Ant Colony Optimization Algorithm for Feature Selection in Suspicious Transaction Detection System

Abstract

The fight against financial crimes has become increasingly challenging, and the need for sophisticated systems that can accurately identify suspicious transactions has become more pressing. The goal of the study is to develop a new feature selection method based on swarm intelligence algorithms to improve the quality of data classification. This article is about the development of an information system for the classification of transactions into legal and suspicious in an anti-money laundering sphere. The system utilizes a swarm-algorithm-based feature selection approach, specifically the ant colony optimization algorithm, which was both used and adapted for this purpose The article also presents the system’s functional–structural diagram and feature selection algorithm flowchart. The proposed feature selection method can be used to classify data from various subject areas.

Keywords

• AML
• swarm intelligence
• ant colony optimization