OSINT: A Powerful Tool for AML Information Gathering

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CA Mayur Joshi
CA Mayur Joshi
CA Mayur Joshi is a Forensic Accounting evangelist in India. He is the co-founder of Indiaforensic and is author of 7 books on forensic accounting, fraud investigations and money laundering.

What is OSINT?

Open Source Intelligence (OSINT), means gathering and studying information from sources that are available to everyone. These sources can be newspapers, websites, social media, government reports, academic papers, and more. This process involves collecting information from the parts of the internet and public sources that anyone can access.

The goal of OSINT is to learn important things about various topics like people, organizations, events, and more. Many groups like businesses, government offices, and OSINT Research experts use this information to make smart choices, understand risks, spot possible dangers, or just to learn.

Remember, OSINT is always done the right way and following the law. It’s about studying info that’s willingly shared or can be accessed publicly. It’s not about hacking, breaking into secure systems, or reaching private or secret data.

Important OSINT Concepts

Data Sources – These are like different places where detectives search for clues. OSINT uses various sources, like google search (think of them as super-powered magnifying glasses), social media platforms (like places detectives visit to gather information), and even public records.

Data Collected – OSINT collects valuable open source information from these sources. It could be anything – from posts on social media accounts to news articles or public records. Imagine it like collecting puzzle pieces to solve a bigger picture.

Framework – Within the OSINT Framework, users can find categorized links to diverse OSINT tools and sources, making it easier to navigate and access the appropriate resources for their specific information-gathering needs.

Google Dork – Smart professionals use Google Dork. It is a specialized search technique used to find precise information using search operators in the Google search engine. It involves using advanced search operators to narrow down and refine search queries, allowing users to find specific types of information quickly and efficiently

Applications in Real Life

  • For Law Enforcement: It helps police and detectives solve crimes by gathering information from online sources. It’s like leaving no stone unturned while solving a case.
  • In Penetration Testing: Experts use OSINT data to test the strength of a company’s security system. It’s like checking if the locks on your house are strong enough to keep intruders out.

Market Intelligence on Bank Borrowers

OSINT tools help banks figure out if someone wanting a loan is financially healthy by studying financial news, reports, and the financial details that are out there. It gives a view of how well they can pay back loans. Banks also check online reviews, social media posts, and news articles to see how the borrower is seen by the public.

By looking at trends, news, and special publications about a certain industry, OSINT gives a full picture of the market. This helps banks know how a borrower’s business could be affected.

OSINT helps banks check if a borrower is following the laws and rules. They look at any legal issues or disputes that are publicly available.

OSINT helps banks look at a borrower’s competition, their place in the market, strategies, and how they’re doing financially. This way, banks can decide if giving a loan is a good idea.

OSINT for Stopping Money Laundering in India

Information gathered through open source helps keep an eye on transactions and spots any strange financial activities. This is crucial to report any doubtful transactions, meeting FIU guidelines.

It also helps in checking the background of customers and their businesses. This is very important in following FIU rules to stop money laundering. OSINT tools can follow and study transactions, especially for high-risk transactions. This follows FIU rules about watching transactions closely and reporting them.

OSINT also helps banks see if a person is on important lists worldwide and if they know powerful people. This helps banks do thorough checks and prevent illegal money from entering the financial system.

This info helps banks know how risky different customers and transactions are. It’s important because there are rules (FIU rules) that say preventing money laundering should be based on how much risk there is.

These tools can keep banks updated on the newest FIU rules and guidelines. This helps in always doing the right thing and adjusting how they stop money laundering.

Intelligence Gathering Training

Riskpro’s OSINT certification is like having a strong weapon in this battle. It helps you learn how to look at the collected data in a smart way. Spotting patterns and strange things is key to finding possible money laundering activities. The knowledge you gain through Riskpro’s certification helps you follow FIU rules by using public information fully to find and report any odd money activities.

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