3VR customer Bank of Hawaii is among several regional and national bank chains using Searchable Surveillance in its fight against fraud.
Brian Ishikawa, VP and director of corporate security at Bank of Hawaii, says the system will help the bank monitor for known criminals and individuals on watch lists to prevent fraudulent transactions from occurring. Additionally, the bank can share watch lists across branches to defend against fraud threats throughout the entire system.
The 3VR system comprises four elements: SmartVideo – video technology designed to deliver high quality footage while optimizing storage and bandwidth; SmartManager an application suite that brings enterprise management to cases, systems, and watchlists; SmartSearch an event search engine for remote investigations and evidence review; and SmartFusion – an integration platform for new camera types, analytics, external data sources, and applications.
Check fraud, a key concern in US banks, is on the rise. There were 57,555 reported cases of check fraud in 2005, and about 64,000 in 2006, according to the chief of public affairs for the financial crimes enforcement network, a bureau within the US Department of the Treasury.
Before 3VR, banks faced insurmountable challenges in fighting check fraud and could only record losses on video as evidence, said Tim Ross, co-founder and executive vice president for 3VR. 3VR arms banks with the technology required to recognize and stop criminals from conducting fraudulent transactions, and the forensic tools to be able to quickly track a suspect’s history of activity.
