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What is Suspicious Transactions

Chapter 12
Organizational Auditing and Assurance in the Digital Age
A suspicious transaction is one which on the grounds of digital evidences is suspected to involve activities like money laundering offences or a terrorist activity financing offence. The digital evidences are used to trace and proof unusual activity occurrence in accounts with respect to nature and value of transactions.
Published in Chapter:
To Monitor and Detect Suspicious Transactions in a Financial Transaction System Through Database Forensic Audit and Rule-Based Outlier Detection Model
Harmeet Kaur Khanuja (Marathwada Mitra Mandal's College of Engineering, India) and Dattatraya Adane (Shri Ramdeobaba College of Engineering and Management, India)
Copyright: © 2019 |Pages: 32
DOI: 10.4018/978-1-5225-7356-2.ch012
Abstract
The objective of this chapter is to monitor database transactions and provide information accountability to databases. It provides a methodology to retrieve and standardize different audit logs in a uniform XML format which are extracted from different databases. The financial transactions obtained through audit logs are then analyzed with database forensic audit. The transactions are examined, detected, and classified as per regulations and well-defined RBI antimony laundering rules to obtain outliers and suspicious transactions within audit logs. Bayesian network is used in this research to represent rule-based outlier detection model which identifies the risk level of the suspicious transactions.
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