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How Data Analytics Can Help Root Out Food Stamp Fraud

August 22, 2014 John Cassara is an industry adviser for analytics firm SAS and a former special agent for the Treasury Department’s Financial Crimes Enforcement Network. In late July, two men in North Texas were convicted for their participation in a fraud-based conspiracy that resulted in nearly $2 million in losses to the...

How Big Data Could Help Law Enforcement Catch Bulk Cash Smugglers

April 7, 2014 Gold-plated handguns. Million dollar pieces of art. Exotic wildlife. These and other ostentatious symbols of wealth were reportedly found at some of the properties formerly owned by Joaquin "El Chapo" Guzman – Mexico’s top drug kingpin. But it was the bulk cash, mostly in carefully stacked $100 notes, that caught...

Social Media Provides a Wealth of Data for Unraveling Illicit Financing Schemes

August 30, 2013 As individuals and groups become more dependent on social media for communication, it’s not surprising that law enforcement agencies are finding the information obtained from social networking sites increasingly valuable. To some, the stream of data gleaned through social media analytics is on par with human intelligence or signals intelligence....

Commentary: Leave Financial Crime Fighting to the Experts

July 19, 2013 In an unprecedented global financial probe, federal officials announced in May they had shut down a digital currency website operating a $6 billion money-laundering network. The scheme was neatly summarized by one investigator as “a PayPal for criminals,” a shadow online banking system used to conduct illegal transactions and launder...

Op-ed: Combating Blood Money With Big Data

May 22, 2013 “Illicit proceeds from crime are blood money, and blood money should have no place in the U.S. financial system.” That was the conclusion of a report released in April by the Senate Caucus on International Narcotics Control. The best defense against those illicit financial networks? Big data. In 2009, an...

from govexec

Analysis: Losing the War on Drugs

February 20, 2013 It has been four decades since President Nixon declared a war on drugs. But by conventional standards, the effort has failed. In fact, the Justice Department’s 2011 National Drug Threat Assessment noted “the overall availability of illicit drugs in the United States is increasing.” During the Nixon era, the importance...

Analysis: Financial intelligence is a critical weapon against terrorist networks

November 17, 2011 This year is noteworthy for more than the 10th anniversary of the Sept. 11, 2001, terrorist attacks. Forty years ago, President Nixon declared a war on drugs. What do the two dates have in common? Arguably the most important countermeasure against both terrorism and narcotics trafficking--financial intelligence. Most criminal activity...

from govexec

Follow The Money

November 1, 2011 Financial intelligence is one of the strongest weapons against terrorist and drug networks, but agencies must keep up with the changing threat. This year is noteworthy for more than the 10th anniversary of the Sept. 11, 2001, terrorist attacks. Forty years ago, President Nixon declared a war on drugs. What...