April 17, 2002 2:40 PM PDT
Data mining firm to get $17.5 million
Mantas customers, such as Merrill Lynch and the National Association of Securities Dealers, use its systems to monitor securities trades for irregular activities and transaction quality. But the company says its technology can also be used to detect fraud and money laundering. "Recent regulatory mandates, such as the passage of the U.S.A. Patriot Act, have created opportunity for our anti-money laundering and fraud solutions," Mantas Chief Executive Simon Moss said in a statement.