Combining Benford's Law and machine learning to detect money laundering. An actual Spanish court case.
Sign Up to like & getrecommendations! Published in 2018 at "Forensic science international"
DOI: 10.1016/j.forsciint.2017.11.008
Abstract: OBJECTIVES This paper is based on the analysis of the database of operations from a macro-case on money laundering orchestrated between a core company and a group of its suppliers, 26 of which had already… read more here.
Keywords: machine learning; money; case; benford law ... See more keywords
The regulatory technology “RegTech” and money laundering prevention in Islamic and conventional banking industry
Sign Up to like & getrecommendations! Published in 2020 at "Heliyon"
DOI: 10.1016/j.heliyon.2020.e04949
Abstract: This study aims to illustrate the impact of adopting Regulatory technology (RegTech) innovations in banks on money laundering prevention effectiveness using Bahrain as a case study. Bahrain has strived to position itself as the banking… read more here.
Keywords: regtech; banking; laundering prevention; money laundering ... See more keywords
Investigating the relationships between FATF recommendation compliance, regulatory affiliations and the Basel Anti-Money Laundering Index
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DOI: 10.1057/s41284-020-00249-z
Abstract: Money laundering (ML) is harmful as it provides an opportunity for criminals to launder (or legitimise) criminal proceeds and reinvest laundered funds into their activities. ML also creates economic distortions, erosion of financial sectors, reduced… read more here.
Keywords: regulatory affiliations; compliance; security; investigating relationships ... See more keywords
Role of money mules in money laundering and financial crimes a discussion through case studies
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DOI: 10.1108/jfc-02-2020-0028
Abstract: This paper aims to explain the role of money mules in money laundering and financial crimes through the discussion of case studies. The authors also explain the red flags of money mules and provide advice.,The… read more here.
Keywords: mules money; money; case; role money ... See more keywords
Tax evasion and money laundering through crowdfunding: a comparative study of the laws of Mauritius, UK and US
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DOI: 10.1108/jfc-03-2023-0063
Abstract: Purpose The phenomenal proliferation of crowdfunding platforms raises concerns on the heightened occurrence of financial crimes since billions of funds are exchanged through these online systems frequently. Accordingly, some countries have implemented legislative responses to… read more here.
Keywords: money laundering; study; tax evasion; tax ... See more keywords
Proceeds of crime training: bringing it up to date
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DOI: 10.1108/jfc-04-2017-0028
Abstract: Purpose The purpose of this paper is to highlight the limitations of training provided to accredited financial investigators, police officers generally, the Crown Prosecution Service and the judiciary in relation to the Proceeds of Crime… read more here.
Keywords: proceeds crime; training; investigation; crime ... See more keywords
Non-compliance behavior of de-risking force the EU to enhance anti-money laundering regulation
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Financial Regulation and Compliance"
DOI: 10.1108/jfrc-12-2020-0113
Abstract: Purpose Recent research shows that because of money-laundering risks, there has been an increase in the off-boarding of certain types of corporate clients in the financial sector. This phenomenon known as “de-risking” has been argued… read more here.
Keywords: anti money; paper; regulation; financial institutions ... See more keywords
Amaretto: An Active Learning Framework for Money Laundering Detection
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DOI: 10.1109/access.2022.3167699
Abstract: Monitoring financial transactions is a critical Anti-Money Laundering (AML) obligation for financial institutions. In recent years, machine learning-based transaction monitoring systems have successfully complemented traditional rule-based systems to reduce the high number of false positives… read more here.
Keywords: money laundering; detection; active learning; amaretto active ... See more keywords
Fighting Money Laundering With Statistics and Machine Learning
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DOI: 10.1109/access.2023.3239549
Abstract: 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 an… read more here.
Keywords: money laundering; machine learning; risk; money ... See more keywords
Analyzing and Detecting Money-Laundering Accounts in Online Social Networks
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DOI: 10.1109/mnet.2017.1700213
Abstract: Virtual currency in OSNs plays an increasingly important role in supporting various financial activities such as currency exchange, online shopping, and paid games. Users usually purchase virtual currency using real currency. This fact motivates attackers… read more here.
Keywords: virtual currency; currency; detecting money; analyzing detecting ... See more keywords
The effect of anti-money laundering policies: an empirical network analysis
Sign Up to like & getrecommendations! Published in 2022 at "EPJ Data Science"
DOI: 10.1140/epjds/s13688-022-00328-8
Abstract: Aim There is a growing literature analyzing money laundering and the policies to fight it, but the overall effectiveness of anti-money laundering policies is still unclear. This paper investigates whether anti-money laundering policies affect the… read more here.
Keywords: anti money; network analysis; laundering policies; money laundering ... See more keywords