Machine learning for money laundering detection
Money laundering nowadays has become more severe and gained attention from regulations all over the world. With the development of technology, machine learning and data mining techniques have been adopted in the anti-money laundering system. However, banks face difficulties when investigating cro...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2020
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| Online Access: | https://hdl.handle.net/10356/144599 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Money laundering nowadays has become more severe and gained attention from regulations
all over the world. With the development of technology, machine learning and data mining
techniques have been adopted in the anti-money laundering system. However, banks face
difficulties when investigating cross-bank transactions due to the restrictions in information
sharing between them. This project first studies the typologies of money laundering activities
based on international organizations’ information and constructs indicators to quantify
red flags for potential money laundering activities. From that, we propose an anti-money
laundering framework comprising of single-bank and multi-bank systems by using machine
learning, homomorphic encryption, and secure multi-party computation techniques. Future
work can be done for the real-world implementation of such a framework. |
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