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Recently, financial institutes have been dealing with an increase in financial crimes. In this context, financial services firms started to improve their vigilance and use new technologies and approaches to identify and predict financial…
Money laundering is a financial crime that obscures the origin of illicit funds, necessitating the development and enforcement of anti-money laundering (AML) policies by governments and organizations. The proliferation of mobile payment…
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…
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…
Today, money laundering poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the clichy of drug trafficking to…
Machine learning has opened up new tools for financial fraud detection. Using a sample of annotated transactions, a machine learning classification algorithm learns to detect frauds. With growing credit card transaction volumes and rising…
Money laundering is a major global problem, enabling criminal organisations to hide their ill-gotten gains and to finance further operations. Prevention of money laundering is seen as a high priority by many governments, however detection…
Credit card is one of the most extensive methods of instalment for both online and offline mode of payment for electronic transactions in recent times. credit cards invention has provided significant ease in electronic transactions.…
Credit card frauds are at an ever-increasing rate and have become a major problem in the financial sector. Because of these frauds, card users are hesitant in making purchases and both the merchants and financial institutions bear heavy…
Every year, criminals launder billions of dollars acquired from serious felonies (e.g., terrorism, drug smuggling, or human trafficking) harming countless people and economies. Cryptocurrencies, in particular, have developed as a haven for…
The application of machine learning to support the processing of large datasets holds promise in many industries, including financial services. However, practical issues for the full adoption of machine learning remain with the focus being…
Bitcoin is by far the most popular crypto-currency solution enabling peer-to-peer payments. Despite some studies highlighting the network does not provide full anonymity, it is still being heavily used for a wide variety of dubious…
In this paper, we focused on using deep learning methods for detecting money laundering in financial transaction networks, in order to demonstrate that it can be used as a complement or instead of the more commonly used rule-based systems…
In the field of fraud detection, the availability of comprehensive and privacy-compliant datasets is crucial for advancing machine learning research and developing effective anti-fraud systems. Traditional datasets often focus on…
In recent years, the unprecedented growth in digital payments fueled consequential changes in fraud and financial crimes. In this new landscape, traditional fraud detection approaches such as rule-based engines have largely become…
Credit cards play an exploding role in modern economies. Its popularity and ubiquity have created a fertile ground for fraud, assisted by the cross boarder reach and instantaneous confirmation. While transactions are growing, the fraud…
Money laundering enables organized crime by moving illicit funds into the legitimate economy. Although trillions of dollars are laundered each year, detection rates remain low because launderers evade oversight, confirmed cases are rare,…
Financial fraud refers to the act of obtaining financial benefits through dishonest means. Such behavior not only disrupts the order of the financial market but also harms economic and social development and breeds other illegal and…
Money laundering is the process where criminals use financial services to move massive amounts of illegal money to untraceable destinations and integrate them into legitimate financial systems. It is very crucial to identify such activities…
Money laundering has become one of the most relevant criminal activities in modern societies, as it causes massive financial losses for governments, banks and other institutions. Detecting such activities is among the top priorities when it…