Bhubaneswar: For investigators handling financial fraud cases, the painstaking process of sifting through thousands of pages of bank statements, often spanning several years, may soon become far less time-consuming. The commissionerate police are set to be armed with an AI-powered financial investigation tool to enhance the speed and accuracy of probes significantly.The proposed system will help cops analyse bank statements, trace the movement of funds, identify suspicious and mule accounts, uncover hidden links between entities and generate analytical reports with minimal manual intervention.“We have initiated the process of procuring an AI-powered financial investigation platform. The objective is to convert large volumes of banking and complaint-related financial data into a structured, searchable and traceable format that investigators can analyse quickly and efficiently,” a senior police officer said.According to officials, financial fraud investigations often involve examining transactions across multiple accounts and institutions, a process that can take weeks and months of manual scrutiny. The new system is expected to reduce analysis time by automating statement processing, transaction reconciliation and fund-flow tracking.“The tool will enable investigators to follow the money trail in real time, identify beneficiary accounts, detect suspicious transaction patterns and establish links between seemingly unrelated complaints. This will allow officers to focus more on investigation and less on data compilation,” the officer said.Police said the platform will function as an end-to-end investigative ecosystem capable of importing and organising bank statements and complaint data, integrating information from diverse sources and visualising complex financial networks through timelines, relationship maps and transaction trails.The proposed solution comprises several key functional components, including statement and complaint data processing, case intake and complaint consolidation, transaction tracing and financial analysis, network and geographic mapping, and investigation reporting.The platform is also expected to support advanced capabilities such as money-trail analysis, identification of mule-account operations, risk scoring, automated lien calculations and detection of layered transactions commonly used to conceal illicit fund movements.“Cyber fraudsters increasingly use multiple mule accounts and rapid fund transfers to evade detection. The proposed platform will strengthen our ability to track and analyse complex financial transactions, leading to quicker detection and more effective investigations,” another senior police officer said.Officials expressed confidence that the system will significantly improve investigations into online financial frauds, cybercheating and organised mule-account networks while enhancing the chances of timely intervention and recovery of defrauded money.
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