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2008

Scalable and interactive visual analysis of financial wire transactions for fraud detection

9 years 3 months ago
Scalable and interactive visual analysis of financial wire transactions for fraud detection
Large financial institutions such as Bank of America handle hundreds of thousands of wire transactions per day. Although most transactions are legitimate, these institutions have legal and financial obligations in discovering those that are suspicious. With the methods of fraudulent activities ever changing, searching on predefined patterns is often insufficient in detecting previously undiscovered methods. In this paper, we present a set of coordinated visualizations based on identifying specific keywords within the wire transactions. The different views used in our system depict relationships among keywords and accounts over time. Furthermore, we introduce a search-by-example technique which extracts accounts that show similar transaction patterns. Our system can be connected to a database to handle millions of transactions and still preserve high interactivity. In collaboration with the Anti-Money Laundering division at Bank of America, we demonstrate that using our tool, investiga...
Remco Chang, Alvin Lee, Mohammad Ghoniem, Robert K
Added 12 Dec 2010
Updated 12 Dec 2010
Type Journal
Year 2008
Where IVS
Authors Remco Chang, Alvin Lee, Mohammad Ghoniem, Robert Kosara, William Ribarsky, Jing Yang, Evan A. Suma, Caroline Ziemkiewicz, Daniel Kern, Agus Sudjianto
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