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Hybrid Enhanced Money Laundering Intelligence, Investigation, Incrimination and Alerts

Hybrid Enhanced Money Laundering Intelligence, Investigation, Incrimination and Alerts

Objective

HEMOLIA is a new generation Anti-Money Laundering (AML) intelligent multi-agent alert and investigation system which in addition to the traditional financial data makes extensive use of modern society’s huge telecom data source, thereby opening up a new dimension of capabilities to all Money Laundering fighters (FIUs, LEAs) and Financial Institutes (Banks, Insurance Companies, etc.). Adding the Telecom Plane to the existing Financial Plane may improve and dramatically change AML doctrines, since another dimension is added to the analysis and investigation processes.
HEMOLIA, taking into account existing legal frameworks, will hybridize and correlate the Financial and Telecom Planes in order to create richer and more accurate alerts, intelligence and investigation tools, as well as information sharing, both nationally and internationally. A major part of HEMOLIA will be the legal research and provision of legal guidelines to all ML fighters. To respect privacy rights HEMOLIA will bring a new model of Push Privacy Preserving Alerts where all FIUs and FIs are pushed with alerts that mark a transaction or customer with a money laundering / fraud risk level or risk probability, yet without disclosing any private data. This model may have outstanding impact on AML because it means that FIs will be alerted based on data of all other FIs and based on Telecom service providers at the national and international level, opening up a new era of Money Laundering and financial crime reporting by FIs to FIUs.
The HEMOLIA consortium includes 2 end users (Belgium FIU, Ministry of Justice of Poland) and 7 technological partners which bring together European SME’s, industries and academies, ranging from system and database design through to money laundering detection. HEMOLIA will be tested in an environment which simulates live network and systems of 3 different countries which have implemented the HEMOLIA concept and which will cooperate together to share AML information.
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Coordinator

VERINT SYSTEMS Ltd

Address

Maskit Street 33
46733 Herzelia

Israel

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU Contribution

€ 664 250

Administrative Contact

Gideon Hazzani (Mr.)

Participants (12)

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OFICIUL NATIONAL DE PREVENIRE SI COMBATERE A SPALARII BANILOR

Romania

EU Contribution

€ 210 400

APLICACIONES EN INFORMATICA AVANZADA SL

Spain

EU Contribution

€ 472 680

CAPGEMINI NEDERLAND BV

Netherlands

EU Contribution

€ 310 250

VERENIGING VOOR CHRISTELIJK HOGER ONDERWIJS WETENSCHAPPELIJK ONDERZOEK EN PATIENTENZORG

Netherlands

EU Contribution

€ 43 353,60

SWITCHLEGAL ADVOCATEN - DORGELO MEREL - SWITCH 2 FUTURE

Netherlands

EU Contribution

€ 209 720

ZWIAZEK BANKOW POLSKICH IZBA GOSPODARCZA

Poland

EU Contribution

€ 50 439,60

UNIWERSYTET WROCLAWSKI

Poland

EU Contribution

€ 239 000

ORANGE POLSKA SPOLKA AKCYJNA

Poland

EU Contribution

€ 103 800

SIEC BADAWCZA LUKASIEWICZ - PRZEMYSLOWY INSTYTUT AUTOMATYKI I POMIAROW PIAP

Poland

EU Contribution

€ 366 850

ERNST & YOUNG (ISRAEL) LTD

Israel

EU Contribution

€ 142 000

MINISTERIE VAN JUSTITIE EN VEILIGHEID

Netherlands

EU Contribution

€ 46 800,40

STICHTING VU

Netherlands

EU Contribution

€ 119 846,40

Project information

Grant agreement ID: 261710

Status

Closed project

  • Start date

    1 May 2011

  • End date

    30 April 2014

Funded under:

FP7-SECURITY

  • Overall budget:

    € 4 388 307,20

  • EU contribution

    € 2 979 390

Coordinated by:

VERINT SYSTEMS Ltd

Israel

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