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Scalable and Interactive Visual Analysis of Financial Wire Transactions for Fraud Detection

Remco Chang, Alvin Lee, Mohammad Ghoniem, Robert Kosara, William Ribarsky, Jing Yang, Evan Suma, Caroline Ziemkiewicz, Daniel Kern, Agus Sudjianto
2008 Information Visualization  
Large financial institutions such as Bank of America handle hundreds of thousands of wire transactions per day.  ...  In this paper, we present a set of coordinated visualizations based on identifying specific keywords within the wire transactions.  ...  This work was performed with support from Bank of America and the National Visualization and Analytics Center (NVAC TM ), a U.S.  ... 
doi:10.1057/palgrave.ivs.9500172 fatcat:mcdljkohlvhv7i66ww3cvjlloe

Visual Analytics for fraud detection and monitoring

Roger A. Leite, Theresia Gschwandtner, Silvia Miksch, Erich Gstrein, Johannes Kuntner
2015 2015 IEEE Conference on Visual Analytics Science and Technology (VAST)  
Being able to detect and avoid fraudulent schemes also enhances the credibility of these institutions. Currently, fraud detection approaches still lack Visual Analytics techniques.  ...  We propose a Visual Analytics process that tackles the main challenges in the area of fraud detection.  ...  ACKNOWLEDGEMENTS This work was supported by the Austrian Federal Ministry of Science, Research, and Economy via CVAST, a Laura Bassi Centre of Excellence (No. 822746).  ... 
doi:10.1109/vast.2015.7347678 dblp:conf/ieeevast/LeiteGMGK15 fatcat:k65xnxqiyvfxpj66ueqsn2gicu

WireVis: Visualization of Categorical, Time-Varying Data From Financial Transactions

Remco Chang, Mohammad Ghoniem, Robert Kosara, William Ribarsky, Jing Yang, Evan Suma, Caroline Ziemkiewicz, Daniel Kern, Agus Sudjianto
2007 2007 IEEE Symposium on Visual Analytics Science and Technology  
Large financial institutions such as Bank of America handle hundreds of thousands of wire transactions per day.  ...  In this paper, we present a set of coordinated visualizations based on identifying specific keywords within the wire transactions.  ...  This work was performed with support from Bank of America and the National Visualization and Analytics Center (NVAC TM ), a U.S.  ... 
doi:10.1109/vast.2007.4389009 dblp:conf/ieeevast/ChangGKRYSZKS07 fatcat:zqgctbvygrebhfggq5zd6myrqa

Recovering Reasoning Processes from User Interactions

Wenwen Dou, Dong Hyun Jeong, Felesia Stukes, William Ribarsky, Heather Richter Lipford, Remco Chang
2009 IEEE Computer Graphics and Applications  
In our study, we recorded the interactions and think-alouds of 10 financial analysts in a fraud detection task.  ...  In this paper we demonstrate that we were able to identify several of the strategies, methods, and findings of an analysis process using a financial visual analytical tool through the examination of an  ...  This visual analytical tool was developed jointly with wire analysts at Bank of America for discovering suspicious wire transactions.  ... 
doi:10.1109/mcg.2009.49 pmid:19642615 fatcat:krdemngmozaijlouq7dctyezrq

Helping users recall their reasoning process

Heather Richter Lipford, Felesia Stukes, Wenwen Dou, Matthew E. Hawkins, Remco Chang
2010 2010 IEEE Symposium on Visual Analytics Science and Technology  
We then explore whether a tool visualizing the steps of the visual analysis can aid users in recalling their reasoning process.  ...  The results of our second study indicate that visualizations of interaction logs can serve as an effective memory aid, allowing analysts to recall additional details of their strategies and decisions.  ...  WireVis was developed to replace a text-based process of wire transaction analysis, helping bank analysts visualize activities that may be indicative of fraud and associated illicit financial activity.  ... 
doi:10.1109/vast.2010.5653598 dblp:conf/ieeevast/LipfordSDHC10 fatcat:lvii2hnf5fey3k3sedhxgokmjq

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

Jingguang Han, Yuyun Huang, Sha Liu, Kieran Towey
2020 Digital Finance  
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 review the state-of-the-art AI methods for AML and extend the discussion by proposing a framework that utilizes advanced natural language processing and deep-learning techniques to facilitate next-generation  ...  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

Using social network analysis to prevent money laundering

Andrea Fronzetti Colladon, Elisa Remondi
2017 Expert systems with applications  
Our findings show the importance of using a network-based approach when looking for suspicious financial operations and potential criminals.  ...  Finally, to spot potential clusters of criminals, we propose a visual analysis of the tacit links existing among different companies who share the same owner or representative.  ...  Acknowledgements We are grateful to Donato Franco, Senior Manager at KPMG Spa, for sharing his knowledge about anti-money laundering regulations in Italy and their practical applications.  ... 
doi:10.1016/j.eswa.2016.09.029 fatcat:ct7265nq55dhjo4x3xhdc55zua

