Anti-Money Laundering Transaction Monitoring Systems Implementation : Finding Anomalies.

Cover -- Title Page -- Copyright -- Contents -- About the Authors -- Acknowledgments -- Preface -- 1 An Introduction to Anti-Money Laundering -- The Emergence of AML -- AML as a Compliance Domain -- The Objectives of AML -- Regulatory Reporting -- Corporate Citizenship versus Profitability -- About True and False Positives and Negatives -- The Evolution of Automated Transaction Monitoring -- From Rule-Based to Risk-Based -- From Static to More Dynamic Transaction Monitoring -- Latest Trends: Machine Learning and Artificial Intelligence -- Latest Trends: Blockchain -- Risk-Based Granularity and Statistical Relevance -- Summary -- Chapter 2 Transaction Monitoring in Different Businesses -- Banking -- Correspondent Banking -- Banking - Trade Finance -- Banking - Credit Card -- Insurance -- Securities -- Stored Value Facilities (SVFs) -- Casinos and Online Gambling -- Lottery and Jockey Club -- Other Businesses -- Summary -- Chapter 3 The Importance of Data -- ETL: Extract, Transform, and Load -- Extract: Data Availability and Sourcing -- Transform: Data Quality, Conversion, and Repair -- Data Load and Further Processing -- Loading of the Data -- Data Lineage -- Multiple ETLs -- Summary -- Chapter 4 Typical Scenario Elements -- Transaction Types -- Actionable Entity -- Scenario Parameters -- Use of Maximum Instead of Minimum Value Threshold -- Threshold per Customer -- Pre-Computing Data -- Timeliness of Alerts -- Use of Ratios -- Ratio as Degree of Change/Similarity -- Ratio as Proportion -- Other Common Issues -- Chapter 5 Scenarios in Detail -- Large Aggregate Value -- Unexpected Transaction -- High Velocity/Turnover -- Turnaround/Round-Tripping -- Structuring -- Early Termination/Quick Reciprocal Action -- Watchlist -- Common Specifications across Unrelated Entities -- Involving Unrelated Third Party -- One-to-Many.

Transacting Just below Reporting Threshold -- Chapter 6 The Selection of Scenarios -- Selecting Scenarios -- Regulatory Requirements -- Business Drivers -- Data Quality and Availability of Reference Data -- Maintenance of the Scenario Repository -- How Specific should a Scenario Rule Be? -- Overlapping Scenario Rules -- Summary -- Chapter 7 Entity Resolution and Watchlist Matching -- Entity Resolution -- Watchlists -- Summary -- Chapter 8 Customer Segmentation -- The Need for Segmenting Customers -- Approaches to Segmentation -- Overview of Segmentation Steps -- Organizational Profiling -- Common Segmentation Dimensions -- Considerations in Defining Segments -- Check Source Data for Segmentation -- Verify with Statistical Analysis -- Ongoing Monitoring -- Change of Segmentation -- Summary -- Chapter 9 Scenario Threshold Tuning -- The Need for Tuning -- Parameters and Thresholds -- True versus False, Positive versus Negative -- Cost -- Adapting to the Environment -- Relatively Simple Ways to Tune Thresholds -- Objective of Scenario Threshold Tuning -- Increasing Alert Productivity -- Definition of a Productive Alert -- Use of Thresholds in Different Kinds of Scenario Rules -- Regulation-Driven Rules -- Statistical Outlier -- Insignificance Threshold -- Safety-Blanket Rules -- Combining Parameters -- Steps for Threshold Tuning -- Step 11. Report Write-Up -- Preparation of Analysis Data -- Scope of Data -- Data Columns -- Quick and Easy Approach -- Analysis of Dates -- Stratified Sampling -- Statistical Analysis of Each Tunable Scenario Threshold Variable -- Population Distribution Table by Percentile (Ranking Analysis) -- Distribution Diagram Compressed as a Single Line -- Multiple Peaks -- Zeros -- Above-the-Line Analysis and Below-the-Line Analysis -- Above-the-Line Analysis -- Below-the-Line Analysis.

Use of Scatter plots and Interactions between Parameter Variables -- Binary Search -- What-If Tests and Mock Investigation -- What-If Tests -- Sample Comparisons of What-If Tests -- Qualifying Results of What-If Tests -- Scenario Review Report -- Scenario Review Approach -- Scenario Review Results -- Summary -- Index -- EULA.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.