ISI Aids Foreign Bank in Investigation

The Business Challenge

On September 17th, the Federal Bureau of Investigation (FBI) provided the Federal Reserve Board (FRB) and other federal financial institution supervisory agencies with a public list of the names of alleged suspects under investigation by the FBI in connection with the World Trade Center and Pentagon attacks. The FBI asked all domestic and foreign banking organizations operating in the United States to check their records for any relationships or transactions with the named individuals. The Federal Reserve Board requested banks to provide audit trails for any fund transactions related to suspected terrorists.

This branch of a foreign-based bank in New York City only had paper copies of those transactions which meant they were faced with having to compare the last five years of all fund transactions manually.

ISI's Solution

The Bank approached Image Solutions, Inc. (ISI) for a quick and reliable solution that would allow them to provide audit trails quickly and efficiently. Using DocComposer®, with its high-speed scanning, PDF Conversion and Optical Character Recognition (OCR) Technology, ISI's team of experienced professionals converted over 10,000 pages into fully text searchable files overnight and delivered the final data on a single CD-ROM.

The Results

The Bank was able to electronically search over 10,000 pages of transactions and submit their findings to the FRB. If attempted manually, the same process would have taken several weeks to complete. Furthermore, if the FRB circulates a new list of names in the future, the Bank will have no problem searching the documents electronically.