What does FinCrime accomplish?
By providing a confidential and secure way to share information about fraudulent transactions, participating financial institutions are made aware of fraudulent activity in their area, usually sooner than they would be able to identify it by themselves. This early awareness allows them to take action to prevent fraud losses. Also, the shared database provides opportunities to build fewer but larger “multi-bank” cases out of smaller individual losses, helping financial institutions and law enforcement focus on organized crime and repeat offenders.
