them to focus on the most pressing issues now, and yet confidently expand to address emerging risks in the future.

The suite's configurable alert management provides a unified view of all work in progress across channels, giving investigators better insights for taking action to reduce risk, fight fraud and improve results. Dashboard reporting shows key performance indicators so analysts, investigators and managers can continually monitor areas of specific interest.

SAS Financial Crimes Suite also offers cross-channel visibility using entity link analysis, a common ground for information sharing and collaboration. With it, firms can measure risk for a group of entities, uncover previously unknown collusive activities and better understand their overall financial crimes exposure.

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