It took a little while to write, but hopefully the following survey paper by Yang Li, Thilina Ranbaduge and yours truly can help demystify financial intelligence and privacy technologies for practitioners and technologists alike. The focus is on anti-money laundering and counter-terrorism financing, but the opportunity set is much broader.
https://arxiv.org/abs/2408.09935
Here’s the abstract of the paper: Financial crimes like terrorism financing and money laundering can have real impacts on society, including the abuse and mismanagement of public funds, increase in societal problems such as drug trafficking and illicit gambling with attendant economic costs, and loss of innocent lives in the case of terrorism activities. Complex financial crimes can be hard to detect primarily because data related to different pieces of the overall puzzle are usually distributed across a network of financial institutions, regulators, and law-enforcement agencies and they cannot be easily shared due to privacy constraints. Recent advances in Privacy-Preserving Data Matching and Machine Learning provide an opportunity for regulators and the financial industry to come together to solve the risk-discovery problem with technology. This paper provides a survey of the financial intelligence landscape and where opportunities lie for privacy technologies to improve the state-of-the-art in financial-crime detection.
Mental Models 4 Life 