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Financial Analytic Services

U.S. Government regulations require that financial institutions develop and maintain formal Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) compliance programs. Although AML/ATF laws cover a limited number of transactions and criminal behaviors, their implications are extremely far-reaching and include multi-million dollar fines, criminal liability, congressional scrutiny, and loss of reputation.

Dealing with the complexities of AML/ATF compliance is daunting for financial institutions and requires a new approach with new tools.  Booz Allen Hamilton is actively involved in AML/ATF compliance and has been a key supporter to U.S. Government AML/ATF efforts.  We are uniquely positioned to assist private financial institutions to succeed in AML/ATF compliance.

Booz Allen is now working with the International Management Advisory Group (IMAG) to deliver financial analytic services that will result in a better, faster, and safer way for financial institutions to more effectively prevent money laundering and terrorist financing.  The financial analytic service offering by Booz Allen and IMAG makes it possible for banks to conduct AML/ATF using analytic tools never before used in a commercial application.  Developed over a two year period at several public sector financial institutions, the offering provides clients with increased certainty into possible terrorist-financing and compliance risks as well as proven solutions to monitor account activity and produce actionable intelligence.

Financial analytic services—the use of mathematics and visualization techniques to discover patterns that help indicate a specific behavior of interest, including previously unknown behavior—yield objective, repeatable, and verifiable results. 

Our Capabilities

Booz Allen offers a solution set of proven tools to help clients answer the who, what, when, and where of money laundering and terrorist financing:

  • Social Network Analysis—Maps and measures social relationships and flows between people, groups, organizations, computers, or other information/knowledge processing entities.
  • Predictive Analysis—A group of techniques, including agent-based modeling and neural networks, to detect anomalies and behavior intended to evade or subvert AML/ATF rules.
  • Knowledge Extraction—Methods that analyze, categorize, and summarize data from multiple dimensions or angles to find patterns among large relational databases.
  • Spatial Analysis—In combination with link analysis, spatial methods identify patterns of suspicious activity, focus on hotspots and anomalies, and help uncover new relationships between transactions.
  • Compliance Diagnostics—Examination of nine core components of a bank’s AML/ATF compliance program to measure their maturity and determine monitoring, reporting, and training strengths and weaknesses.
  • Cost-Structure Analysis—Cost-structure analysis to track expenses by line item, program, and head-count to help senior management determine cost-benefit tradeoffs and return on investment for a wide-range of activities, projects, and investments.

Our Work

 The following case studies highlight Booz Allen’s AML/ATF work:

  • Financial Action Task Force (FATF) compliance—Booz Allen provided essential technical assistance through a program to bolster the resiliency of an Asian financial system.
  • Visualization modeling—Booz Allen developed a system that integrates leading edge commercial data visualization tools to analyze financial data sets used by criminal investigators and identify potential financial crimes for a U.S. Government criminal investigation unit.
  • Trader malfeasance prevention—Booz Allen developed an automated and statistically-driven market surveillance algorithm that enabled a stock exchange to reduce the risk of illegal trading based on pre-defined parameters.
  • Data mining—Booz Allen saved a U.S. Government agency $270M by applying predictive modeling to a quality review process for a government disability program.
  • Predictive modeling—Booz Allen improved the collections strategy of a national tax collection authority by prioritizing past due accounts using predictive models, resulting in significantly increased revenue collection.
  • Multi-disciplinary analytics—Booz Allen developed a novel methodology to study global financial networks geospatially for the U.S. Government. This methodology provided analysts the ability to assess where in the world an entity operates within the context of the global banking system.

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