Case Study

Canadian Bank Prevents Money Laundering and Bank Fraud

Economic crimes, fraud and money laundering pose major challenges for every financial institution. While needing to detect malicious and abusive activity across channels as early as possible, financial institutions also need to ensure they don’t unnecessarily infringe upon the banking activities of good customers while concurrently maintaining regulatory compliance. The key objective: identify only those actions that truly represent possible fraud and money laundering.

Identifying and Isolating Money Laundering and Fraud

When the Canadian federal government instituted stricter regulations for monitoring and preventing money laundering, one of the country’s leading banks needed to enhance its ability to detect suspicious activity. Achieving this objective required enhanced customer profiling/due diligence as well as a reduction in false positives for alerts. This would allow bank analysts to focus more time on identifying activities that could potentially result in money laundering.

ACI Fraud Management for Banking Helps Bank Accurately ID Fraud

The bank utilized ACI Fraud Management for Banking and leveraged the expertise of the ACI Fraud Consulting team. ACI advised the bank on how to maximize its investment in the solution, which included applying customer profile tables and creating specific logic to generate the most accurate and highest-value alerts.

Bank Achieves 98% Fraud Detection Rate

The bank reduced debit card fraud alerts by 84% through the use of new profiling technology where refined business logic can be developed into key risk indicators; these criteria offer higher validity and reliability than previous methods and arrive in a minimized false-positive environment. The bank also reduced anti-money laundering (AML) alerts by 50% while experiencing a lift to a 98% fraud detection rate. The improved system efficiency has allowed the bank to reduce the dedicated resources required for fraud monitoring by 50%.


Less Debit Card Fraud


Less Anti-Money Laundering Alerts


Fraud Detection Rate