Fraudsters targetting smaller firms
NEW YORK – Anti-money laundering and risk management software firm Mantas announced two new clients in May, as well as the launch of its MantasOne platform specifically for small and medium-sized financial institutions.
"Where have all the criminals gone?" asks Alan Mangelsdorf, head of marketing for Mantas in New York. "They are going to smaller institutions." Mangelsdorf says because larger banks have implemented sophisticated anti-money laundering and fraud protection platforms, criminals are now trying their luck with second and third tier institutions, as well as firms in geographic locations that are
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