By John Leyden, 23 Sep 2014
UK banks will receive real-time warnings about threats to their customers' accounts as well as the overall integrity of their banking systems from a new financial crime alert system.
Financial Crime Alerts Service (FCAS), which is being rolled out by banking industry association BBA, is designed to allow financial crime professionals to spot emerging problems and criminal trends based on data from 12 government and law enforcement agencies - including the UK's National Crime Agency (NCA).
The system, put together by BAE Systems Applied Intelligence, is designed to provide an early alerts about a variety of threats.
When it goes live, planned for early 2015, the BBA Financial Crime Alerts Service will include warnings on terrorist financing, money laundering, bribery and corruption, cybercrime and fraud. Subscribers will also get "emergent, thematic and strategic reports" through the same online information hub.
The Register/ full article here/ http://www.theregister.co.uk/2014/09/23/uk_bank_fraud_alert_system/
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