Recent advancements in money laundering detection have demonstrated the potential of using graph neural networks to capture laundering patterns accurately. However, existing models are not explicitly designed to detect the diverse patterns of off-chain cryptocurrency money laundering. Neglecting any laundering pattern introduces critical detection gaps, as each pattern reflects unique transactional structures that facilitate the obfuscation of illicit fund origins and movements. Failure to account for these patterns may result in under-detection or omission of specific laundering activities, diminishing model accuracy and allowing schemes to bypass detection. To address this gap, we propose the MPOCryptoML model to effectively detect multiple laundering patterns in cryptocurrency transactions. MPOCryptoML includes the development of a multi-source Personalized PageRank algorithm to identify random laundering patterns. Additionally, we introduce two novel algorithms by analyzing the timestamp and weight of transactions in high-volume financial networks to detect various money laundering structures, including fan-in, fan-out, bipartite, gather-scatter, and stack patterns. We further examine correlations between these patterns using a logistic regression model. An anomaly score function integrates results from each module to rank accounts by anomaly score, systematically identifying high-risk accounts. Extensive experiments on public datasets including Elliptic++, Ethereum fraud detection, and Wormhole transaction datasets validate the efficacy and efficiency of MPOCryptoML. Results show consistent performance gains, with improvements up to 9.13% in precision, up to 10.16% in recall, up to 7.63% in F1-score, and up to 10.19% in accuracy.
Samadi et al. (Mon,) studied this question.
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