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A data mining-based solution for detecting suspicious money laundering cases in an investment bank [article]

Nhien-An Le-Khac, Sammer Markos, Tahar Kechadi
2016 arXiv   pre-print
Within the scope of a collaboration project for the purpose of developing a new solution for the anti-money laundering Units in an international investment bank, we proposed a simple and efficient data  ...  mining-based solution for anti-money laundering.  ...  CONCLUSIONS AND FUTURE WORKS In this paper, we have presented a DM solution for analysing transactions in an investment bank to detect ML.  ... 
arXiv:1609.00990v1 fatcat:7usuuwkqcvdm5odm26vvmxnb4i

Towards a New Data Mining-Based Approach for Anti-Money Laundering in an International Investment Bank [chapter]

Nhien-An Le-Khac, Sammer Markos, Mohand-Tahar Kechadi
2010 Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering  
Within the scope of a collaboration project for the purpose of developing a new solution for the AML Units in an international investment bank based in Ireland, we propose a new data mining-based approach  ...  Most international financial institutions have been implementing anti-money laundering solutions (AML) to fight investment fraud.  ...  Current solutions apply these two characteristics in a set of rules to detect suspicious cases.  ... 
doi:10.1007/978-3-642-11534-9_8 fatcat:r6367g6i2bhqtgs3q6lqvmcqae

A Heuristics Approach For Fast Detecting Suspicious Money Laundering Cases In An Investment Bank

Nhien-An Le-Khac, Sammer Markos, M-Tahar Kechadi
2009 Zenodo  
Within the scope of a collaboration project for the purpose of developing a new solution for the AML Units in an international investment bank, we proposed a data mining-based solution for AML.  ...  Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities.  ...  Science Index, Computer and Information Engineering Vol:3, No:12, 2009 waset.org/Publication/12189 A Heuristics Approach for Fast Detecting Suspicious Money Laundering Cases in an Investment Bank  ... 
doi:10.5281/zenodo.1078724 fatcat:y4sf2twdhvfjpjvobf5wduqabu

Dynamic Approach for Detection of Suspicious Transactions in Money Laundering

Anagha A Rao, Kanchana V
2018 International Journal of Engineering & Technology  
By comparing the obtained data with the previous data, we will be able to predict suspicious transactions, providing the details are moved for further investigation.  ...  In the previous year, India has been among the most active nations in venturing up the battle against money laundering and related financial and security issues.  ...  These were the different data mining techniques proposed to detect money laundering for quick identification.  ... 
doi:10.14419/ijet.v7i3.10.15619 fatcat:4nl6gzhby5a4teq5mgdfhrprqi

A Hybrid Approach for Detecting Suspicious Accounts in Money Laundering Using Data Mining Techniques

Ch. Suresh, K. Thammi Reddy, N. Sweta
2016 International Journal of Information Technology and Computer Science  
[1] [2] [3] constructed a data mining based solutions for examining transactions to detect money laundering and suggested an investigating process based on different data mining techniques such as  ...  By merging natural computing techniques and data mining techniques; knowledge based solution were proposed to detect money laundering.  ... 
doi:10.5815/ijitcs.2016.05.04 fatcat:4haxgcx4x5fbnfs4ejng2ysxxa

A Framework to Score the Risk Associated with Suspicious Money Laundering Activity and Social Media Profile

Dillip Kumar Parida, D. Prasanna Kumar
2020 Indian Journal of Finance and Banking  
The existing AML (Anti Money Laundering) solutions and its design based on the creation of a transaction profile.  ...  In this paper, we propose an approach and risk scoring framework to assess customer profiles that drive the suspicious profile or transactions based on social media attributes.  ...  Using text analytics on social media data for profiling may detect a suspicious user in social media concerning money laundering.  ... 
doi:10.46281/ijfb.v4i2.662 fatcat:v2wlfgloyfhhbd3sbvsisp7efi

Deep learning and explainable artificial intelligence techniques applied for detecting money laundering – a critical review

Dattatray V. Kute, Biswajeet Pradhan, Nagesh Shukla, Abdullah Alamri
2021 IEEE Access  
FIGURE 2 shows the analysis based on the 43 papers filtered that provides the solutions using machine learning models for money laundering pattern detection, suspicious transaction detection, money launderers  ...  • A survey of statistical methods for detection of money laundering Weber et al. [29] provided a survey of statistical methods, data mining and machine learning techniques used for detection of money  ...  He is also a member of the editorial boards in a number of leading journals.  ... 
doi:10.1109/access.2021.3086230 fatcat:n4wwkfoiaff5rjpelnddtcruwu

Tracking dirty proceeds: Exploring data mining technologies as tools to investigate money laundering

