A research project supported by U.K. think tank Royal United Services Institute identified 15 information-sharing tools to help banks identify illegal transactions, The Wall Street Journal reports. Countries such as the U.S., U.K. and the Netherlands with bank information-sharing platforms employ several tools like identifying money mules or secure messaging for banks on the platform. One “cutting-edge” tool is the Transactie Monitoring Nederland, which features the five largest Dutch banks. The platform allows them to pool encrypted transaction data about its customers and look for “unusual transaction patterns.”
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