Developing Web-Based Reports to Increase the Effectiveness of Anti-Money Laundering Investigations Using Tableau Software
Name
Georg Caius Kutsar
Abstract
In recent years, the global financial sector has made it a priority to step up its efforts to prevent money laundering and terrorist financing. These actions are taken in order to prevent the possibility of conducting transactions with criminals. Financial institutions that fail to comply with their regulatory obligations risk their reputation, may expect fines from supervisors or even lose their license. During the bachelor's thesis, a web-based set of reports was created with the interactive business analysis software Tableau for the companies belonging to the Tavex Group. The set of reports helps to improve the work in the field of money laundering prevention.
As of April 2021, the set of reports was created for ten companies, but is well adaptable in case a new company is added. The created software will be primarily used by the employees of the anti-money laundering structural units. The greatest value of the software is the possibilty to save time when creating answers to inquiries of supervisory authorities. It also provides an opportunity for more detailed day-to-day monitoring of customers and transactions.
The online reports are connected directly to the company's database, which means they always contain the most up-to-date data. To give the end users more choice in determining the content of the desired report, additional interactivity was added by creating parameters and calculated fields functionalities in Tableau.
After publishing the created software, several companies used it for creating regular reports for the supervisory authorities. It also became useful in daily customers and transactions monitoring and also for the determination of the overall risk assessment of the Tavex Group.
As of April 2021, the set of reports was created for ten companies, but is well adaptable in case a new company is added. The created software will be primarily used by the employees of the anti-money laundering structural units. The greatest value of the software is the possibilty to save time when creating answers to inquiries of supervisory authorities. It also provides an opportunity for more detailed day-to-day monitoring of customers and transactions.
The online reports are connected directly to the company's database, which means they always contain the most up-to-date data. To give the end users more choice in determining the content of the desired report, additional interactivity was added by creating parameters and calculated fields functionalities in Tableau.
After publishing the created software, several companies used it for creating regular reports for the supervisory authorities. It also became useful in daily customers and transactions monitoring and also for the determination of the overall risk assessment of the Tavex Group.
Graduation Thesis language
Estonian
Graduation Thesis type
Bachelor - Computer Science
Supervisor(s)
Ahti Põder
Defence year
2021