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Enhanced SAS® Anti-Money Laundering now quicker to detect suspect activity15 September 2006 - SAS, the leader in business intelligence, today underscored its commitment to the financial services industry with the release of a new version of SAS Anti-Money Laundering. Complementing its recently announced SAS® Money Laundering Detection, the new offering includes several enhancements to help institutions worldwide fight against money laundering. SAS Anti-Money Laundering now provides advanced analytics for detecting unknown types of behaviour, enabling banks to better display the flow of funds between accounts so they can be more effective in identifying suspect relationships and high-risk accounts. Also, the advanced analytics offer scenarios that detect variances against normal behaviour and expected activity, allowing banks to easily identify accounts having similar transaction behaviour which may signal possible illegal money laundering activity. The new version also delivers better transparency into customer transactions, making it easier for banks to see cases that have been closed or suppressed in support of audit and regulatory review processes. In addition, SAS Anti-Money Laundering provides visual clues, including background attachments to see if a case has been investigated and/or requires urgent attention. "SAS is known for listening to our customers and working with them on developing solutions to address specific business issues," said David Stewart, director of SAS' anti-money laundering programme. "This new version of SAS Anti-Money Laundering is a reflection of suggestions and recommendations from global financial institutions customers on how we can make this solution more powerful." Installed directly or through an application service provider, SAS Anti-Money Laundering is a sophisticated anti-money laundering solution that can take mountains of information from all areas of a financial business, manage and refine that information, and turn it into usable knowledge that will help a business automatically identify and classify suspicious behaviour. It can help banks meet stringent government regulations, protect shareholder confidence and maintain a strong reputation. The solution offers an integrated and open-ended architecture that lets banks gather information across data sources, transform the appropriate data into real intelligence, detect suspicious activity and accurately alert investigators and authorities.
SAS is the leader in business intelligence software and services. Customers at 40,000 sites use SAS software to improve performance through insight into vast amounts of data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products. Only SAS offers leading data integration, intelligence storage, advanced analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world
The Power to Know®
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