FINANCIAL CRIMES AND MONEY LAUNDERING. Application of Data Mining and Expert Systems for Anti-money Laundering Detection.

In recent decades, due to the computational leap of new technologies, financial crime and money laundering have passed of a traditional model which focused on drug trafficking to become one of the offenses more important for developed countries, serving even for terrorist financing.Given this increased financial engineering, the threat of financial crime extends not only economically but the entire society as a whole.

Today, most international financial institutions have been implementing solutions against money laundering, but traditional investigative techniques consume many resources, and sometimes are not able to use and analyze the total volume of information. In addition, most existing solutions are based on statistics such as means and standard deviations and therefore are not efficient enough, especially for detecting suspected cases in investment activities.

Our research group intends to implement the advanced techniques of Data-Mining and Statistical Learning to detect and analyze business financial crime and develop techniques to help prevent these crimes.