With the passage of Section 326 of the USA PATRIOT Act, financial institutions can be required by law to assess the risk that high-transaction customers may be laundering money. The information necessary to determine this does not reside in structured databases; rather, the most current information usually sits in the pages of unstructured information on the Web, as well as within other crucial information sources. WebFountain, IBM's Web-scale business intelligence platform, is designed to provide insight by uncovering relationships, patterns, and trends. This technology collects and analyzes pages of structured and unstructured data from a variety of public information sources to help financial services companies quickly assess potential money-laundering risks. Integrated with the WebFountain platform, the Semagix CIRAS application allows for Web-wide queries to be linked to other disparate sources of information. Based on unstructured data mining and semantic metadata technologies, the IBM-Semagix solution is intended to enable risk and compliance teams to cost-effectively respond to changes in legislation that influence anti-money laundering initiatives. This solution is positioned to complement a number of IBM's existing independent software vendor alliances with expertise in risk and anti-money laundering, such as Searchspace, Mantas, and SAS. (http://www.ibm.com), (http://www.semagix.com) |
