Anti-Money Laundering (AML) — Open source Libraries and Solutions
The U.S. Department of Justice repatriated an additional $452 million in 1MDB funds to Malaysia. This repatriation took the total amount recovered from the corruption scandal to $1.2 billion. The funds had been laundered through major financial institutions worldwide, including in the United States, Switzerland, Singapore, and Luxembourg.
While there are multiple global regulations targeting money laundering, multiple estimates peg the size of money laundering between $800 billion to $2 trillion annually. While there are multiple commercially available AML packages, the core technologies are the ability to stream-process vast sources of information and intelligent algorithms to identify money laundering patterns.
kandi collection on Anti-Money Laundering covers open source libraries across data scraping, stream processing, open source intelligence (OSINT Framework), anti-money laundering algorithms, and case management for anti-money laundering.