On November 1, 2004 Verafin released an enhanced version of its customer intelligence suite which fully integrates anti-money-laundering, fraud detection and watch list checking. The following is a high level overview of the key product features.

Large Cash Transaction Reporting
identifies large cash transactions as defined by FINTRAC and FinCEN regulations collects information from banking platform pre-populates required reports allows reports to be edited and shared with others electronically submits reports to regulatory agencies addresses FINTRAC, FinCEN, OSFI, OFAC, BSA and USA PATRIOT Act requirements

Suspicious Activity Detection and Reporting
scans transactions daily and weekly identifies suspicious activity assigns risk value ranks customers to allow quick assessment of potential risk provides extensive selection of graphical views allows user to open and track cases pre-populates required suspicious activity reports electronically submits reports to regulatory agencies

Watch List Checking
checks account holders against OSFI and OFAC lists uses advanced phonetic algorithms flags positive matches alerts compliance officer accommodates internal watch lists maintains exemption lists

Customer Risk Scoring
produces a risk score for each customer based on account opening profile updates customer risk score based on new products and type of activity

ATM Fraud
identifies unusual patterns resulting from stolen or skimmed cards identifies unusually high velocity transactions, unusual location and excessive usage fuses evidence to identify various fraud scenarios provides investigation tools to manage cases

Cheque Fraud
identifies unusually large cheques identifies patterns associated with cheque kiting fuses evidence to identify various fraud scenarios

Online Banking Fraud
identifies unusual online activity identifies large transfers into new accounts identifies high velocity withdrawals

Case Management
allows user to open and track cases allows user to add supporting evidence documents provides an investigation trail for audits allows user to assign priority level to cases allows cases to be shared with others

Link Analysis
compares customer names and addresses links accounts with matching information allows user to verify or reject link results groups accounts for analysis

Security
ensures high level of security for customer information and transactional data encryption firewalls digital certificates PKI technology

Technology
available as ASP version or in-house installation supports both Windows and Linux servers supports Microsoft SQL Server 2000, MySQL, Oracle and DB2