Artificial intelligence makes money laundering difficult
Data exchange plays an important role in the fight against money laundering. But how do banks safeguard the privacy of their customers in this regard? We have developed a solution in collaboration with Rabobank and ABN AMRO: multi-party computation. Using artificial intelligence, banks jointly analyse sensitive data without actually sharing it. Find out how.
Money laundering
Money laundering often involves large amounts of money. But any self-respecting criminal uses multiple transactions at different banks when doing so, often involving a mix of national and international banks. Add to this the fact that criminals also regularly use cryptocurrencies in money laundering. In short, it is clear how difficult it is for banks to get a clear picture of these shady practices.
Multi-party computation (MPC)
The solution to combating money laundering lies in the mutual exchange of data. But, of course, within the limits of the Privacy Act. And yes, it is possible. But you need a good dose of artificial intelligence. In close collaboration with Rabobank and ABN AMRO, we have developed a Multi-Party Computation (MPC) solution. With this, banks perform analyses on shared data via an AI system, nationally and internationally.
Encryption technology
Thanks to innovative encryption technology, this can be done in such a way that no person or system can see the data. Banks are using this solution internationally. Privacy and confidentiality of the data remain guaranteed. So, it is an ideal starting point for uncovering money laundering via data analysis.
Richer data sets with AI
The MPC solution also lends itself very well to fraud detection. And as a research tool. The AI system securely links databases containing the most sensitive types of information. This results in richer data sets, which in turn opens up new applications. For example, the possibilities within the healthcare sector with AI.
Contact us
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Alex Sangers
Functie:Project leader Privacy Enhancing Technologies“When we’re on the right track, great things happen”. The true value of knowledge lies in its practical application, says Alex Sangers. Using mathematical models to solve real-world problems is absolutely fantastic.
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Standplaats:Den Haag - New Babylon
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Email:Email Alex
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LinkedIn:Alex on LinkedIn
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Christopher Brewster
Functie:Senior scientistChristopher Brewster is a Senior Scientist in the Data Science group and Professor of the Application of Emerging Technologies in the Institute of Data Science, Maastricht University. His research has focussed on the application of Semantic Technologies, Open and Linked Data, interoperability architectures and Data Governance, mostly to the food and agriculture domains.
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Standplaats:Soesterberg
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Telefoon:+31 6 27 05 46 46
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Email:Email Christopher
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LinkedIn:Christopher on LinkedIn
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Daniël Worm
Functie:Senior consultantDaniël Worm is senior consultant at the Applied Cryptography & Quantum Algorithms department, specialized in Privacy Enhancing Technologies like Secure Multi-Party Computation and Federated Learning.
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Standplaats:Den Haag - New Babylon
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Telefoon:+31 6 21 13 45 84
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Email:Email Daniël
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LinkedIn:Daniël on LinkedIn
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Frank Benders
Functie:Principal Systems Engineer / Architect-
Standplaats:Helmond
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Telefoon:+31 6 22 48 74 93
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Email:Email Frank
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Frans van Ette
Functie:Programma Directeur AI-
Standplaats:Den Haag - New Babylon
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Telefoon:+31 88 866 14 29
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Email:Email Frans
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Gu van Rhijn
Function not known-
Standplaats:Leiden - Sylviusweg
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Telefoon:+31 88 866 53 05
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Email:Email Gu
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Jack Verhoosel
Functie:Senior Consulting Scientist-
Standplaats:Soesterberg
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Telefoon:+31 6 51 89 46 32
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Email:Email Jack
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LinkedIn:Jack on LinkedIn
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Jan-Pieter Paardekooper
Functie:Scientist Integrator-
Standplaats:Helmond
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Telefoon:+31 88 866 73 15
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Email:Email Jan-Pieter
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Jasper van der Waa
Functie:Scientist Human-AI CollaborationFor humans and AI applications to function effectively and responsibly, they need to collaborate. My research revolves around shaping that human-AI collaboration.
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Standplaats:Soesterberg
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Telefoon:+31 6 11 53 98 95
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Email:Email Jasper
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LinkedIn:Jasper on LinkedIn
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Jok Tang
Functie:Research Manager Build EnvironmentHi, I'm Jok, working for the Data Science Department, specialized in (1) explainable and trustworthy AI, (2) hybrid AI where we combine data-driven and knowledge-driven models, and (3) learning from human linguistics.
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Standplaats:Den Haag - New Babylon
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Telefoon:+31 6 21 33 27 63
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Email:Email Jok
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LinkedIn:Jok on LinkedIn
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Jos Hegge
Function not known-
Standplaats:Eindhoven - High Tech Campus 25
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Telefoon:+3161112206
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Email:Email Jos
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LinkedIn:Jos on LinkedIn
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