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Clamping Down on Money Laundering Applying Pattern Recognition
Clamping Down on Money Laundering According to a Reuters wire, Swiss bank UBS is going to be using some British technology to detect money laundering activities (UBS Clamps Down on Money Laundering). SearchSpace's technology is already used in the London Stock Exchange to detect fraudulent insider trading and share-price ramping. I suspect a combination of pattern recognition and data-mining algorithms are used to extract the potential frauds from the huge transaction logs. It would be interesting to find out more about the details, though I assume it's all kept very secret -- with it being a highly profitable business ;) | Alex J. Champandard 934 posts. Thursday 28 March, 20:32 Reply