Dock reduces suspicious movement analysis time by 96% with AI

Dock claims to have reduced by 96% the time needed to evaluate cases of suspicious movements and, when necessary, report them to authorities such as Coaf (Financial Activities Control Council) and other bodies linked to the BC (Central Bank).

The process, which took 3 to 4 hours, now takes around 10 minutes, after a partnership with Vaas, a risk management platform, according to the company.

Vaas applies artificial intelligence to collect, consolidate and structure information used in risk assessment. Dock receives between 3,000 and 4,000 alerts per month, from monitoring movements and transactional behaviors. The selected cases require evaluation of customer registration, behavioral and transactional data, including counterparty data when applicable.

Analysts evaluate the identified evidence, the context of the movements and the transactional behavior, and formalize the conclusions in a dossier.

When the analysis identifies elements that constitute suspicion, the dossier supports the communication to Coaf (Financial Activities Control Council), a federal body that receives reports of suspicious operations from financial and payment institutions.

The initiative integrates the Msac (Monitoring, Selection, Analysis and Communication) process, a model defined by the BC (Central Bank) in the money laundering prevention rules for regulated institutions.

According to Bruna Moreira, director of financial crime prevention at Dock, before technology, the analyst would search, download, extract and organize information manually to assemble the dossier that supports the analysis and, when applicable, communication to the authorities.

With the new process, this step now occurs automatically, and the analyst concentrates his work on evaluating the evidence and the context of each case.

Risk matrix

Dock incorporates a risk matrix developed on the Vaas platform, which acts as a screening layer for alerts before risk assessment. Based on account data, customer profiles and transactional behavior, the matrix prioritizes cases with signs of atypicality or other risk factors.

The evaluation of evidence and the decision on reporting to authorities remain the responsibility of Dock analysts, while the technology performs the screening and structuring of information.