Many articles and blogs, including our own, have shown how graph databases can be used to look at financial transaction data to see if particular individuals or organizations are involved in money laundering or other kinds of fraud. In this blog I will expand on this issue and explain how institutions can use Objectivity’s ThingSpan and GraphX, running on Apache Spark, to tackle detect financial fraud more quickly and efficiently.
In a typical scenario, investigators are trying to determine the money trail initiated by the perpetrator(s). This is a very simple navigational query using a graph database, along the lines of “Starting at the Person_X vertex, perform a transitive closure using Financial_Transaction edges and any kind of vertex.”
That is great if we already know that Person_X is of interest, but what if all we have is a huge graph of recent and historic financial transactions garnered from multiple sources, such as banks, exchanges, real estate transfers, etc.? The problem evolves from being a simple query to being a Big Data analytics one. We are now interested in pattern-finding, not path-following.