R. CORY Watkins, K. Michael Reynolds, Ron Demara, Michael Georgiopoulos, Avelino Gonzalez, Ron Eaglin
2003 Police Practice & Research  
This paper provides an overview of the money laundering problem in the USA and overseas and describes the nature and scope of the money laundering problems.  ...  This paper explores the use of innovative data mining methodologies that could enhance law enforcement's ability to detect, reduce, and prevent money laundering activities.  ...  Moreover, this effort would be in line with and reinforce recommendations 30-40 of the FATF; specifically those aimed at strengthening international cooperation in the fight against money laundering (FATF  ... 
doi:10.1080/15614260308020 fatcat:fqoo2f25ybb3fisbcgpdjvf37a

Blockchain-Enabled Transaction Scanning Method for Money Laundering Detection

Ammar Oad, Abdul Razaque, Askar Tolemyssov, Munif Alotaibi, Bandar Alotaibi, Chenglin Zhao
2021 Electronics  
Currently, life cannot be imagined without the use of bank cards for purchases or money transfers; however, their use provides new opportunities for money launderers and terrorist organizations.  ...  This paper proposes a blockchain-enabled transaction scanning (BTS) method for the detection of anomalous actions.  ...  Luo [23] introduced a framework with a data mining system for detecting suspicious transactions.  ... 
doi:10.3390/electronics10151766 fatcat:isecx2b52jeipknk4yfvihkbxi

Artificial intelligence for anti-money laundering: a review and extension

Jingguang Han, Yuyun Huang, Sha Liu, Kieran Towey
2020 Digital Finance  
This paper surveys the existing academic literature on artificial intelligence (AI) technologies for anti-money laundering (AML).  ...  We bridge the gap between the current AML methods and state-of-the art AI, highlighting new trends and directions in AI that can be used to develop the AML pipeline into a robust, scalable solution with  ...  We would like to thank Accenture Applied Intelligence, Fraud and Risk Analytics and Technology Labs teams for inspiring conversations and support.  ... 
doi:10.1007/s42521-020-00023-1 fatcat:kcvdbmmk6bhaxetmidrgxzx3g4

System supporting money laundering detection

Rafał Dreżewski, Jan Sepielak, Wojciech Filipkowski
2012 Digital Investigation. The International Journal of Digital Forensics and Incident Response  
The system supporting the police analyst in the process of detecting money laundering is presented in this paper.  ...  For the transaction mining algorithm a performance study is also presented.  ...  Acknowledgments The research presented in this paper was partially supported by the Polish National Center of Research and Development grant No. O ROB 0008 01.  ... 
doi:10.1016/j.diin.2012.04.003 fatcat:3oaqbqcrgnbpll2uamp3johzga

Graph Computing for Financial Crime and Fraud Detection: Trends, Challenges and Outlook [article]

E.Kurshan, H. Shen
2021 arXiv   pre-print
Graph-based techniques provide unique solution opportunities for financial crime detection.  ...  As a result, traditional fraud detection approaches such as rule-based systems have largely become ineffective.  ...  As an example, the World Bank reports indicate that criminals increasingly utilize mobile payment channels for money laundering [32] .  ... 
arXiv:2103.03227v1 fatcat:5ztiqqbtxvfuhmh5qe6vd354tm

Data Mining Techniques for Anti-Money Laundering

Assem Khalaf, Nashaat El
2016 International Journal of Computer Applications  
We use a data mining framework that is based on evaluating four types of neural networks, and that uses dataobtained from regular records collected from banks, to produce a classification conclusion on  ...  "who are money laundering and who are not".  ...  The research helps you to slow up the time of data evaluation and enhances the pace of conclusion creating, and the recourses employed for evaluation method like paper, document as well as file.  ... 
doi:10.5120/ijca2016910953 fatcat:wy2o455f7nfo5ca3z52k74plhm

AI based Models for Money Laundering Detection

Sathyanarayanan PSV, Yamunaa Balasubramaniam
2018 International Journal of Engineering Research and Advanced Technology  
Fighting Money Laundering represents a noteworthy test for the monetary administrations industry and past.  ...  In any case, to recognize connections, affiliation, connected gathering or mafia of suspicious people is once in a while gone under thought.  ...  An examination paper [7] proposed a computerized framework for distinguishing a suspicious gatherings in a money related exchange organize.  ... 
doi:10.31695/ijerat.2018.3355 fatcat:nd52arzosrbifamxlbyw4io6ea

An efficient Search Tool for an Anti-Money Laundering Application of an Multi-national Bank's Dataset [article]

Nhien-An Le-Khac, Sammer Markos, Michael O'Neill, Anthony Brabazon and Tahar Kechadi
2017 arXiv   pre-print
In this paper, we present a new approach for identifying customers registered in an investment bank.  ...  Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities.  ...  The BEP AML Unit does not have an automated solution to support pattern recognition and detection of suspicious activities.  ... 
arXiv:1609.02031v2 fatcat:5ltqbgpcwrf4dpdu7uswjdeeae
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