Parabots participates in the project Tools Against Financial & Economic Internet Crime (TAFEIC). This is a 3 year project (2013-2016), funded by the European Commission. The goal of the project is to investigate effective methods and tools to address the negative effects of financial and economic crime on the Internet, in particular fake medicines, counterfeiting, money laundering and basic primary fraud. This involves a shift from conventional, reactive activities to more pre-emptive activities to counter financial en economic crime on Internet. As the use of Internet is hardly impeded by (national) borders, transnational cooperation between government organisations on these subjects will be explored.
The project is coordinated by the Dutch Tax and Customs Administration "Nederlandse Belastingdienst". Projectpartners are the Dutch National Coordinator for Security and Counterterrorism (NCTV), the "Bijzondere Belasting Inspectie" from the Belgian Tax and Customs Administration, the Swedish Tax and Customs Administration "Skatteverket", Parabots BV and Parabots sister company Sentient Information Systems BV.
The role of Parabots is to design and implement the monitoring and prediction technology as demanded by the project goals. Parabots XBOTS technology will be used as a starting point in combination with the DataDetective datamining software of Sentient Information Systems.