Browsing by Author "Chukwunonso, Hampo Johnpaul Anenechukwu"

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    Development of a web-based machine learning money laundering detection and prevention model
    (Federal University of Technology, Owerri, 2024-07) Chukwunonso, Hampo Johnpaul Anenechukwu
    Explicitly programmed systems, rule-based systems and machine learning systems exist as antmoney laundering systems, however, these systems are for the detection and not prevention of money laundering. This thesis is concerned with the detection and prevention of money laundering by developing a web-based model that uses machine learning (ML) to detect and prevent money laundering transactions. Money laundering which is synonymous with clothes laundering is the process of transforming the real nature of the source of income or money which is usually an illegitimate source to a legitimate source. The model was developed using open datasets on financial transactions from Kaggle.com, which is an open-source website that holds a lot of data. Questionnaires were administered for data acquisition and requirement collection. The questionnaire was given out to people in the banking sector, and the data were analysed to reveal that most respondents see a need for this system and believe it will lead to better financial monitoring and decision-making. The RAD software methodology was applied and Python programming language and Python frameworks were used for this model. recall of 100%, an f1 score (f-measure) of 99.2% and a precision of 98.3% were achieved by this research against the existing system’s metrics of 97%, 97% and 98% for f1-score, precision and recall respectively.Also, an accuracy of 98.4% and 81.9% was achieved for the detection model and the prevention model respectively.