Criminals use money laundering to make the proceeds from their illegal activities look legitimate in the eyes of the rest of society. Current countermeasures taken by financial organizations are based on legal requirements and very basic statistical analysis. Machine Learning offers a number of ways to detect anomalous transactions. These methods can be based on supervised and unsupervised lear...

1,2 Department of Computer Engineering 1,2 Ipcowala Institute of Engineering & Technology, Dharmaj, Anand, Gujarat, India 388430 Abstract— Nowadays, banking frauds like money laundering becomes more and more sophisticated. Money laundering is a process by which legally obtained funds are given the appearance of having been legally obtained. There are various techniques for detecting the differe...

Today, money laundering (ML) 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 cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most international financial institutions have been implementing anti-money laundering solutions (A...

The paper shows how excessive reporting, called “crying wolf”, can dilute the information value of reports. Excessive reporting is investigated by undertaking the first formal analysis of money laundering enforcement. Banks monitor transactions and report suspicious activity to government agencies, which use these reports to identify investigation targets. Banks face fines should they fail to r...

The forms of threat to a country's economic system are very diverse. In modern times, perfidious systems activity organized crime groups coming light, especially in the field crime. One such criminal is certainly money laundering, which increasingly becoming serious international problem. Money laundering basically legalization capital acquired through activity. As activity, it directly negativ...