Combating Money Laundering: AML Compliance Program Design

 By Neo4j Graph Database Platform - 2020-08-17

Description

Read the second blog in Neo4j's new six-part series on how Neo4j's graph technology can help you combat money laundering.

Summary

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  • Banks must process tens of millions of records in real time each day Banks serve individuals, corporations, other banks, and a world of educational, governmental and non-profit institutions Globally, transactional data is recorded in many languages, address formats, and character sets, and that data is encrypted and obfuscated to maintain its privacy Transactions follow various formats such as SWIFT, ACH and wire transfers Resolving entities and flagging can be automated using scoring models, which makes subsequent manual investigation more effective.
  • Neo4j can detect these previously undiscovered relationships between the entities to more accurately identify the same entities using a process that combines graph and text analytics.
  • Parameterized playbook questions written by IT staff help your analysts explore various AML behaviors without having to write code.

 

Topics

  1. Database (0.45)
  2. NLP (0.18)
  3. Backend (0.18)

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