Software that sounds an early warning if it detects money launderers at work could help banks clamp down on organised crime. The software, suggested in WO 02/44986 by computer company Unisys, checks every financial transaction a bank makes against 40 recommendations from the OECD. From this it generates a number indicating how likely it is that criminal activity is going on. A transaction that scores high on the risk scale can then be sent to a bank official for checking.
But it doesn’t stop there. If whoever is behind the transaction gets confident after an initial approval, and starts to shift more money around more frequently,…
