About the challenge

Applications are now open for the Financial Crime Data Challenge organized by the United Nations. In brief, the challenge aims to develop a model for financial crime data correlation. For this purpose, the UN Office of Information and Communication Technology has launched this challenge to devise a model for combatting money laundering and financing of terrorism.

Background

in this respect, the OICT, with the use of goFintel (“government office Financial Intelligence”)_ the next generation software platform being developed within the framework of the UN Office of Counter-Terrorism “UNOCT-UNCCT Global coordinated program on detecting, preventing, and battling the financing of terrorism” wants to run this challenge to address UN Security Council Resolution 2462 and 2482 mandates for Member States to enhance their capacity to combat money laundering and the financing of terrorism.

Details

Deadline to submit a proposal: 30 May 2021

Organizer: United Nations Office of Information and Communication Technology (OICT)

Scope: Global

Objectives of the challenge

It seeks to:

• Engineer a model(s) to correlate data from financial, criminal, and other open data records to detect, thwart and counter the financing of terrorism.
• The challenge is expected to lead to a comprehensive package detailing the mechanisms, technologies, algorithms that can be applied to correlate apparently disparate open data sets to identify connections and patterns of financial crime activities.

Who can participate?

• The challenge is open to participants from a wide variety of backgrounds worldwide.
• Regardless of being an academic faculty student, an entrepreneur or a long-serving company, or simply a creative person, you can help the UN build goFintel by your participation in the challenge.
• UN particularly encourages teams or individuals (self-organized online and offline), Data Scientists, Data Engineers, AI Experts, Machine learning Engineers, and Researchers to take part in the Challenge.
• If a team applies, a Project leader should be designated to coordinate the activities and to report to the goFintel Team.

Principles of the challenge

• Explain the model to correlate open data from different sectors using supervised and unsupervised learning systems (Machine/Deep Learning, Artificial Intelligence).
• Find options to display data in several formats.
• Create a model to visualize data on demand and/or in real-time.

Evaluation criteria

The team will review proposals or models in light of the following criteria:

Relevance and applicability to the task objectives of the challenge.
• Maturity and completeness.
• Comfort for use and user-friendliness.
• Modularity, which allows integration with other products.
• Maintainability and quality of the algorithms.
• Documentation.

How to participate?

Applicants can join the challenge by submitting a design/model proposal for an implementable solution that relies on an identified subset of open data sources, along with related comprehensive approach references. In addition, they can support the result with visual mock-ups and/or preliminary Proof of Concept and/or presentation of suggested solution design specifics.

Click HERE to submit your proposal.

Notice: throughout all the phases of the challenge, OICT recommends contestants to maintain continuous interaction with the goFintel Team to discuss the requirements for this assignment. Questions concerning this challenge can be posted in the comment section of Questions & Answers.

For more information about the challenge, the important requirements/qualifications, and complementary components to help participants prepare for the change, you may visit the Source Link.