scholarly journals Money laundering, terrorist financing and how to contrast them: data and text mining in business intelligence solutions

2007 ◽  
Author(s):  
F. R. Federici
Keyword(s):  
Text Mining ◽  
Money Laundering ◽  
Business Intelligence ◽  
Terrorist Financing

Countering money laundering and terrorist financing: A case for bitcoin regulation

2021 ◽  
Vol 56 ◽  
pp. 101387
Author(s):  
Emily Fletcher ◽  
Charles Larkin ◽  
Shaen Corbet
Keyword(s):  
Money Laundering ◽  
Terrorist Financing

scholarly journals Reconciliation of anti-money laundering instruments and European data protection requirements in permissionless blockchain spaces

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Iwona Karasek-Wojciechowicz
Keyword(s):  
Data Processing ◽  
Money Laundering ◽  
Data Protection ◽  
Task Force ◽  
Policy Instruments ◽  
Personal Data ◽  
General Data Protection Regulation ◽  
Terrorist Financing ◽  
The Government ◽  
High Level

AbstractThis article is an attempt to reconcile the requirements of the EU General Data Protection Regulation (GDPR) and anti-money laundering and combat terrorist financing (AML/CFT) instruments used in permissionless ecosystems based on distributed ledger technology (DLT). Usually, analysis is focused only on one of these regulations. Covering by this research the interplay between both regulations reveals their incoherencies in relation to permissionless DLT. The GDPR requirements force permissionless blockchain communities to use anonymization or, at the very least, strong pseudonymization technologies to ensure compliance of data processing with the GDPR. At the same time, instruments of global AML/CFT policy that are presently being implemented in many countries following the recommendations of the Financial Action Task Force, counteract the anonymity-enhanced technologies built into blockchain protocols. Solutions suggested in this article aim to induce the shaping of permissionless DLT-based networks in ways that at the same time would secure the protection of personal data according to the GDPR rules, while also addressing the money laundering and terrorist financing risks created by transactions in anonymous blockchain spaces or those with strong pseudonyms. Searching for new policy instruments is necessary to ensure that governments do not combat the development of all privacy-blockchains so as to enable a high level of privacy protection and GDPR-compliant data processing. This article indicates two AML/CFT tools which may be helpful for shaping privacy-blockchains that can enable the feasibility of such tools. The first tool is exceptional government access to transactional data written on non-transparent ledgers, obfuscated by advanced anonymization cryptography. The tool should be optional for networks as long as another effective AML/CFT measures are accessible for the intermediaries or for the government in relation to a given network. If these other measures are not available and the network does not grant exceptional access, the regulations should allow governments to combat the development of those networks. Effective tools in that scope should target the value of privacy-cryptocurrency, not its users. Such tools could include, as a tool of last resort, state attacks which would undermine the trust of the community in a specific network.

scholarly journals The Effects of Money Laundering (ML) on Growth Application to the Gulf Countries

2020 ◽  
pp. 1428-1441
Author(s):  
Fakhri Issaoui ◽  
Toumi Hassen ◽  
Touili Wassim
Keyword(s):  
Logistic Regression ◽  
Saudi Arabia ◽  
Money Laundering ◽  
Logit Model ◽  
Terrorist Financing ◽  
Positive Effects ◽  
The Third ◽  
Suspicious Transaction ◽  
Gulf Countries ◽  
Strategic Goal

The strategic goal of this paper is to study the effects of the prevention policies against money laundering on growth in the gulf countries (Saudi Arabia, Kuwait, Qatar, Bahrain, UAE and Oman) from 1980 to 2014. Thus, the logistic regression (logit model) had given three fundamental results. The first had shown that the main policies in matter of fight against money laundering (anti money laundering law AMLL, suspicious transaction reporting STR, the criminalizing of terrorist financing CTF) have had positive effects on the increasing of probabilities to realize more growth. The second is that the said policies have had positive effects on the increasing of the degree of openness of the whole sample. The third is that the variable (proximity) had a positive and significant effect on anti-money laundering policies.

