Franklin Mint Credit Union of Media, Pa., has implemented antifraud software from Aithent Inc.
The New York vendor announced last week that the credit union is using the Fraud Prevention and Investigation software to investigate potential fraud and money laundering and to comply with regulations that require financial companies to keep track of their customers' activities. The software monitors users' banking behavior to spot transactions and traits that could indicate fraud.
Laymen Grant, Franklin Mint's security officer, said in an Aithent press release that the software "is automating something that was done manually in spreadsheets where we tried to track everything by hand. It has greatly enhanced our processes on how we handle and track all our fraud issues with automated processes for detecting, investigating, and reporting suspicious behavior."
