AXA Sun Life and Logica worked together on a proof of concept for an automated transaction monitoring solution to help detect financial crimes like fraud and money laundering. Logica helped identify AXA's highest risks and built test scenarios. The solution identified irregular payments, unusual policy holdings, and payments to high-risk countries. It allowed earlier detection of suspicious transactions and freed resources to investigate priority cases. AXA found the solution enhanced its fraud detection capabilities across different risks.

1. GLOBAL PRODUCTS BUSINESS
HOTSCAN
Committed to reducing
financial crime
AXA SUN LIFE - ANTI MONEY LAUNDERING
The threats posed to the Insurance industry by organised crime in the areas of fraud and anti-money
laundering are serious and increasing.
In line with the FSA statutory objective on reducing financial crime, AXA Sun Life and Logica have
been working together on a proof of concept for an automated transaction monitoring solution
“The Logica Proof which helps to assess the nature of the threat and potential responses from a fraud detection
of Concept helped perspective.
AXA Sun Life
identify which risks
could be best WORKING TOGETHER
mitigated using Experts from Logica’s Financial Crime solutions and Insurance Practices worked with AXA Sun Life
automated to identify and prioritise the fraud and money laundering risks in AXA’s life, investments, protection
and pensions business and define risk scenarios for the proof of concept. This analysis focussed on
transaction AXA’s products, channels and processes to draw out the highest risk areas and then assessed how
monitoring and automated monitoring could be introduced with regard to data quality and availability.
then produced real Logica, as the chosen technology partner for the selected software vendor, worked closely with
results against our them to build and test the risk views and alert definitions. In parallel, a set of scripted tests and
data. The solution typical data samples were built, and AXA Sun Life staff trained in the use of the product.
provided enhanced A joint AXA Sun Life and Logica team then executed the scripts over a two week period.
fraud detection
Logica also advised AXA Sun Life on the implementation strategy and assisted with the
capabilities across development of a business case for the full implementation.
fraud and money
laundering.”
Diane Cammidge, Fraud RESULTS
Manager, AXA Sun Life
AXA Sun Life found that the enhanced monitoring capabilities of the product allowed earlier and
more reliable identification of transactions that warranted further investigation. There is significantly
enhanced visibility of a variety of transactions including incorrect payments and foreign transaction
payments.
The AXA Sun Life fraud team were freed from time consuming tasks looking for unusual activity and
could instead focus on investigation of prioritised transactions.
Scenarios and successes included:
Payment irregularities
“out of the ordinary” payments identified which would facilitate more timely action.
Unusual patterns of policy holdings

2. AXA Sun Life discovered unusual patterns of customer policies holdings. This suspicious activity had
not been identified through existing detection controls.
The profiling undertaken within the software also allowed an automated determination to be made
as to what was outside the norm for the company demographic. These alerts have been assessed
as high risk activities that are undergoing further investigation.
Payments to High risk countries
A number of alerts were generated on the data supplied identifying payments to accounts in high
risk geographies.
In one of the first instances in the UK, AXA Sun Life and Logica have demonstrated that in the fight
to prevent financial crime, there is the potential for significant benefit from the deployment of
automated transaction monitoring capability.
WHY LOGICA?
With over 20 years’ experience in delivering financial crime solutions we are unrivalled when it
comes to improving cost-efficiencies. And with over 500 compliance and security experts globally
and a deep understanding of the complex regulatory landscape, we are currently supporting
organisations around the world to fight financial crime.
For more information please contact us at: GlobalProducts@logica.com.
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E: GlobalProducts@logica.com
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