Wire fraud is a serious problem in the U.S., stealing millions of dollars from consumers and legitimate businesses. According to a 2009 survey, about six percent of companies experienced wire fraud, up significantly from two years prior to the survey. The rise of e- commerce and online banking have made wire fraud more common, as an increase in electronic transfers of money has created growth in the opportunities for unscrupulous individuals to do mischief. Banks and financial institutions can protect themselves from wire fraud by using anti-fraud software.
http://www.oceansys.com/products.aspx?showprd=RETINA | Financial institutions have monetary and legal incentives for putting a stop to bank fraud and money laundering. Ocean Systems’ software provides risk analysis and security that can help banks ensure all transactions are legal and above-board.
http://www.oceansys.com/products.aspx?showprd=FEDLINK%20ANYWHERE | FedLink facilitates wire transfers, making the process easier and faster for financial institutions. The software also ensures international transfers comply with laws intended to prevent money laundering.
https://www.oceansys.com/products.aspx?showprd=OFAC-EDD%20SERVER | OFAC Screening Software offers banks a way to remain compliant and to identify parties that are participating in suspicious activity. OFAC Screening Software can monitor each and every transaction to ensure that a bank is doing everything in its power to identify these blocked persons or entities.
https://www.oceansys.com/ofac_solution.aspx | ¨Monitoring the OPEC Watch list for individuals identified as PEP can help international banks to ensure that they are always following the letter of the law. OPEC Screening Software can make this entire process much easier.