Cap Gemini Ernst & Young and Norkom Technologies have developed a detection and prediction system to help combat an estimated $3 trillion (£2.1 trillion) of global money laundering each year.
The system, Money Laundering Detection and Prediction (MLDAP), analyses operational transactions and monitors suspicious money flows. It also helps financial institutions to fulfil regulatory requirements.
Cap Gemini Ernst & Young contribute financial services, regulation and systems integration expertise, which is combined with Norkom's software Norkom Alchemist.
Norkom spokesman Karl O'Connell said: "MLDAP will not only analyse operational transactions, but the sophisticated software will also look into the behavioural aspects of suspicious individuals.
"Cap Gemini Ernst & Young has also analysed all the regulatory requirements and pre-built in a set of operating rules, making it considerably easier for companies to evidence their compliance," he added.
