University Students Use the Latest in AI to Solve Financial Crime

LOS ANGELES - Amzeal -- CONTACT: William Callahan
william@finaware.us

Marquette Students Leverage FinAware Tool in Real-World Fraud Investigations

LOS ANGELES, CA - FinAware is proud to announce its collaboration with Marquette University's Justice for Fraud Victims Program (JFVP), a hands-on course within the university's Masters in Accounting Program. This initiative pairs graduate students with law enforcement and anti-fraud professionals to investigate active fraud cases that might otherwise be left unaddressed due to resource constraints in local law enforcement.

Through the JFVP, students engage in an immersive learning experience, reviewing police reports, bank statements, and financial transactions under strict confidentiality. With the guidance of a seasoned mentor, students compile comprehensive forensic accounting reports that contribute to active investigations.

This semester, students have harnessed the power of the FinAware Financial Analysis tool to streamline the data imaging process. By utilizing Artificial Intelligence and a proprietary Large Language Model, FinAware automates time-consuming data input and allows students to focus on in-depth analysis and uncover critical insights. The integration of this technology has proven invaluable, enhancing both the efficiency, accuracy and the depth of their investigations.

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"Our students spend many hours poring over police reports and bank statements to trace the flow of suspected illicit transactions," according to Adjunct Professor April DeValkenaere, a financial crime investigator herself. "The students had praise for the FinAware tool's ability and speed to properly image the bank statement information, which frees them up to focus more time on analysis.

"We're thrilled to see FinAware being used by Marquette students in such a hands-on, impactful program," said Colin Schmitt, co-founder of Watchtower Group. "By streamlining data processes, FinAware allows students to concentrate on analysis and uncover insights that might otherwise go unnoticed. It's a powerful way for future forensic accountants to experience the impact of technology in financial investigations."

Watchtower Group, the developer of FinAware, specializes in cutting-edge software solutions for financial data analysis and crime detection. Their flagship platform, FinAware, leverages AI to streamline the investigation of complex financial transactions. By employing state-of-the-art technology, the platform significantly reduces the time and resources needed to process and analyze data, making it an essential tool for law enforcement agencies, financial institutions, and corporate compliance teams.

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This partnership underscores FinAware's commitment to empowering the next generation of forensic accountants and enhancing financial crime detection through collaboration with academia.

For more information, visit www.FinAware.us.