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| Author: | Gao, S. (et al.) |
| Title: | Knowledge-based anti-money laundering: a software agent bank application |
| Journal: | Journal of Knowledge Management
2009 : VOL. 13:2, p. 63-75 |
| Index terms: | financial control crime knowledge management information technology software |
| Freeterms: | intelligent agents money laundering |
| Language: | eng |
| Abstract: | In today's technology-driven society, criminal elements are using every possible means to launder the proceeds from their illegal activities. While many anti-money laundering (AML) solutions have been there for some time within the financial community, they are faced by the challenge of adapting to the ever-changing risk and methods as to money laundering (ML). This study focuses on ML control and prevention, aiming to automate the monitoring and diagnosing of ML schemes to report suspicious activities to banks. The technology of intelligent agents is adopted to provide a more adaptive, flexible, and knowledge-based (here as: k-b.) solution for AML. The proposed multi-agent framework is a stand-alone system, and possible to be integrated by banks to act against ML. The approach of applying an intelligent agent for k-b. AML in an electronic transaction environment for banks is explored. By separating business logic from the business model, such a business-rules approach can enhance the flexibility and adaptability of the agent-based AML system. |
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