Financial Crimes Network
"DATABASE TO FIGHT FINANCIAL CRIME
Banks throughout the Midwest U.S. can make use of a computer database called FinCrime that allows financial institutions and law enforcement to share information about crimes and provide warnings. Once check fraud or some other financial crime is committed, bankers and law enforcement personnel can enter information about the crime and the suspect into the database. FinCrime looks for matching information. 'Obviously the more participants we have, the more data we can gather in this electronic database, the more valuable it's going to be for participants,' said John Sorensen, president and chief executive of the Iowa Bankers Association. 'We're trying to expand it widely and keep the cost of participation at either nothing or very small costs... One of the unique things about our network is that it's going to be owned by state banking associations and that it will be provided really as a service as members of these state banking associations,' Sorensen said. (AP/USA Today 22 Aug 2003)"
"DATABASE TO FIGHT FINANCIAL CRIME
Banks throughout the Midwest U.S. can make use of a computer database called FinCrime that allows financial institutions and law enforcement to share information about crimes and provide warnings. Once check fraud or some other financial crime is committed, bankers and law enforcement personnel can enter information about the crime and the suspect into the database. FinCrime looks for matching information. 'Obviously the more participants we have, the more data we can gather in this electronic database, the more valuable it's going to be for participants,' said John Sorensen, president and chief executive of the Iowa Bankers Association. 'We're trying to expand it widely and keep the cost of participation at either nothing or very small costs... One of the unique things about our network is that it's going to be owned by state banking associations and that it will be provided really as a service as members of these state banking associations,' Sorensen said. (AP/USA Today 22 Aug 2003)"