Statistics Seminar:: Statistical Methodology to Combat Money Laundering

Event Details
  • Date/Time:
    • Wednesday April 27, 2005
      12:00 pm - 11:59 pm
  • Location: 228 ISyE Main Building
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Barbara Christopher
Industrial and Systems Engineering
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Summary Sentence: Statistics Seminar:: Statistical Methodology to Combat Money Laundering

Full Summary: Statistics Seminar:: Statistical Methodology to Combat Money Laundering

Financial institutions may be used unwittingly as intermediaries for money laundering activities, a process to conceal the true source of funds that were originally derived from criminal activity. The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot) Act, which amends the Bank Secrecy Act (BSA), was adopted in response to the September 11 terrorist attacks. The Patriot Act is intended to strengthen U.S. measures to prevent, detect, and prosecute international money laundering and the financing of terrorism for which it requires financial institution to implement an effective anti-money laundering (AML) program.
AML program, which includes a compliance program (e.g., policies, procedures, compliance officer to monitor the program, training, and independent audit to test and verify the program) as well as ad-hoc activities to investigate and report suspicious activities, is increasingly supplemented by computing technology to monitor a vast amount of transactions to facilitate identification of possible suspicious transaction activities.
In this talk, I am going to discuss statistical framework to aid the prevention and detection

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In Campus Calendar

School of Industrial and Systems Engineering (ISYE)

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  • Created By: Barbara Christopher
  • Workflow Status: Published
  • Created On: Oct 8, 2010 - 7:38am
  • Last Updated: Oct 7, 2016 - 9:52pm