Cognitive Search & Analytics Prevents Money Laundering for a Leading Financial Intelligence Unit.

This case study describes how Sinequa is being leveraged in the never-ending battle against financial fraud.

The challenge

Investigators at the financial intelligence agency maintain lists of suspects and need to rapidly decide for each suspect if they will let go or create a case for further analysis. In order to make informed decisions, they must be able to obtain supplementary information from other reporting entities and must have access on a timely basis to relevant financial, administrative and law enforcement information. In the current age of “big data” these activities have become increasingly difficult to perform accurately and rapidly, as investigators need to identify fraud and cyberattacks across increasingly large data volumes.

The 360° view approach employed by the financial intelligence agency provides an effective way to be more proactive in the fight against fraud. For example, imagine a comprehensive view of transactions, people, phone calls, email, and travel patterns, the connections between which reveal suspicious patterns that help investigators move a case forward. By automatically aggregating all of the information relevant to a given case across disparate repositories and data sets, investigators have better insight and a more complete view as to the likelihood that fraud has occurred, is occurring, or will occur. It helps focus investigative action to those transactions that are suspicious or even illustrate control weaknesses that could otherwise be exploited by fraudsters.