Decision intelligence platforms, such as Cognyte’s NEXYTE platform,
integrate data fusion and advanced analytics to uncover illicit Hawala
activities, assess risks, expedite decision-making, and streamline
investigations currently conducted in a siloed manner. Leveraging machine
learning insights, investigators can determine which funds and account
holders are more likely to be involved in illicit activities, and can map out
Hawala networks and identify key hubs over time. Fusing and analyzing
all data in one platform is crucial, enabling analysis of both structured
(databases) and unstructured data (such as images, audio, video and
handwritten text) to enrich profiles and correlate them with various records
like police reports and financial data, aiding in the de-anonymization of
suspects.
Even with regulations in place, investigators will still need to contend with
vast data sets such as bank accounts, police records, and money exchange
registrations, often fragmented across disparate databases, a challenge
exacerbated by limited time and an abundance of false positives. They will
also need to prioritize which transactions and Hawaladars to investigate,
identify Hawalas that are at high-risk of being used for money laundering,
and optimize resource allocation amidst competing investigative priorities.
Record from a Dutch collector
showing a token number being used
for each "withdrawal" or handover
Source: FATF Report, October 2013
Using a decision intelligence platform allows investigators to visualize
Hawala networks, establish relationships and hidden links automatically,
and receive a comprehensive investigative picture that traditional
methods may take years to reveal, if ever. By uncovering hidden
connections, decision intelligence can help to decode encrypted data
from Hawaladars' notebooks, exposing illicit activities, and paving the
way for authorities to disrupt the network. In addition, if authorities
enforce digitization of Hawala networks, it becomes easier to cross-
reference data sources and validate transactions via the banking system,
enable regulatory compliance, and flag suspicious activities.
7
1
Executive
Summary
6
About
NEXYTE
2
The Hawala
Problem
4
How Decision
Intelligence
Can Help
5
Key Decision
Intelligence
Capabilities
3
What is
Hawala?