DRAGOON: An Information Accountability System for High-Performance Databases

Kyriacos E. Pavlou, Richard T. Snodgrass
2012 2012 IEEE 28th International Conference on Data Engineering  
A prototype tamper detection and forensic analysis system named DRAGOON was designed and implemented to determine when tampering(s) occurred and what data were tampered with.  ...  DRAGOON is scalable, customizable, and intuitive.  ...  NSF grants IIS-0415101, IIS-0803229, and a grant from Surety, LLC provided partial support for this work.  ... 
doi:10.1109/icde.2012.139 dblp:conf/icde/PavlouS12 fatcat:rhtfz6r6urc7rc5moqk3eevjae

iConViz: Interactive Visual Exploration of the Default Contagion Risk of Networked-Guarantee Loans [article]

Zhibin Niu, Runlin Li, Junqi Wu, Dawei Cheng, Jiawan Zhang
2020 arXiv   pre-print
iConVis, an interactive visual analysis tool that facilitates the closed-loop analysis process.  ...  Based on this metric, we designed and implement a series of novel and coordinated views that address the analysis of financial problems. Experts evaluated the system using real-world financial data.  ...  ACKNOWLEDGMENTS This work was supported by National Natural Science Foundation of China (NO.61802278) and foundation of Key Laboratory of Artificial Intelligence, Ministry of Education, China (AI2019004  ... 
arXiv:2006.09542v3 fatcat:jnugttkxpnepxlojgk6wedrdra

Continuous Auditing: Building Automated Auditing Capability [chapter]

Zabihollah Rezaee, Ahmad Sharbatoghlie, Rick Elam, Peter L. McMickle
2018 Continuous Auditing  
, discriminant analysis, multiple regression analysis); and • Data visualization capability for data mining exploration and identification of patterns and trends in the data.  ...  Given the risks and volume of wire transactions, it is prudent to employ a continuous audit and monitoring system to detect unauthorized transactions.  ... 
doi:10.1108/978-1-78743-413-420181008 fatcat:d3v4nhulqjau3i252kcwco5iri

Blockchain as a trust layer for more efficient finance market

Dmitriy Golovyonkin, Elena V. Karanina, Larisa V. Kryuchkova, Svetlana V. Grin, Julia V. Davydova, A. Zheltenkov
2019 E3S Web of Conferences  
for many interactions.  ...  This article covers a variety of topics on blockchain and the impact that digital encryption and social engineering will have on finance society.  ...  such as logistic models, neural networks, regression, clustering, prediction, outlier detection and visualization could enhance system defence against finance fraud [4] .  ... 
doi:10.1051/e3sconf/20199108003 fatcat:5p2jqxsluzbmzmygzigeprdtoa

Security Issues Associated with Big Data in Cloud Computing

Venkata Narasimha Inukollu, Sailaja Arsi, Srinivasa Rao Ravuri
2014 International journal of network security and its applications  
Cloud computing plays a very vital role in protecting data, applications and the related infrastructure with the help of policies, technologies, controls, and big data tools.  ...  Big data applications are a great benefit to organizations, business, companies and many large scale and small scale industries.We also discuss various possible solutions for the issues in cloud computing  ...  In many organizations, the deployment of big data for fraud detection is very attractive and useful.  ... 
doi:10.5121/ijnsa.2014.6304 fatcat:hntu6w5rerh4tnunfhheijv6xq

Enabling Secure Web Payments with GNU Taler [chapter]

Jeffrey Burdges, Florian Dold, Christian Grothoff, Marcello Stanisci
2016 Lecture Notes in Computer Science  
GNU Taler is a new electronic online payment system which provides privacy for customers and accountability for merchants.  ...  Here, challenges include avoiding database transactions for customers that do not actually go through with the purchase, as well as cleanly separating securitycritical functions of the payment system from  ...  Acknowledgements This work benefits from the financial support of the Brittany Region (ARED 9178) and a grant from the Renewable Freedom Foundation.  ... 
doi:10.1007/978-3-319-49445-6_14 fatcat:23p4j6zkkvdjjdqwje5mzq7ake

The Current Phishing Techniques – Perspective of the Nigerian Environment

Palang Nicolyn Mangut, Kalamba Aristarkus Datukun
2021 World Journal of Innovative Research  
Other financial crimes laws like the Economic and Financial Crimes Commission act of 2004 and Advance Fee Fraud and Related Offences Act 2006 have served its purpose in handling fraud related cybercrimes  ...  Concluding, the researchers identified some design principles required for developing a Malicious URL Detection as a service, which considers accuracy, speed of detection, scalability, adaptation and flexibility  ... 
doi:10.31871/wjir.10.1.9 fatcat:3kfhm2uevrap3bwukrpaav74l4

Big Data Acquisition [chapter]

Klaus Lyko, Marcus Nitzschke, Axel-Cyrille Ngonga Ngomo
2016 New Horizons for a Data-Driven Economy  
For more accurate and less intrusive fraud detection method, banks and financial service institutions are increasingly using algorithms that rely on real-time data about transactions.  ...  Better and improved fraud detection methods rely on real-time analysis of big data (Sensmeier 2013) .  ... 
doi:10.1007/978-3-319-21569-3_4 fatcat:bz227xyzsbfzzcsxuy4ao72rlq
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