ABSTRACT

Information Technologies for the Control of Money Laundering   [open pdf - 1MB]

"The key to control of international crime may depend on cutting off the flow of illegal profits to criminal organizations. It is estimated that $300 billion of "dirty money" may be laundered each year, its origin and ownership obscured as it passes through financial institutions and across national boundaries in an effort to hide and protect it from law enforcement authorities. Criminal organizations, like legitimate businesses, enjoy a swift and nearly risk-free conduit for moving money between countries-wire transfer systems. Illicit wire transfers are easily hidden among the 700,000 mostly legitimate wire transfers that occur daily in the United States, moving well over $2 trillion. OTA was asked by the Permanent Subcommittee on Investigations of the Senate Committee on Governmental Affairs to assess the proposed use of techniques derived from artificial intelligence research to monitor wire transfer traffic and recognize suspicious transfers." This report provides the results of their assessment.

Report Number:
OTA-ITC-630
Publisher:
Date:
1995-09
Copyright:
Public Domain
Retrieved From:
Woodrow Wilson School of Public and International Affairs: http://www.wws.princeton.edu/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations