Uncovering organised crime networks within the banking sector

Uncovering organised crime networks within the banking sector

Numerous investigations into the banking and finance sectors in Australia and the United States in recent years have found deep links to serious and organised criminal groups. These groups have been exploiting governance loopholes within banks to undertake activities including money laundering, fraudulent loans, insurance scams and illicit online purchases.

Much of this activity slides under the radar of banking organisations who are drowning in data and often lack the tools to effectively identify criminal networks. This places them at risk of reputational damage or legal and regulatory sanctions.

The Issue state

Tracking the presence of the Comanchero Outlaw Motorcycle Gang within Australian financial institutions.

The Situation state

The Comanchero are a highly organised and influential outlaw motorcycle gang. Originating in Australia, they have evolved into one of the most damaging organised crime networks in the world.

In late 2019, a patched member of the Comanchero and his business partner, who also had close connections with the gang, were murdered in bushland in Queensland, Australia.

Starting with these two key figures, Fivecast Onyx was used to map a network of Comanchero members and associates within Australian financial institutions.

The Solution state

Our first step was to build the social media network surrounding the two murdered individuals.

Using just this small amount of information (the names of the two individuals), Fivecast Onyx was used to rapidly collect relevant data from the accounts of more than 26,000 individuals, which not only identified members and associates of the gang and other business affiliates, but also picked up many more discreet linkages.

Using this initial data, we then ran the 300 accounts most closely associated with the Comanchero against complementary data sets from both open and deep web sources, uncovering a network of connections and a wide range of entities (such as mobile phone numbers, email addresses and company names) that can be checked directly against their data by financial institutions.

The Outcome state

As a result of the analysis, we are able to provide tailored reports to the financial sector, to identify touchpoints (such as accounts or other interests held by criminals or their associates) of criminality within banking organisations.

The analysis identified the huge potential for the banking and finance sector to use Fivecast Onyx to monitor its customer database for individuals and linkages worthy of closer inspection.

This would more effectively manage reputational risks associated with criminal activity, allow the finance sector to get ahead of these issues, as well as send a signal to regulators and criminal networks alike that this type of activity will no longer slide under the radar.

Choose Fivecast state

Cast the net wider

The vast digital footprint created by organised crime networks provides law enforcement authorities with an opportunity to extract crucial insights that are central to investigations.

Advanced automated collection by Fivecast Onyx allows teams to cast the net wider and identify unknown leads, backed by cutting-edge analytics and automated risk detection for a laser focus on activities, events and persons of interest.

Onyx provides ongoing, automated data collection, targeting of known persons of interest, development of new networks and risk monitoring. Onyx is the force-multiplier that lets agencies cover more of their target environment with less staff.

With its unique ability to monitor and interpret a range of multimedia data including image, text and video – the only tool of its kind to do so – Fivecast Onyx provides intelligence for a safer world.

Uncovering organised crime networks within the banking sector