Case Study: Large European Banks uncover money laundering schemes with ThetaRay

Large European Bank - Customer Case Study

Large European Banks worked with ThetaRay to address a major correspondent banking AML challenge after a newspaper report alleged that hundreds of millions of dollars had flowed through a money laundering scheme undetected. The banks lacked visibility and control over these cross-border transactions, and internal analysts spent six months reviewing hundreds of millions of records without fully understanding the scheme.

ThetaRay used its AI-led, on-premises analytics platform to examine the bank’s transaction data and identify hidden anomalies and bad actors. In just two weeks, ThetaRay analyzed more than 200 million transactions, flagged 8,400 suspicious anomalies, linked 56 customers to the investigation period, and uncovered 9 different laundering schemes, helping the bank produce SARs for the FIU and better explain the incident to stakeholders.