Financial crime and fraud affect all financial institutions but are particularly dangerous in banking sector. It is important for each organization to detect them and counteract effectively.
There are different kinds of financial crime. When it is committed directly against financial institution then we talk about fraud. When the offence is committed with the aid of services provided by the financial institution, then it is likely that we could be dealing with “money laundering” activities.
Banks are obligated by law to combat "money laundering". The Polish Parliament Act of 16th November 2000 on "money laundering" counteracting and terrorist financing together with the Amendment of 25th June 2009 requires financial institutions to register, analyze and report to Head Inspector of Financial Information about any suspicious transactions as well as about all financial transactions with monetary value over fifteen thousand Euro.
Another problem in the financial industry is fraud, which affects all banking sector, in particular credit providers. In prevalent cases of identity theft,,where one person uses another person's private identifying information to obtain money, it is crucial to detect fraud very quickly - in the time between applying and signing the credit or loan agreement.
To combat financial crime and fraud effectively it is necessary to employ appropriate IT system which allows to detect and prevent against any attempts of financial offences promptly.
BSB offers IT solutions to both aforementioned issues i.e. money laundering and frauds. These solutions are: SPERT - System for Electronic Transactions Register and fraudSPERT - system dedicated to comprehensive support for detection of fraud attempts.
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