A novel multiobjective approach for detecting money laundering with a neuro-fuzzy technique

Mohammad (Behdad) Jamshidi, Mohammadreza Gorjiankhanzad, Ali Lalbakhsh, Saeed Roshani

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contributionpeer-review

6 Citations (Scopus)

Abstract

Using the computational inelegant methods in processing financial data is a practicable action to reduce a wide variety of crime in this domain. In this paper, a new intelligent multiobjective to recognize money laundering in banks and currency exchanges is presented. The introduced approach is based on Adaptive Neuro-Fuzzy Inference System (ANFIS) which is set up by MATLAB software. The proposed method can replace conventional methods to detect the risk of money laundering in suspicious banking transaction. In addition, this approach can be used in banking systems as an online technique to analyze the data of customers' accounts. Also, the probability of money laundering's risk for each exchange is processed and monitored. One of the main advantages of the system is categorizing customers for different customers. The results illustrate the accuracy of this system in filtration of accounts infected by money laundering is acceptable.

Original languageEnglish
Title of host publicationProceedings of the 2019 IEEE 16th International Conference on Networking, Sensing and Control, ICNSC 2019
EditorsHaibin Zhu, Jiacun Wang, MengChu Zhou
Place of PublicationPiscataway, NJ
PublisherInstitute of Electrical and Electronics Engineers (IEEE)
Pages454-458
Number of pages5
ISBN (Electronic)9781728100838
DOIs
Publication statusPublished - 2019
Externally publishedYes
Event16th IEEE International Conference on Networking, Sensing and Control, ICNSC 2019 - Banff, Canada
Duration: 9 May 201911 May 2019

Conference

Conference16th IEEE International Conference on Networking, Sensing and Control, ICNSC 2019
CountryCanada
CityBanff
Period9/05/1911/05/19

Keywords

  • ANFIS
  • Artificial intelligence
  • Banking
  • Computational intelligence
  • Currency exchange
  • Money laundering

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