Authors : Vikas Jayasree and R.V. Siva Balan
Abstract: This report discusses the importance of anti money laundering laws and the different procedures adopted by banks in the sector to curb such activities. The algorithmic approach to detect any system anomalies and suspicious characters, results in more clean systems and banking transactions. It helps ensure efficiency, faster methods and identification procedures which result in strict policies to avoid money laundering in banks and lending institutions. To direct consideration to find money laundering activities, Affiliation Mapping Calculation and Sequential Mining (AMC-SM) is proposed in this study. Affiliation Mapping Calculation (AMC) is performed on the preprocessed information sent to particular the exchanges which are happening from one-to-many and many to-one records. The AMC-SM considers time series information to identify one to many and many to one relations between electronic wires to arrive vulnerable data set.
Vikas Jayasree and R.V. Siva Balan, 2016. Anti Money Laundering in Financial Institutions Using Affiliation Mapping Calculation and Sequential Mining. Journal of Engineering and Applied Sciences, 11: 51-56.