New Surveillance Technology Nabs Known Fraudsters and Money Launderers in the Act

July 31, 2006 | Coverage

Trade in endless video review for a Google investigation model

It’s the scenario that every bank dreads, but so many have been victim to. A fraudster hits up multiple branches of an institution, racking up thousands of dollars in losses.The bank remains unaware of the problem until a confused customer brings it to their attention. By this time, security officers have to dredge through hours upon hours of video to begin an investigation.

This isolated incident repeated ad nauseum adds up to banks writing off an estimated 12 billion dollars a year in fraud loss. Up to this point, financial institutions have just not had the ability to catch up with individuals who can slip in and out of branches and identities in moments. But now a San Francisco-based surveillance technology company, 3VR Security, wants to give you a running start with its Intelligent Video Management Systems (IVMS).

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