Related papers: MonLAD: Money Laundering Agents Detection in Trans…
For different factors/reasons, ranging from inherent characteristics and features providing decentralization, enhanced privacy, ease of transactions, etc., to implied external hardships in enforcing regulations, contradictions in data…
Money laundering detection faces challenges due to excessive false positives and inadequate adaptation to sophisticated multi-stage schemes that exploit modern financial networks. Graph analytics and AI are promising tools, but they…
Credit card fraud detection is a very challenging problem because of the specific nature of transaction data and the labeling process. The transaction data is peculiar because they are obtained in a streaming fashion, they are strongly…
The complexity and interconnectivity of entities involved in money laundering demand investigative reasoning over graph-structured data. This paper explores the use of large language models (LLMs) as reasoning engines over localized…
We present a data mining approach for profiling bank clients in order to support the process of detection of anti-money laundering operations. We first present the overall system architecture, and then focus on the relevant component for…
Criminals are using every means available to launder the profits from their illegal activities into ostensibly legitimate assets. Meanwhile, most commercial anti-money laundering systems are still rule-based, which cannot adapt to the…
Financial fraud detection is essential to safeguard billions of dollars, yet the intertwined entities and fast-changing transaction behaviors in modern financial systems routinely defeat conventional machine learning models. Recent…
Fraud detection is essential in financial services, with the potential of greatly reducing criminal activities and saving considerable resources for businesses and customers. We address online fraud detection, which consists of classifying…
Anomaly detection is critical for finding suspicious behavior in innumerable systems. We need to detect anomalies in real-time, i.e. determine if an incoming entity is anomalous or not, as soon as we receive it, to minimize the effects of…
Financial crime is a large and growing problem, in some way touching almost every financial institution. Financial institutions are the front line in the war against financial crime and accordingly, must devote substantial human and…
Anti-money laundering (AML) actions and measurements are among the priorities of financial institutions, for which machine learning (ML) has shown to have a high potential. In this paper, we propose a comprehensive and systematic approach…
Purpose: We introduce GARG-AML, a fast and transparent graph-based method to catch `smurfing', a common money-laundering tactic. It assigns a single, easy-to-understand risk score to every account in both directed and undirected networks.…
In the context of globalization and the rapid expansion of the digital economy, anti-money laundering (AML) has become a crucial aspect of financial oversight, particularly in cross-border transactions. The rising complexity and scale of…
Accounting fraud is a global concern representing a significant threat to the financial system stability due to the resulting diminishing of the market confidence and trust of regulatory authorities. Several tricks can be used to commit…
The number of blockchain users has tremendously grown in recent years. As an unintended consequence, e-crime transactions on blockchains has been on the rise. Consequently, public blockchains have become a hotbed of research for developing…
As item trading becomes more popular, users can change their game items or money into real money more easily. At the same time, hackers turn their eyes on stealing other users game items or money because it is much easier to earn money than…
Money laundering is a financial crime that poses a serious threat to financial integrity and social security. The growing number of transactions makes it necessary to use automatic tools that help law enforcement agencies detect such…
The detection of fraud in accounting data is a long-standing challenge in financial statement audits. Nowadays, the majority of applied techniques refer to handcrafted rules derived from known fraud scenarios. While fairly successful, these…
USDT, a stablecoin pegged to dollar, has become a preferred choice for money laundering due to its stability, anonymity, and ease of use. Notably, a new form of money laundering on stablecoins -- we refer to as crowdsourcing laundering --…
We present a method to detect departures from business-justified workflows among support agents. Our goal is to assist auditors in identifying agent actions that cannot be explained by the activity within their surrounding context, where…