Privacy-Preserving Collaborative Money Laundering Detection

Criminal transaction flows can be obfuscated by spreading transactions over multiple banks. Collaboration between banks is key to tackling this; however, data sharing between banks is often undesirable for privacy reasons or is restricted by legislation. In the MPC4AML project, research institute TNO and Dutch banks ABN AMRO and Rabobank are researching the feasibility of using Secure Multi-Party Computation (MPC) to detect money laundering.