Together against financial crime

Detection of financial crime is characterized by many challenges. Organizational silos, barriers to collaboration leading to massive duplication of resources and inefficiencies, high false-positive rates, defensive over-reporting, underutilization of information by law enforcement agencies. Financial analysts and investigators need better collaboration, leveraging technological innovation and advanced data analytics.


Financial Privacy Technology

The Alliance of Privacy Preserving Detection of Financial Crime is an R&D collaboration on detecting financial crime through the use of Privacy Enhancing Technologies (PETs). We develop privacy preserving solutions that could analyze combined data of multiple banks for the benefit of Know Your Customer (KYC), Anti-Money Laundering (AML) and fraud detection. Examples include the prioritization of alerts and indicators for more effective transaction monitoring, risk propagation algorithms to follow the flow of risky money, and graph intelligence to analyze groups and networks of suspicious accounts and clients.

Use cases

Since 2017 we have inspired each other with challenges in the fight against financial crime, most often due to the lack of the right information to be effective. This lead to many high-potential use cases, where data collaboration between financial institutions would be much more effective but is hindered by data confidentiality challenges such as privacy regulations. For example being able to query a transaction network of multiple banks for specific patterns. Or follow “risky money” through transactions between bank accounts. Interested in our ideas on data collaboration for more effective detection of financial crime?