Our Luxembourgish branch, Mopso Sàrl, in collaboration with the Luxembourg Institute of Science and Technology (LIST), has been awarded a significant grant by the Ministry of the Economy and Luxembourg National Research Fund (FNR) under the Joint Call HPC (High Performance Computing) program. This grant will fund our innovative project, called PAMLA, aimed at revolutionizing anti-money laundering (AML) efforts in the financial sector.
What is PAMLA?
PAMLA will develop novel and improved Anti-Money Laundering (AML) controls, increasing the effectiveness of AML enforcement and reducing the astounding percentage of false positives, while also being able to identify more correctly what previously has been a false negative.
To achieve this goal, PAMLA is leveraging Mopso’s experience in the domain of money laundering, knowledge graphs, and processing of real networks of financial data, along with LIST’s experience in HPC Computing, visual analytics of multilayer networks, and Machine Learning.
Technically, we will leverage network analysis tools, not only by recreating the network of relationships: we are developing techniques for identifying specific crime-related traits in the topology of the network and associated attributes. To reach this goal, we will identify and characterize clusters identifying network motifs and other characteristics that map to established crime patterns, as defined by AML literature.
We will leverage the power of HPC processing to deal not only with the scale of the data, but more importantly, with its complexity, and the intensive processing required for graph matching and other network focused algorithms. Finally, we will develop Machine Learning based approaches to network processing on HPC infrastructure that will not only support the identification of entities or structures of interest, but also predict where patterns of interest will emerge, and to support identifying new, previously unknown, patterns.
What to expect next?
Mopso wants to position itself among the most innovative regtech companies, given that in a competitive market like compliance it is not enough to be good. You have to be the best, thanks to the search for alternative ways and the experimentation of algorithms more sophisticated than those in use. We are looking for banks interested in joining us in this adventure, convinced that only a shared effort can allow us to defeat money laundering.