Technologies for Detecting Money Laundering

t the core of all wire transfer monitoring proposals are one or more computer technologies. Many of these technologies rely upon techniques developed in the field of artificial intelligence (AI). Others involve computer graphics and statistical computing. Wire transfer monitoring proposals generally involve a combination of technologies, institutional structures, and reporting requirements. Four of these combinations are presented as options in chapter 7. However, a limited set of technologies and their relative capabilities form the core of each option. This chapter discusses two topics central to understanding these technical options and the policies surrounding their use. The first section introduces several basic technologies that are employed in one or more options. The second section discusses challenges that must be overcome by all options. These challenges involve characteristics of wire transfer data and money laundering profiles.