Financial Fraud
Australian Security and Investment Commission
(AUSTRALIA OUT) Simon Hannes faces a new trial over insider trading charges, 11 August 1999. AFR Picture by PHIL CARRICK (Photo by Fairfax Media via Getty Images via Getty Images)

Case Study Overview


ASIC suspected insider trading – someone had bought options for TNT stock for 1c and 2c and stood to make millions but their identity was unknown.

Using traditional correlation and linear regression analysis, ASIC could not identify who the person was. 


In a 3 week period, using traditional methods, an initial shortlist of 600,000 potential suspects were identified by ASIC.

With data supplied by ASIC’s National Intelligence and Analytical Services Manager, our Algorithms discovered many hidden “Cause-Effect” drivers (some of which were known, some not). 

Our technology quickly narrowed this target list down to 180,000.

The BDC algorithms then reduced 180,000 possibilities down to only one, in a matter of hours.

Successful Outcome

The link our algorithms found was enough evidence to issue a search warrant.

The suspect, who was using a false name, was identified as Simon Hannes, a Macquarie Bank senior executive and advisor on the TNT deal.  Hannes was subsequently charged and convicted.


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