AML Analytics: Control Chart

In AML analytics, it can be useful to analyze whether a customer stays within a given profile. Outliers can be highlighted for further investigation. In Tableau, this can be achieved with a control chart like in the following example:

The range can be hardcoded (e.g., lower and upper levels) or dynamic such as in this example using +/- two standard deviations.

My expertise lies in data analytics, so I'm not pretending to be an expert in AML. However, KYC allows financial firms to take a risk-based approach to AML so that they can both identify their customer, and understand what level of money laundering risk they present. A recommendation of the Financial Action Task Force (FATF), risk-based AML requires firms to assess their customers individually in order to determine their risk levels; customers that are deemed to present a high AML risk should be subject to more intensive AML scrutiny. In such a case, a control chart in Tableau might be extremely useful.

Not only does Tableau empower AML analysts to visualize certain profiles, but they can also create subscriptions and alerts (email alerts if a certain threshold is breached).

If you want to see the Tableau dashboard, please check out the following link:

In the public Tableau dashboard, you can download the complete Tableau workbook, dataset, and the corresponding code.

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