Luke Mawbey, Head of Technology, ComplyAdvantage - Fighting corruption with technology
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This document discusses how technology can help fight corruption. It notes that corruption costs $1.5 trillion in bribes and $3 trillion in money laundering each year. Traditional screening providers can only check 120-24,000 articles per day, while ComplyDetect can check over 20 million articles per day using techniques like named entity recognition, relation detection, and collecting publicly available data from the internet and structured databases to detect corrupt politicians and implications of corruption in an automated way. This allows for much more data to be screened than traditional manual methods.
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Luke Mawbey, Head of Technology, ComplyAdvantage - Fighting corruption with technology
- 1. 1 Luke Mawbey, VP of Engineering, ComplyAdvantage Fighting Corruption with Technology
- 2. 2
- 3. FIGHTING CORRUPTION WITH TECHNOLOGY Corruption is an insidious plague that … undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organized crime, terrorism and other threats to human security to flourish. – United Nations Convention Against Corruption “ ”
- 4. FIGHTING CORRUPTION WITH TECHNOLOGY Corruption impacts societies in a multitude of ways. In the worst cases, it costs lives. Short of this, it costs people their freedom, health or money. – Transparency International “ ”
- 5. How big is the problem? • $US1.5 Trillion paid in bribes each year • $US3 Trillion laundered each year • (GDP Romania: $US205 Billion) • Estimated: 1-3% identified and possibly stopped
- 6. 6FEBRUARY, 2018 DATA AND FINANCE IS GROWING DRAMATICALLY
- 7. 7 WHAT DOES THIS LOOK LIKE IN PRACTICE? “Former Tourism minister Elena Udrea, currently prosecuted in several corruption cases, has missed the hearing on Thursday in the case where she is charged with illegally financing the 2009 electoral campaign.” Romania Journal, 2018 “The most important roads, Calea Grivitei, Lascar Catargiu Boulevards, Nicolae Balcescu, Bratianu and University Square, will be maintained by the company of Dan Besciu and Sorin Vulpescu, former business partners of Dorin Cocos, husband of the presidential adviser Elena Udrea.” HotNews.ro, 2005
- 8. 8 HOW MANYARTICLES CAN YOUR SCREENING PROVIDER CHECK PER DAY? 1analyst 200analysts (traditional solution provider) 120articles 24thousand articles
- 9. 9 … Webpages Unstructured freetext Structured financial crime data Internet ComplyDetectPolitician detection Relation detection Crimeimplication detection Named Entity Recognition Collecting and Organising Publicly Accessible Data
- 10. 10 ComplyDetect & Active Learning
- 11. 11 HOW MANYARTICLES CAN YOUR SCREENING PROVIDER CHECK PER DAY? 1analyst 200analysts (traditional solution provider) 120articles 24thousand articles ComplyDetect 20million articles
- 12. FIGHTING CORRUPTION WITH TECHNOLOGY Corruption is a cancer, a cancer that eats away at a citizen’s faith in democracy, diminishes the instinct for innovation and creativity. – Joe Bidden, Former Vice President of the United States, Bucharest, 2014 “ ”