scholarly journals FATF and Terror Financing: The Perspective of Pakistan

2021 ◽  
Vol VI (II) ◽  
pp. 1-10
Author(s):  
Shabnam Gul ◽  
Muhammad Faizan Asghar ◽  
Shujat Ali
Keyword(s):  
Money Laundering ◽  
Rule Of Law ◽  
International Organizations ◽  
Third World ◽  
World State ◽  
Terrorist Financing ◽  
Financial Transaction ◽  
The World ◽  
Money Transfers ◽  
And Control

There is a plethora of international organizations that has been formed to maintain peace in the world. FATF is such an organization that has been formed in order to scrutinize and control the menace of money laundering and that of the terror financing. In a third world state like Pakistan where there is dearth of transparent mechanisms of money transfers and where there is no rule of law, it has become easy for the individuals to carry out the illicit activities like money laundering (Dube and Vargas, 2013). Pakistan has been in the grey list from the last few years and it has dramatically affected the economy of Pakistan. Pakistan has established a number of centralized mechanisms that are, without a doubt, on the correct track for monitoring the financial transaction system, which is currently very near to meet the certain much needed criteria for finding and freezing the founded and highlighted money laundering cases and that of the terrorist financing.

Measures to combat money laundering and terrorist financing in Palestine

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Murrar Firas
Keyword(s):  
Money Laundering ◽  
Task Force ◽  
Evaluation Process ◽  
Vital Role ◽  
Assessment Process ◽  
National Committee ◽  
Content Type ◽  
Terrorist Financing ◽  
Mutual Evaluation ◽  
Combat Money Laundering

Purpose The purpose of this paper is to analyse the evolution of anti-money laundering/combating the financing of terrorism (AML/CFT) procedures in Palestine since 2004 in accordance with the standards issued by the Financial Action Task Force (FATF). Design/methodology/approach This study is qualitative in nature and involves studying the most important improvements made by Palestinian authorities in the state’s legislative and institutional frameworks to enhance the AML/CFT regime. Findings Palestine has established the necessary legal basis to combat money laundering and terrorist financing crimes. At the institutional level, the Financial Follow-up Unit was granted all the required powers of Financial Intelligence Units. The National Committee for Combating Money Laundering and Financing Terrorism has also played a vital role in issuing policies and plans to respond to the outcomes of the National Risk Assessment process. In contrast, a number of challenges still exist mainly with respect to the political factors and their expected consequences on the process of preparing for and conducting the mutual evaluation process for Palestine. Originality/value This study focusses on the AML/CFT efforts in Palestine owing to the nature and specificity of the Palestinian situation, as Palestine’s AML/CFT procedures have not been subject to any previous mutual evaluation process by the MENAFATF. Such efforts have rarely addressed the Palestinian case, making this study important to researchers and those interested in this field.

Incorporating Text OLAP in Business Intelligence

2011 ◽  
pp. 77-101 ◽  
Author(s):  
Byung-Kwon Park ◽  
Il-Yeol Song
Keyword(s):  
Information Retrieval ◽  
Text Mining ◽  
Business Intelligence ◽  
Multidimensional Analysis ◽  
Web Pages ◽  
Data Types ◽  
Text Documents ◽  
Text Data ◽  
Platform Architecture ◽  
Unstructured Text

As the amount of data grows very fast inside and outside of an enterprise, it is getting important to seamlessly analyze both data types for total business intelligence. The data can be classified into two categories: structured and unstructured. For getting total business intelligence, it is important to seamlessly analyze both of them. Especially, as most of business data are unstructured text documents, including the Web pages in Internet, we need a Text OLAP solution to perform multidimensional analysis of text documents in the same way as structured relational data. We first survey the representative works selected for demonstrating how the technologies of text mining and information retrieval can be applied for multidimensional analysis of text documents, because they are major technologies handling text data. And then, we survey the representative works selected for demonstrating how we can associate and consolidate both unstructured text documents and structured relation data for obtaining total business intelligence. Finally, we present a future business intelligence platform architecture as well as related research topics. We expect the proposed total heterogeneous business intelligence architecture, which integrates information retrieval, text mining, and information extraction technologies all together, including relational OLAP technologies, would make a better platform toward total business intelligence.

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