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Data and Analytics in the Fight Against Money Laundering

Publication date 24-09-2024

The AMLC employs data and analytics as essential tools in its efforts to combat money laundering. By applying advanced analytical techniques, the AMLC can identify patterns, trends, and anomalies within large datasets that may signal suspicious activity or financial crime.

This approach enables more precise and efficient detection of potential money laundering networks, revealing complex, hidden transactions that might otherwise go unnoticed.

The AMLC integrates data from multiple sources, including financial institutions, law enforcement agencies, and regulatory bodies, to form a comprehensive view of financial flows and associated risks. Beyond detecting illicit activities, data analytics also drives the development of new strategies and technologies, enhancing the overall effectiveness of anti-money laundering efforts.

To stay ahead of evolving criminal tactics, the AMLC continually refines its analytical capabilities, ensuring a dynamic and adaptable response to emerging threats in the financial landscape. Through collaboration and innovation, the AMLC strengthens its ability to prevent and detect money laundering, contributing to a safer and more transparent financial system.

AMLC-Suite

Innovative, preferably open-source, technology is primarily used in the development of tools. The key advantage of this approach is that it delivers high-quality, fast-performing software without the costs associated with purchasing or maintaining proprietary systems. Collectively, these tools form the AMLC Suite, with the AMLC Browser as its flagship. The Browser allows FIOD investigators and analysts to visually and interactively search through large volumes of data.

In addition, the AMLC Matcher can identify relationships between different datasets at remarkable speed. Machine learning algorithms are also employed to detect key individuals within criminal networks.

The AMLC Suite consists of four components:

  • AMLC Browser (investigate)
  • Data Framework (Analyze)
  • AMLC Matcher (Connect)
  • AMLC Parser (Format)

The AMLC Browser is used by investigating officers and analysts of FIOD to search through large quantities of data, in which they find links between subjects, companies and addresses.

The Data Framework is used by data analysts and data scientists to carry out analyses / processes on data. This enables them to find the key persons in the criminal network by making use of network analysis algorithms for example.

The AMLC Matcher can find relationships between different data sources at a breathtaking pace. This enables our data architects / data analysts to combine information from different data sets.

The AMLC Parser is used to put data in the correct format in the Data Framework.