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Periodic account activity and automated money laundering detection

Periodic account activity and automated money laundering detection Introduces the use of account activity relative to client peer groups as a means of identifying unusual behaviour, as part of money laundering detection; assumptions can be made about what constitutes normal transactional behaviour for an individual, so that deviations from this can generate risk factors. Analyses an account history as a time series of asset movements that can be characterised by a function whose Fourier transform can be computed, yielding a function of a frequency; the so‐called Power Spectrum can be derived, and this specifies the “power” or magnitude of asset movement in the account as a function of frequency. Points out that the method also allows detailed inter‐institutional comparisons of account activity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Money Laundering Control Emerald Publishing

Periodic account activity and automated money laundering detection

Journal of Money Laundering Control , Volume 7 (4): 3 – Oct 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1368-5201
DOI
10.1108/13685200410810001
Publisher site
See Article on Publisher Site

Abstract

Introduces the use of account activity relative to client peer groups as a means of identifying unusual behaviour, as part of money laundering detection; assumptions can be made about what constitutes normal transactional behaviour for an individual, so that deviations from this can generate risk factors. Analyses an account history as a time series of asset movements that can be characterised by a function whose Fourier transform can be computed, yielding a function of a frequency; the so‐called Power Spectrum can be derived, and this specifies the “power” or magnitude of asset movement in the account as a function of frequency. Points out that the method also allows detailed inter‐institutional comparisons of account activity.

Journal

Journal of Money Laundering ControlEmerald Publishing

Published: Oct 1, 2004

Keywords: Money laundering; Accounts; Modelling; Fourier transforms

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