A2iA and LogicaCMG join forces TO block check FRAUD & money-laundering

LogicaCMGs HotScan product is the leading watch-list solution with 40% of the worlds largest banks as customers and installations in four continents. In France, in order to comply with the French CRBF 2002-01 “check auditing” ruling, LogicaCMG partnered with A2iA to optimize its AML (anti-money-laundering) offerings. These solutions deliver real business benefits, reducing fraud and ensuring compliance with international regulations. A2iA Corp., a worldwide leading developer of natural handwriting and print recognition technology (OCR, ICR, IWR, OMR) is integrating its A2iA CheckReader solution, so that fraudulent transactions and laundering can be spotted by verifying checks against various blacklists. LogicaCMG has been dealing with numerous filtering and behavioral-analysis issues. The new partnership with A2iA gives them a complete offering that effectively meets the requirements of changing legislation. A2iA CheckReader reads checks to make sure that compulsory fields – amounts, payee name, date, and signature – are properly filled in, and then recognizes amounts (CAR + LAR), the name of the payee, and the address block. This information is forwarded to LogicaCMG’s filtering solution, which then compares the fields recognized by A2iA CheckReader, the payee name and the address block, against official blacklists (maintained by GAFI, OFAC, and the “Journal Officiel”, among others) and internal blacklists, which are maintained by customers.