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Welcome to the ACAMS Web Seminar

Utilizing AML Data Analytics to Identify Emerging Criminal Patterns

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Speakers

Jim Candelmo, CAMSExecutive Compliance Director & BSA AML Officer

Ally Financial

Steve Gurdak, CAMSSupervisory Analyst

High Intensity Drug Trafficking Area

Moderator

Gail Towne, CAMS

Director AML Modeling and Data Governance

BMO Financial Group


• Building Blocks – Centralized– Data Governance

• Defined Roles/Responsibilities and Data Taxonomies• To ensure a consistent and repeatable approach• Controls• Reports/Metrics – Basel Principles for effective risk data

aggregation & risk reporting (http://www.bis.org/publ/bcbs239.pdf )

– Data Management - “Clean” – Accessible to AML Data Scientist/Analyst & FIU for

consumption

http://www.bis.org/publ/bcbs239.pdf


• People

– Adequate Numbers

– Qualified / Trained

• In-house

• Consultants

• Third Party

• Interns from your local university

– Retention

– Shadow or dedicated FIU for both Analytical & Technological FTE


• What is Analytics?

Start with What is not Analytics


• What is Analytics?

• Reporting / Business Intelligence – uses analytics, but is different from analytics; "The analysis of all kinds of data using sophisticated quantitative methods (for example, statistics, descriptive and predictive data mining, simulation and optimization) to produce insights that traditional approaches to business intelligence (BI) — such as query and reporting — are unlikely to discover." (http://www.applieddatalabs.com/content/new-gartner-magic-quadrant-advanced-analytics-platforms)

http://www.applieddatalabs.com/content/new-gartner-magic-quadrant-advanced-analytics-platforms


• What is Analytics? • Gartner has created its own definition: "Analytics

leverage data in a particular functional process (or application) to enable context-specific insight that is actionable." (http://www.infoworld.com/article/2655501/databas

e/-analytics--buzzword-needs-careful-definition.html)

http://www.infoworld.com/article/2655501/database/-analytics--buzzword-needs-careful-definition.html


– Tools

• Leverage existing company tools – typically, SQL, R, SAS

• “Bolt-on” solutions - Tableau, Business Objects, Spotfire, RapidMiner, Knime, Revolution Analytics, SAP, StatSoft, Angoss, FICO, Alteryx, Oracle, Megaputer, Alpine Data Labs, Microsoft Access/Excel, InfoCentricity, Actuate, ….


Emerging standards around Data Analytics

• Are there any or is it the wild west of Data Analytics?


• Now What do you Do with It ?

– Monitoring

• Surveillance/Monitoring

• Ad Hoc


• Now What do you Do with It ?

– Investigations

• Enriching investigations processes – In house efforts

• What about “Big Data”?– How to utilize the information to assist your FIU?


• What About Emerging Criminal Patterns?

Totally different game

• Staffing–Data Analytics–AML Professional–Researcher

• Training–At least two training tracks


•What About Emerging Criminal Patterns?

– Leveraging Financial Institution Data Analytics

• SARS

• Beyond SARs-Effective Law Enforcement Feedback


•What About Emerging Criminal Patterns? – Examples

• Social Media on Customer Trends

• Pizza shop or gas station example– How to utilize your tools to find the golden nuggets?

– How to get the information to the FIU?


ACAMS Today March-May 2012


What/Who is the END GAME? Law Enforcement

Regulator

Management

Other?

Why am I doing this?


What does success look like?

Arrests/Indictments

Better identifying suspicious accounts

Save the World


– Emerging Patterns

• Marijuana

selling is not commensurate with electric bill or water bill for hydroponic cultivator;

are we being willfully blind to what is being paid? Go back to the KYC data – enrich where appropriate…..

“Know your Marijuana Industry”


– Emerging Patterns

• Bit Coin – how do you use data to identify transactors?

• Analytical power of “trackable” currency.


Guardrails on Regulatory Expectations

When “Gatekeeper” collides with “Big Data”

Are FI’s responsible for surveying open source data for the benefit of the government?

Are FI’s responsible for surveying government data for the benefit of the government?


If you have additional questions for today’s experts,or

suggestions for future web seminars,

please send those to:

[email protected]

Thank you for joining us today!

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mailto:[email protected]


Future Web SeminarsNOV 12 – Case Study: Western Express: An Exposé of Digital Crimes

Investment AdvisorsLevel: AllNoon to 2:00pm EDT

NOV 19 – Improving Audit Testing of Anti-Bribery and Corruption FunctionsLevel: Basic/Intermediate Noon to 2:00pm EDT

NOV 20 – Changing the AML game – from reporting to rejecting suspicions?Level: All Noon to 2:00pm EDT

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