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Data and Analytics in the Fight Against Money Laundering

Publication date 24-09-2024

The AMLC utilizes data and analytics as crucial tools in its efforts to combat money laundering. By leveraging advanced analytical techniques, the AMLC can identify patterns, trends, and anomalies in large datasets that may indicate suspicious activities or financial crimes. This approach allows for a more targeted and efficient identification of potential money laundering networks, helping to uncover complex and hidden transactions that might otherwise go unnoticed.

The AMLC combines data from various sources, such as financial institutions, law enforcement, and regulatory bodies, to create a comprehensive view of financial flows and risks. In addition to detecting illicit activities, data analytics supports the development of new methods and technologies to enhance the overall effectiveness of anti-money laundering efforts.

The AMLC continuously works on refining its analytical capabilities to stay ahead of evolving criminal tactics, ensuring a dynamic response to new threats in the financial landscape. By fostering collaboration and innovation, the AMLC enhances its capacity to prevent and detect money laundering activities, contributing to a safer and more transparent financial environment.

AMLC-Suite

Innovative, preferably open-source technology is used primarily in the development of tools. The advantage of this is that it provides good quality and fast software without any purchase costs or maintenance costs. The total set of tools is referred to as the AMLC Suite, led by the AMLC Browser flagship. The Browser enables investigating officers and analysts of FIOD to visually and interactively search through large quantities of data.

Additionally, the AMLC Matcher can find relationships between different data sets at a breathtaking pace. Also, machine learning algorithms are used to find key persons in 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.