My Final Project: Report CCC
My project is a software called Cryptocurrency Compliance Checker (CCC). This software could be used by digital currency users in order to quickly identify accounts connected to potential criminal activity. The software will use artificial intelligence to recognize patterns of criminal transactions and then notify the user whether or not they should do business with the user in question.
When I planned out the software development, I believed the first step of the process would be researching: collecting a variety of known criminal transactions. This research would be important so that patterns in criminal transactions could be established and used to identify future cases. However, I encountered a roadblock because much of this data is held confidential by financial institutions. Therefore, I had to change tactics and now I am in the process of finding a financial institution who would work in cooperation with me. I have sent emails to the compliance departments of four financial institutions and received responses from two of them. One turned down my request and the other asked for a meeting to talk about the project, which we have yet to schedule. However, I have created proposal slides of the software for the meeting, which you can find along with project updates following this link.
Once (and if) this institution green lights my project, I will start collecting the transaction history of both suspicious and non-suspicious cases in an Excel spreadsheet. I hope to collect the data from at least one hundred cases in both categories in order to have enough evidence to establish reliable red flag indicators.
After collecting this information, it will be sent to an IT team, which will feed the information to an AI. So far I have been in contact with two programmers I know and asked if they were interested in helping me with the project but unfortunately, they said no because they don’t have experience with cryptocurrencies nor the time to learn about it. My plan now is, assuming the financial institution approves the project, to ask if I could work in tandem with their IT department to feed the AI and develop a user interface for the software.
In conclusion, there were more obstacles than anticipated in the project but I am working through them step by step. I hope my meeting with the financial institution is a success and can lead to a cooperation so that I can get the data I need for the project. Once the data is collected, I believe that this software will make the world a better place by making it easier to identify criminals before they can commit another crime.
