AML version 4.1 offers improved investigative and detection capabilities, such as the ability to track balance inquiries and changes in personal identification numbers for potentially fraudulent patterns. The application's search capabilities have been improved. And the software now has the ability to integrate alerts from outside the Searchspace system, which can be combined with AML's workflow and case-management tools.
Searchspace boasts a customer roster of many of the world's largest banks, including the Bank of Scotland, Bank One, Barclays, Lloyds TSB, Royal Bank of Scotland, Wells Fargo, and Washington Mutual. Banks are required to bolster their fraud-detection capabilities under the USA Patriot Act and other regulations aimed at curbing terrorist funding. The Searchspace AML application is used by banks to monitor more than 400 million accounts a day.