Asian Journal of Engineering and Technology Innovation
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Database Analysis as an Anti-Money Laundering Strategy for Financial Institutions
Ragina Nair, Digambar Patil, Bhavana Dhobale,Rutuja Pachkude
Computer Engineering Indira College of Engineering and Management, Parandwadi, Pune
Abstract
In financial institutions in which large amount of financial data is investigated in large amount. In financial institutions there are various forms of crime and money laundering is one comprising the internal policies .However, the majority of financial institutions have adopted that does not produce the desired effect for detection procedures and large in area for reporting tasks to detect money laundering without incorporating digital forensic practices to handle evidence. Thus, in this article, we propose an anti-money laundering modelby combining digital forensics practices along with database tools and database analysis methodologies. As there are adverse effects, able to admitted Suspicious Activity Reports (SARs) can be generated, based on evidence obtained from forensically analysing database financial logs in compliance with Know-Your- Customerpoliciesfor money laundering detection.
