Laundering and Anti-Fraud Tools at Michigan First CU
Automated anti-fraud and money laundering tools are now in place at the $625 million Michigan First Credit Union in Lathrup Village, Mich.
The suburban Detroit credit union has deployed the Aithent Fraud Manager fraud, anti-money laundering and risk management solution now in use at about a dozen other credit unions, the New York City company said.
“Almost every field can be customized to fit the needs of the credit union. Some of these include the type of case, sub-categories, check or loss type, incident origin, source, case status and more,” said Jeff Rolph, director of risk management at Michigan First.
“It also gives us the ability to add and name other investigative units to use the system, segregate one group from another and add users, assigning them access rights. Further, we’re able to scan all case documents into the case file, including surveillance photographs, case notes and transactional fields," he said.