New Task Force to Tackle Money Laundering and Fraud

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06/07/2010 - Callcredit Information Group has teamed up with its existing partner Tait Walker Chartered Accountants and the University of Sunderland’s department of Computing, Engineering and Technology to create new software for tackling specific areas of financial crime as part of a Knowledge Transfer Partnership (KTP).

This KTP is a part-funded government programme that aims to share skills, expertise and resources between businesses and universities.

The project is expected to last two years and will utilise the expertise of all three organisations to develop a unique and innovative piece of software to be used in the fight against money laundering, local housing fraud and other financial crimes.

Callcredit already offers a number of innovative products and services helping client organisations in the fight against financial crime. But this partnership will see the development of a powerful new tool bringing considerable and distinct benefits to users.

Tait Walker are experienced in forensic accounting, with experts in financial fraud investigations, breach of contract and other legal disputes. This expertise adds insight into the methods and processes used in money laundering and other serious financial crimes.

The University of Sunderland’s team will use the information and expertise of both Callcredit and Tait Walker to create a complex and bespoke software package focusing on varying types of fraud, money laundering and serious financial crime.

Graham Lund, Managing Director of Callcredit said; “We consider this project to be a very important and positive step towards addressing the increasing levels of financial crime. The partnership combines three distinct organisations that share a great determination to create an authentic solution to these very real issues. Tait Walker, already uses some of our wideranging products in this area, so we’re excited to be part of such an ground-breaking innovative project.”

Frank Nesbitt, Forensic Services Manager, at Tait Walker Chartered Accountants said; “We have over 30 years of experience in forensic services and forensic accounting and now have a resident expert and consultant in anti money laundering procedures. As a customer of Callcredit we understand the experience that they have in creating products to protect against financial crime. With Sunderland University onboard we believe we have a partnership that is excellently equipped to tackle this very serious issue and we’re proud to be part of such an industry-leading project.”

Alastair Irons, Head of Department in the Department of Computing, Engineering and Technolgy at University of Sunderland said; “As a leading team in artificial intelligence and digital forensics we have a wealth of experience in creating complex and unique pieces of software, however this project is the first that we have worked on to target financial crime. The diverse partnership is a considerable strength in itself, as each party is able to gain knowledge that it would otherwise not benefit from. We are confident that together we will have created a valuable and sought-after piece of software.”

News Source : New Task Force to Tackle Money Laundering and Fraud