Application of Cluster-Based Local Outlier Factor Algorithm in Anti-Money Laundering

• Published in: 2009 International Conference on Management and Service Science pp. 1 - 4
• Main Author: Gao Zengan
• Format: Conference Proceeding
• Language: English
• Published: IEEE 01.09.2009
• Subjects: Algorithm design and analysis; Artificial intelligence; Clustering algorithms; Financial management; Pattern analysis; Pattern recognition; Support vector machines; Terrorism; Testing; Training data

Financial institutions' capability in recognizing suspicious money laundering transactional behavioral patterns (SMLTBPs) is critical to antimoney laundering. Combining distance-based unsupervised clustering and local outlier detection, this paper designs a new cluster based local outlier facto...