The FinCEN AI System: Finding Financial Crimes in a Large Database of Cash Transactions
This chapter discusses the FinCEN Artificial Intelligence System (FAIS) and its continued development as a case-study of AI analysis of a financial database. We first present a brief description of the system, along with an update of what has been accomplished since the system was reported in (Senator, 1995). The version of FAIS reported there is V2.0, which has been in operation since December 1994. We next discuss some generally applicable conclusions regarding knowledge discovery in databases (KDD), in particular, the essential role of data preparation and database transformation steps in knowledge discovery systems. Finally, we discuss our plans for system improvements and future development in the context of an expanded agency mission, including not only incremental changes but also a major redesign, referred to as V3.0 of FAIS.
KeywordsKnowledge Discovery Credit Union Money Laundering Retail Business Real Database
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