WireVis: Visualization of Categorical, Time-Varying Data From Financial Transactions

Large financial institutions such as Bank of America handle hundreds of thousands of wire transactions per day. Although most transactions are legitimate, these institutions have legal and financial obligations in discovering those that are suspicious. With the methods of fraudulent activities ever...

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Bibliographic Details
Main Authors: Chang, R., Ghoniem, M., Kosara, R., Ribarsky, W., Jing Yang, Suma, E., Ziemkiewicz, C., Kern, D., Sudjianto, A.
Format: Conference Proceeding
Language:English
Subjects:
categorial time-varying data
Collaborative tools
Computer graphics
Data mining
Data visualization
financial data visualization
Financial management
Fraud detection
Law
Legal factors
Risk analysis
Risk management
Wire
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Summary:Large financial institutions such as Bank of America handle hundreds of thousands of wire transactions per day. Although most transactions are legitimate, these institutions have legal and financial obligations in discovering those that are suspicious. With the methods of fraudulent activities ever changing, searching on predefined patterns is often insufficient in detecting previously undiscovered methods. In this paper, we present a set of coordinated visualizations based on identifying specific keywords within the wire transactions. The different views used in our system depict relationships among keywords and accounts over time. Furthermore, we introduce a search-by-example technique which extracts accounts that show similar transaction patterns. In collaboration with the Anti-Money Laundering division at Bank of America, we demonstrate that using our tool, investigators are able to detect accounts and transactions that exhibit suspicious behaviors.
DOI:10.1109/VAST.2007.4389009