Why QDE's customers do not need to worry about money mules?

How QDE is Protecting Clients from Money Mules? [3/3]

[This series provides a comprehensive overview of the money mule threat, actionable steps for individuals, and industry-wide strategies to combat this growing issue. By raising awareness and sharing effective practices, we can collectively work towards a more secure financial ecosystem.]

Quantum Data Engines (QDE) is a 13-year old reg-tech company helping banks and financial institutions around the world fight and prevent financial crime and fraud. Here’s how QDE is enabling its clients to safeguard themselves from money mules.

Identify

• Customer demographics: Comprehensive information capturing and customer profiling with unified customer views.
• Behavioral indicators: Identifying potential money mules through unusual transaction patterns that do not align with known financial behavior.
• Anomaly detections: Advanced analytics using machine learning and predictive modelling.

Monitor

• Unusual activity: Consistency with account history.
• Unexplained activities: Transactions with no apparent economic or lawful purpose.
• Lack of rationale: Transfers between multiple accounts, related or unrelated.
• Unusual patterns: Drastic changes in transaction frequency or volume.
• Geographical risks: Transactions originating From or To risky jurisdictions.

Take Action

• Red-flag alerts: Transaction alerts specific to money muling
• Real-Time interventions: Real time response triggers for automated blocking and reversals.
• Comprehensive Reporting: Exclusive reporting workflows and automated reports generation

At QDE, we are committed to helping our clients identify, monitor, and take action against money mules. By leveraging advanced technology and industry best practices, we aim to create a secure financial environment where money mules have no place to operate.

To know more, write to [email protected]