Sandbar

By law, financial institutions must monitor transactions for illicit activity. However, most institutions find it difficult to do so effectively. Roughly $6T is laundered every year and $180B is spent on anti-money-laundering efforts by US institutions. Despite this, less than 1% of laundered money is identified correctly. We are also seeing many systems produce false-positive rates of over 95%. Consequently, banks and the government must spend extra time and resources on extraneous investigations, taking away resources from finding criminals.

To provide better results, we ingest millions of messy data points, standardize that data, and run a complex suite of proprietary calculations designed to detect suspicious activity. Our product automatically monitors activity and helps risk teams by putting necessary information at their fingertips. We provide information accessibility, build intuitive workflows, and allow for custom processing. Doing better can help cut off funding for kidnappers, human traffickers, terrorists, scammers, and other bad actors as well as reduce the effort and costs associated with developing and maintaining internal AML programs.