Related papers: Network Analysis of Global Banking Systems and Det…
The global banking system has faced increasing challenges in combating money laundering, necessitating advanced methods for detecting suspicious transactions. Anti-money laundering (or AML) approaches have often relied on predefined…
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…
We employ network embedding to detect money laundering in financial transaction networks. Using real anonymized banking data, we model over one million accounts as a directed graph and use it to refine previously detected suspicious cycles…
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…
Money laundering is a profound global problem. Nonetheless, there is little scientific literature on statistical and machine learning methods for anti-money laundering. In this paper, we focus on anti-money laundering in banks and provide…
Money launderers exploit the weaknesses in detection systems by purposefully placing their ill-gotten money into multiple accounts, at different banks. That money is then layered and moved around among mule accounts to obscure the origin…
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…
Since 2008, the network analysis of financial systems is one of the most important subjects in economics. In this paper, we have used the complexity approach and Random Matrix Theory (RMT) for analyzing the global banking network. By…
This research explores the opportunities for the application of network analytic techniques to prevent money laundering. We worked on real world data by analyzing the central database of a factoring company, mainly operating in Italy, over…
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…
Money laundering presents a pervasive challenge, burdening society by financing illegal activities. The use of network information is increasingly being explored to effectively combat money laundering, given it involves connected parties.…
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…
This paper explores anomaly detection through temporal network analysis. Unlike many conventional methods, relying on rule-based algorithms or general machine learning approaches, our methodology leverages the evolving structure and…
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…
Money laundering is a global problem that concerns legitimizing proceeds from serious felonies (1.7-4 trillion euros annually) such as drug dealing, human trafficking, or corruption. The anti-money laundering systems deployed by financial…
Banking fraud causes billion-dollar losses for banks worldwide. In fraud detection, graphs help understand complex transaction patterns and discovering new fraud schemes. This work explores graph patterns in a real-world transaction dataset…
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…
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…
Current anti-money laundering (AML) systems, predominantly rule-based, exhibit notable shortcomings in efficiently and precisely detecting instances of money laundering. As a result, there has been a recent surge toward exploring…