Fighting Terrorism and Money Laundering with Data

Technology has advanced in recent years allowing for due diligence systems to become more precise in detecting terrorism financing and money laundering with the help of data analysis.  The use of cognitive search and analytics technologies enables financial institutions and individual entities to prevent potential risks through quick and efficient intelligence services.

Specifically, cognitive search and analytics tools facilitate in interpreting data and analyzing text in near real time.  Through these technologies, a series of networks is provided between people, topics, and locations, making it significantly easier for anti-money laundering (AML) regulation.  Automation of these identification processes can expose those linked to the dark net by monitoring behavioral patterns that lead to cyber criminals.  Using small traces of data, cognitive technology creates the conditions for mapping to occur making identification of fraudulent activity more transparent.

Additionally, the use of social media monitoring allows authorities to trace cyber crime.  It provides insights to potential threats in order to decrease future attacks. Monitoring social media uncovers radical profiles and exposes terrorists’ and criminals’ threatening plans.

Overall, with money laundering and other crimes being committed through the use of the internet and digital technology, the need for more advanced and customizable compliance software and technology is vital for the fight against terrorism, fraud and money laundering.


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