Tech-Based Enterprise Control and Audit for Financial Crimes: The Case of State-Owned Global Financial Predators (SOGFP)

Background

This chapter¹ primarily focuses on:

• 1.

  The Financial Crime Analysis Concept (FCAC’s) Vision (FCAV) that can be used to support Enterprise Control and Audit for Financial Crimes (ECAFC) in its essence;

• 2.

  Use of ECAFC with existing standards;

• 3.

  The support of various types of financial strategies

• 4.

  The selection of a ECAFC expert’s profile.

• 5.

  The use of the Applied Holistic Mathematical Model for FCA (AHMM4FCA) as a stub for the ECAFC;

• 6.

  the concept of Neural Networks.

• 7.

  Holisms, generics and global ECAFC;

• 8.

  The application of risk management to support complex financial systems;

• 9.

  the ECAFC as the kernel of the financial system.

• 10.

  Artificial Intelligence (AI) as a generic interface for all possible problems;

• 11.

  The use of the intelligent Knowledge Management System for FCA (KMS4FCA) as a holistic strategic knowledge environment to support he ECAFC; and

• 12.

  Continuous design, development, deployment, transformation and innovation, using an agile iterative development and operations approaches.

Searching with the scholar engine, within Google’s online search portal, in which the author combined the previously mentioned keywords and key topics; the results show very clearly the uniqueness and the absolute lead of the author’s works/framework, methodology, research and recommendations in the mentioned scientific fields and that can be considered as an important jumpstart for the future industrial use (Trad, 2019c). The AHMM4FCA based ECAFC for Projects, can be used for scripting and prototyping Finance for Technologies (FinTech) environments using a set of atomic Building Blocks (aBB) in the form of microartefacts. The use of the ECAFC is achieved by the instantiation (in n instances) using the author’s proposed framework that uses an integrated Financial Control and Technology Concept (FCTC), to create a reusable blueprint, that is composed of the main four building levels, in which the ECAFC is on the highest (the business level), as shown in Figure 1. Where in this chapter the level interfaces the others: 1) Technology; 2) Applications; and 3) Data; using the FCTC. The fourth level, the business one that includes finance’s strategy is presented in this chapter which relates to other chapters like FCTC (Trad, 2020). These various levels are glued using a Natural Programming Language for FCA (NLP4FCA).